Market Size –
The biomethane market size has grown strongly in recent years. It will grow from $3.53 billion in 2023 to $3.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increased renewable energy targets, increased waste management policies, increased energy security, increased circular economy initiatives, increased decarbonization efforts, increased infrastructure development, increased market demand and acceptance.
The biomethane market size is expected to see strong growth in the next few years. It will grow to $4.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing climate policy ambitions, increasing green gas mandates, increasing circular bioeconomy strategies, increasing urban air quality improvement, increasing biofuel market expansion, increasing sustainability certification and traceability. Major trends in the forecast period include growing interest in renewable fuel alternatives, expansion of biogas upgrading facilities, adoption as a clean fuel for transportation, integration with organic waste management systems, development of sustainable supply chains, expansion of biomethane injection, collaboration between governments and industry stakeholders, innovation in production technologies, adoption of certification schemes.
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Scope Of Biomethane Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Biomethane Market Overview
Market Drivers –
The rising preference for clean and green fuels is expected to propel the growth of the biomethane market going forward. Clean and green fuel refers to energy sources that are environmentally friendly and sustainable, emitting minimal pollutants or greenhouse gases during their production and consumption. The demand for clean and green fuels is increasing as they serve as an environmentally friendly and sustainable alternative to conventional fossil fuels. Biomethane as a clean energy source offers a range of benefits that align with environmental sustainability, economic development, and social well-being. For instance, in June 2023, according to the Energy Information Administration (EIA), a US-based government agency, nonfossil fuel energy sources constituted 21% of U.S. energy consumption in 2022, reflecting a 3% rise compared to the previous year. This increase was driven by a significant contribution from nonfossil fuel sources, including renewables and nuclear, which collectively accounted for 21% of the nation’s energy consumption in 2022. Therefore, the rising preference for clean and green fuel is driving the growth of the biomethane market.
Market Trends –
Major companies operating in the biomethane market are increasing their focus on developing new biomethane production facilities to maximize their profitability in the market. Biomethane production facilities are installations designed for the generation of biomethane, a renewable natural gas derived from organic materials, through processes like anaerobic digestion or other biological means. For instance, in September 2023, CycleO Group Limited, a UK-based biomethane production company, launched the first biomethane plant with ammonia stripping in Spain. The plant will convert manure into sustainable ammonium nitrate and sulfate, which can be used as fertilizer. It has a maximum production capacity of 15,000 MWh per year and is CycleØ’â„¢s second operational installation in Spain and the company’â„¢s first fully developed, owned, built, and operated facility in the country. This plant will help reduce nitrate pollution and emissions on the local farm.
The biomethane market covered in this report is segmented –
1) By Feedstock : Organic household waste, Animal manure, Energy crops, Agricultural waste, Sewage sludge, Industrial food processing waste, Other Feedstocks
2) By Production Method: Anaerobic Digestion, Gasification, Fermentation, Other Production Methods
3) By End User: Automotive, Power Generation, Industrial, Other End Users
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Regional Insights –
Europe was the largest region in the biomethane market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the biomethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the biomethane market are E.ON SE, Air Liquide S.A, The Southern California Gas Company, VERBIO SE, Société Générale de Surveillance, Veolia Group, Envitec Biogas AG, Orbital Gas Systems, Future Biogas Ltd., Green Gas International, ETW Energietechnik GmbH, Biokraft International AB, Gasrec Ltd., PlanET Biogas Global GmbH, CNG Services Ltd., Biogas Products Ltd., Nature Energy, Landwärme GmbH, AB HOLDING SPA, ENVO Group, Cryon Purr, Schmack Carbotech GmbH
Table of Contents
1. Executive Summary
2. Biomethane Market Characteristics
3. Biomethane Market Trends And Strategies
4. Biomethane Market – Macro Economic Scenario
5. Global Biomethane Market Size and Growth
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31. Biomethane Market Other Major And Innovative Companies
32. Global Biomethane Market Competitive Benchmarking
33. Global Biomethane Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Biomethane Market
35. Biomethane Market Future Outlook and Potential Analysis
36.Appendix
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