The latest market report published by Credence Research, Inc. “Global Biomethane Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Biomethane Market generated revenue of around USD 2,071.04 million in 2021 and is anticipated to grow a CAGR of over 8.33% during the forecast period from 2021 to 2028 to reach around USD 3,849.98 million in 2028. While, cumulative growth opportunity presented by the global Biomethane is around USD 21.50 billion during 2022 to 2028.
Global Biomethane Market, 2021 – 2028 (USD Million)
Browse the full report at Biomethane (Biogas) Market (credenceresearch.com)
With the world’s fossil fuel supply rapidly depleting, energy engineers are finding alternative sources of energy. Scientists and energy engineers are also trying to maximise the present energy sources. Biomethane is a natural gas and is a green form of energy. This gas is renewable and has a wide variety of growth opportunities. The raw material used in methane is biogas, which is generally produced using materials like methane, vegetables, and livestock. It is an environmentally friendly alternative to the other sources of energy present in the market today. This fact is the reason it’s predicted to grow at a rapid rate in the years to come.
Anaerobic Digesters to Held the Largest Share
Gasification, Fermentation and Anaerobic Digestion are some of the important types of Biomethane production processes used across different region. However, anaerobic digestion is growing in demand owing to wide acceptance from end-users. While, gasification and fermentation processes are likely to grow at a sluggish growth rate over the forecast period as compare to anaerobic digestion.
Agriculture and Animal Waste to Grow at Rapid Pace
Agricultural Waste, Sewage Sludge, Organic Household Waste Derived, Animal Manure, Industrial Food Processing Waste, Energy Crops and Municipal Waste are major feedstocks of the global Biomethane industry. All feedstocks used in biomethane production are renewable and available in abundance. Agriculture, sewage, municipal waste and animal manure are most widely used feedstocks for biomethane production.
Power Generation to Hold Largest Share
Automotive, Power Generation, Heat generation, Alternative Fuel, Water Heating, Space Heating and Bio-fuel are some of the major applications of Biomethane. Power generation is most common application of biomethane. However, its also growing in its popularity to be used as a fuel for automobile industry.
U.S. is Leading Biomethane Demand
U.S. is leading the Biomethane industry with over 45% share in 2021. Presence of large number biomethane production facilities installed across 50 states and availability of feedstock is mainly driving the demand for biomethane. UK, Germany and France also expected to post attractive CAGR during the forecast period. While, China is likely to advance at a rapid pace over the forecast period.
Major players operating in the Biogas Products, CNG Services, EnviTec Biogas, ETW Energietechnik GmbH, Future Biogas Limited, Gasrec, Gazasia, GM-Green Methane, Green Elephant, JV Energen, Magne Gas, Mailhem Ikos Environment, ORBITAL, Planet Biogas Global, Schmack Carbotech, SGN, SoCalGas and VERBIO. Global Biomethane market is characterized by the presence of large number of manufacturers across the world.
Global Biomethane Market by Nature, 2016 – 2028
- Anaerobic Digestion
Global Biomethane Market by Feedstock, 2016 – 2028
- Agricultural Waste
- Sewage Sludge
- Organic Household Waste Derived
- Animal Manure
- Industrial Food Processing Waste
- Energy Crops
- Municipal Waste
Global Biomethane Market by Application, 2016 – 2028
- Power Generation
- Heat generation
- Alternative Fuel
- Water Heating
- Space Heating
Global Biomethane Market by Company, 2016 – 2028
- Biogas Products
- CNG Services
- EnviTec Biogas
- ETW Energietechnik GmbH
- Future Biogas Limited
- GM-Green Methane
- Green Elephant
- JV Energen
- Magne Gas
- Mailhem Ikos Environment
- Planet Biogas Global
- Schmack Carbotech