by Market Overview:
The biogas market involves production of biogas from organic waste through anaerobic digestion. Biogas is a renewable energy source produced from various organic materials such as agricultural waste, food waste, energy crops and industrial waste. It is an advantageous source of sustainable and renewable energy.
Market key trends:
One of the key trends in the biogas market is growing focus on organic waste management. Anaerobic digestion of organic waste helps in production of renewable energy in form of biogas along with management of waste. It also reduces greenhouse gas emissions from organic waste dumps. Adoption of anaerobic digestion for organic waste treatment is increasing globally due to its environmental benefits. Governments across countries are promoting installation of biogas plants for decentralized waste treatment through various initiatives and incentive schemes. This is expected to drive the growth of biogas market during the forecast period.
The global Biogas Market Trends is estimated to be valued at US$ 65.5 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Biogas offers a renewable source of energy. It is produced from organic waste materials such as agricultural residues and municipal solid waste, thereby providing an effective means of waste management.
Weakness: High initial setup and installation costs associated with biogas plants act as a barrier. Biogas also requires a continuous supply of organic waste to sustain production.
Opportunity: Increasing support through government subsidies and policies promoting the use of renewable sources of energy presents an opportunity. Growing global population and urbanization leading to more waste generation also provides scope for biogas production.
Threats: Availability of cheaper fossil fuel alternatives poses competition. Fluctuations in organic waste supply impacts biogas output and consistency.
Key Takeaways
The global biogas market is expected to witness high growth, exhibiting a CAGR of 4.2% over the forecast period, due to increasing support from government policies promoting the use of renewable energy sources.
Regional analysis: Europe currently dominates the global biogas market, accounting for over 35% share in 2023. Numerous biogas projects in countries like Germany, UK, Italy and France contribute to its leading position. Asia Pacific is expected to grow at the fastest pace during the forecast period, driven by growth in India and China.
Key players operating in the biogas market are Air Liquide, PlanET Biogas, Wartsila, EnviTech Biogas AG, Robert Bosch GmbH, Asia Biogas, and Schmack Biogas GmbH. Leading players are investing in research & development to launch advanced technologies for improved biogas generation and upgrading. They are also undertaking strategic partnerships and acquisitions to solidify their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
