Biogas Market Surge: China's Investment in Household and Industrial Projects Paves Way for Future Growth, Finds Maximize Market Research

PUNE, India, July 17, 2024 /PRNewswire/ -- The Biogas Market size was valued at USD 65.4 Billion in 2023 and the total Biogas Market revenue is expected to grow at a CAGR of 4.52% % from 2024 to 2030, reaching nearly USD 89.12 Billion.

Reports on competitive analyses encompass company overviews, financial performances, product portfolios, and strategies of key players in the Biogas market. To assess strengths and weaknesses, a comprehensive SWOT analysis was conducted, while a PESTLE analysis was carried out to understand the impact of macroeconomic factors on the market. Also, the report includes detailed analyses of investments made by market players to enhance their global presence.

The research methodology utilized in analysing the Biogas market encompasses a thorough approach that combines primary data which is often collected through surveys, interviews, and focus groups with industry experts and stakeholders such as government and regulatory bodies, biogas plant developers and operators, feedstock suppliers, technology providers, investors and financial institutions, energy companies and utilities and environmental and community organizations. This allows for firsthand insights into market trends, consumer behaviour, and regulatory challenges and secondary research utilizing reports from government sources, industry publications, and financial statements. Market sizing and forecasting techniques are employed alongside competitive analysis to provide valuable insights into the market landscape. It also includes trade balance, market entry strategies, costs in different region, technology adoption, regulatory framework, compliance requirements and customer demographics which makes it an investor's guide. The report encompasses Feedstock, End Use and Application segments and their analysis, which elucidates their influence on the market. The estimation methodology often adopts a bottom-up approach to accurately determine market sizes.

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Global Biogas Market 2023-2030: Key Highlights

• Historic Market Size 2017-2023
• CAGR of the market during 2024-2030.
• Detailed information on factors that will assist Biogas market growth during the next seven years.
• An estimation of the Biogas market size and the impact of country's GDP on Biogas market.
• Forecasts on upcoming trends and changes in consumer behaviour.
• The growth of the Biogas market
• Analysis of the competitive landscape and detailed information on companies.
• Comprehensive details of factors that will impede the growth of Biogas companies.

Competitive Landscape

The Biogas Market includes the presence of several global as well as regional key players. A few prominent players that offer Biogas in the market are Babcock & Wilcox (USA), Biokraft (Norway) Carbotech Gas Systems (Germany), DMT Environmental Technology (Netherlands), DVO, Inc (USA) EnviTec Biogas (Germany), Greenlane Renewables (Canada), MT-Energie GmbH (Germany) and others.

What's New: Recent Additions and Updates?

• Expansion into Southeast Asia, South America, and Africa.
• Localization efforts for new markets.
• Technological Advancements
• New Streaming Partnerships and Platforms
• Innovative Marketing Strategies
• Financial Performance and Investment
• Consumer Behavior and Trends
• Regulatory Changes and Challenges
• Consumer Technology Integration.

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Market Overview

Biogas is a renewable and environmentally friendly gas produced during the anaerobic digestion of organic matter, like agricultural residues, sewage, animal manure, and food waste. The advancement of biogas varies globally, influenced not only by the availability of feedstocks but also by supportive policies. China, Europe, and the United States account for 90% of worldwide production. According to the American Biogas Council, the growing of the U.S. biogas market is driven by increased domestic investments and renewable energy production. In 2023, 96 new biogas projects developed operational in the U.S., bringing the total number of active projects to 2,251 and indicating $39 billion in capital investment.

The development of the biogas sector has been heavily influenced by policy frameworks in various countries and regions, which, through broad renewable energy targets, have positioned most biogas plants in Europe to take advantage of tax credits on in the food supply chain and support renewable electricity generation. In contrast, development finance in developing countries facilitated the use of biodigesters in households and communities to ensure energy access in the realization of rural Sustainable Development (SDS). To rapidly produce biogas, with special focus on installing domestic biogas digesters to provide cleaner solutions in rural developing country areas Up to 5 million biodigesters need to be replaced annually Furthermore, medium-sized and medium-sized biodigesters are used to capture agricultural wastes, benefiting from increased economies of scale and lower costs.

