USD 75.2 Billion Global Biogas Market Research Report by 2028, with CAGR 4.1% | Rising Energy Consumption is Major Factor Driving the Market | Industry Share, Size, Growth rate, Historic data by Vantage Market Research

WASHINGTON, June 07, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Biogas Market finds that increasing demand for renewable energy, and growing demand for upgraded biogas, are factors that influencing the growth of Biogas Market.

The Global Market revenue stood at a value USD 59.1 Billion in the year 2021. The Global Biogas Market size is forecasted to reach USD 75.2 Billion by the year 2028 and is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period; states Vantage Market Research, in a report, titled “Biogas Market Size, Share & Trends Analysis Report by Source (Municipal, Industrial, Agricultural), by Application (Vehicle Fuel, Electricity, Heat, Upgraded Biogas), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Market Dynamics:

Drivers:

Increasing Demand for Renewable Energy

In recent years, the global market has seen a dramatic increase in demand for biogas plants. This demand has been largely increased owing to an increased demand for renewable energy. Biogas is a green energy source of the local grid that generates energy and heat while emitting small greenhouse gases, such as methane (CH4), carbon oxide (CO2), and nitrous oxide (N2O). Biogas is produced by decomposition of food scraps and animal waste. Biogases have several benefits, such as being eco-friendly, groundwater protection and increased crop yields. Therefore, the growing demand for renewable energy due to growing environmental concerns is one of the key drivers anticipated to drive the market growth over the forecast period.

Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Biogas market is predicted to grow at a CAGR of roughly 4.1% during the forecast period.
• The Biogas market was estimated to be worth roughly USD 59.1 Billion in 2021 and is expected to reach USD 75.2 Billion by 2028; based on primary research.
• On the basis of region, Asia Pacific is projected to dominate the worldwide Biogas market.
  

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Segmentation of the Global Biogas Market:

• Source
  • Municipal
  • Industrial
  • Agricultural
• Application
  • Vehicle Fuel
  • Electricity
  • Heat
  • Upgraded Biogas
  • Cooking Gas
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Growing Demand for Upgraded Biogas

The conservation of fossil fuels combined with environmental degradation is one of the biggest challenges. The use of renewable energy sources has been witnessed to be an ideal solution to remedy the situation of fossil fuel depletion and environmental degradation. This gas plays a vital role in shaping society as a whole and in reducing oil dependence. This gas turns into bio methane due to its high methane content. Bio methane contains substances such as natural gas. According to the International Renewable Energy Agency (IRENA), this gas is a fuel for cars and can reduce greenhouse gas emissions by about 60-80% compared to fossil fuels. Currently, about 150 petrol stations in Germany supply 100% bio methane. Therefore, the high demand for improved biogas is expected to increase the demand for bio methane.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

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The Report on Biogas Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Regional Analysis:

Europe Holds Maximum Market Share

Europe is expected to dominate the growth of Biogas Market in 2021. This is owing to various levels of the government offering funding for biogas or having put into place policies to support the industry. With existing infrastructure and the government’s supportive schemes, the region will likely dominate the market during the forecast period. According to the International Renewable Energy Agency (IRENA) report, the region cumulatively generated around 63,380 GWh of electricity in 2019. Germany has the highest number of biogas plants, followed by Italy, France, Switzerland, and the United Kingdom.

List of Prominent Players in the Biogas Market:

• Scandinavian Biogas Fuels International AB
• Schmack Biogas Service
• Gasum Oy
• Total Energies
• Agrinz Technologies GmbH
• Home biogas Inc.
• Xebec Adsorption Inc.
• DMT International
• Air Liquide
• Planet Biogas
• BEKON GmbH
• Wartsila Corporation
• Envi Tech Biogas AG
• Greenlane Renewables
• Asia Biogas
  

Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Biogas Market Size, Share & Trends Analysis Report by Source (Municipal, Industrial, Agricultural), by Application (Vehicle Fuel, Electricity, Heat, Upgraded Biogas), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/biogas-market-829062

Recent Developments:

January 2022 - Bio Construct announced that it had entered into a Power Purchase Agreement (PPA) with Next Kraftwerke, a power trading company based in Cologne, Germany. The company also said Kraftwerke will sell 40,000 MWh of biogas electricity in the first quarter of 2022 under the following agreements. Bio Construct is responsible for supplying electricity to biogas plants and customer facilities. A total of 86 biogas CHP plants participates in the PPA at a fixed price.

January 2022 – Ag Grid Energy announced plans to build a fourth biogas power plant project in Connecticut, USA. Hytone Ag Grid will work with Hytone Farms to develop the project. This will be Ag Grid's fourth dairy brewery in the northeastern United States, with construction beginning in March. The facility will generate approximately 4.5 million kWh of renewable electricity annually from manure and food waste.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Biogas Market?
• How will the Biogas Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Biogas Market?
• What is the Biogas market drivers and restrictions?
• What will be the CAGR and size of the Biogas Market throughout the forecast period?

This market titled “Biogas Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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