Agriculture employs half of the labour force in Africa, meaning biogas is a strong contender for greater spread in society. Current biogas consumption is about 5 000 inches (6 million m3 of natural gas equivalent), and consumption is highest in countries with specific subsidy policies for this fuel. MMR report estimates that Africa has the potential to supply about 50 Mtoe of carbon-free biogas produced locally, primarily through domestic biodigesters. This capacity doubles to about 100 Mtoe by 2040, at an average cost of USD 15/MBtu. The case for biogas development in Africa is strongest in rural areas with large farms. Crop residues, mainly grains, account for about 60% of the total capacity, animal waste about 25%, and most of the MSW residues. The picture changes slightly at the end of the forecast period as further urbanization increases MSW availability and the expected change in diet depends on animal and therefore animal waste movements behind the surface.

Biogas has a long history in China, and received continuous support of state after 2000, from one billion yuan a year, to 4 billion, up to 6 billion, focused on small digester for farmers' household use. Since 2014, it has been progressively modified to support large industrial biogas projects for conversion and development Industry. The biomethane potential in China is between 150 billion and 200 billion Nm3 per year. The biomethane industry is still in its infancy with an annual capacity of only 300 million Nm3. The policy and standard system need to be formed and improved.

In conclusion, the demand for Biogas is constantly increasing worldwide, driven by factors such as increase in agricultural operations results in a corresponding rise in organic waste from animal manure, crop residues, and other byproducts. The Maximize Market Research report captures these trends in detail across various regions. It provides a comprehensive analysis of market trends, consumer preferences and competitive landscape in each category. This comprehensive perspective provides stakeholders with valuable information to navigate opportunities and challenges, and ensures strategic decisions for sustainable growth in the global Biogas market.

Segment Overview

MMR has segmented the market based on

By Feedstock

• Agricultural Waste
• Municipal Waste
• Industrial Waste

By End Use

• Residential
• Commercial
• Industrial

By Application

• Electricity Generation
• Biofuel Production
• Heat Generation.

Based on Feedstock segment biogas market is segmented by Agricultural waste, Municipal waste, and Industrial. Agricultural waste has emerged as a dominant feedstock in the global biogas market, holding approximately 76.23% of the market share in 2023. The agricultural sector generates a substantial amount of organic waste, involving crop residues, animal manure, and agricultural byproducts. This abundance of agricultural waste ensures a consistent and reliable source of feedstock for biogas production, meeting the industry's raw material requirements effectively. Also, agricultural waste possesses remarkable energy potential owing to its high organic content. This organic matter, consisting of lignocellulosic materials and livestock manure, can be efficiently converted into biogas through anaerobic digestion. The energy content of agricultural waste makes it a valuable resource for biogas production, enabling the generation of renewable energy while simultaneously reducing reliance on fossil fuels.

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Detailed segmentation values for each segment and explanations for growth are provided in the final report.

Geography Overview

In 2023, Europe was the dominant regional segment, accounting for about 38.88% of the revenue share. The European biogas market is growing due to technological advances and increasing investments in refinery infrastructure. Companies across Europe are investing heavily in research and development of biogas produced from existing sources and are planning to increase their share of the food supply over the next few years. This will boost the regional biogas market.

The biogas market in the Asia-Pacific (APAC) region has been experiencing significant growth owing to increasing energy demand, rapid industrialization, rising agricultural activities, and a strong focus on environmental sustainability and renewable energy growth. Major countries such as China and India are leading the growth of biogas market in APAC due to supportive government policies, significant biogas capacity, renewable energy, waste management, environmental sustainability and rural development and with the increasing adoption of biogas technology.

Biogas, a renewable energy source derived from organic waste, has great potential to transform agriculture in India. As the country strives to promote sustainable development and reduce carbon emissions, the use of biogas technology can meet energy needs, encourage waste management and improve agricultural production to the sky. However, several challenges hinder its widespread implementation. Key challenges include lack of knowledge and information about biogas technology and its benefits among farmers and stakeholders, high initial investment costs, poor quality inputs materials, storage and distribution, lack of technical know-how and maintenance capacity. Furthermore, the inconsistency in the availability and quality of organic wastes poses significant constraints. Government support and incentives such as those provided by the National Biogas and Manure Management Program (NBMMP) are needed to address these challenges. Building awareness and capacity through seminars and training programs, investing in R&D to improve technology and food supply, and fostering public-private partnerships to utilize resources and expertise are done important strategies for promoting the adoption of biogas in Indian agriculture.

In the final report, past and future numbers and explanations are incorporated seamlessly to provide a comprehensive understanding of the Global Biogas market.

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.

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SOURCE Maximize Market Research Pvt. Ltd.

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