Wilmington, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Biomethane Market by Feedstock (Organic Household, Animal Manure, Energy Crops, Agricultural Waste, Sewage Sludge, and Industrial Food Processing Waste), Production Method (Anaerobic Digestion, Gasification, and Fermentation) and by Application (Power Generation, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". The report indicates that the industry is anticipated to generate $5.5 billion by 2032, having witnessed a value of $3.1 billion in 2022, with a noteworthy CAGR of 5.7% during the forecast period of 2023 to 2032.
Biomethane, often referred to as renewable natural gas (RNG), is generated through two primary methods: gasification of solid biomass or the removal of CO2 and other impurities from biogas. Biomethane finds extensive application in power generation, as a vehicle fuel, and for heating purposes.
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Factors influencing the growth of the global biomethane market
The global biomethane market is expanding rapidly due to factors such as financial incentives, policies in support, versatility of applications, extensive R&D activities, successful waste management, energy security, and environmental benefits associated with biomethane. On the other hand, the market is facing a downturn due to complex technological processes in production and challenges in optimizing these processes for cost effectiveness and efficiency. Nevertheless, countries and communities are estimated to decrease their dependence on fossil fuels by using locally available sustainable waste materials. This reduces exposure to geopolitical risks regarding fossil fuels and improves energy security.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2021 | $3.1 billion |
| Market Size in 2031 | $5.5 billion |
| CAGR | 5.7 % |
| No. of Pages in Report | 267 |
| Segments Covered | Feedstock, Production Method, Application, and Region |
| Drivers | Environmental benefits Energy security and successful waste management Versatility applications and policies in support Financial Incentives and R&D |
| Opportunities | Energy-mix diversification through biomethane Scalability and flexibility of the production process Boost in waste management and circular economy |
| Restraints | Feedstock availability High investment costs Technological challenges |
The energy crop segment to retain its dominance by 2032
In terms of feed stock, the energy crop segment contributed to the major share of more than one-third of the global biomethane market in 2022 and is expected to showcase the highest growth with 6.0% CAGR from 2023 to 2032. The segment is driven by the high energy content of energy crops, which enables efficient conversion into biomethane. Additionally, these crops grow rapidly and contain high starch or cellulose content, which are estimated to digest easily by microbes during anaerobic digestion.
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The anaerobic digestion segment to experience the fastest growth during the forecast period
On the basis of production method, the anaerobic digestion segment contributed for the highest share of more than three-fifths of the overall market revenue in 2022. The same segment would showcase the fastest growth with 5.8% CAGR throughout the forecast timeframe. Biomethane, generated through the anaerobic digestion process, is recognized as a renewable energy source. It is derived from organic materials that would naturally decay and emit methane, a potent greenhouse gas, into the environment. Furthermore, continuous improvements in anaerobic digestion technologies, process refinement, and supportive policies play a pivotal role in addressing these challenges and encouraging the wider use of biomethane as a sustainable energy alternative.
The automotive segment to dominate the market by 2032
In terms of application, the automotive segment garnered the major share of around two-thirds of the global biomethane market in 2022 and is estimated to showcase the highest growth with 5.9% CAGR throughout the forecast timeframe. Biomethane is generated from organic waste materials, hence it is considered as a low-carbon fuel. Additionally, biomethane eliminates emissions of air pollutants like NOx (Nitrogen Oxides), particulate matter, and SOx (Sulfur Oxides) as compared to diesel fuels and gasoline. Utilizing biomethane as a transparent fuel aid enhances air quality and reduces the carbon footprint of vehicle emissions.
Asia-Pacific to grab the lion’s share by 2032
On the basis of regional analysis, the APAC region generated the highest revenue of around two-fifths of the global biomethane market and is anticipated to continue its supremacy with highest CAGR of 6.0% during the forecast period. Biomethane plays a substantial role in the energy landscape of the Asia-Pacific region. China has been actively supporting to produce biomethane as a key element of its initiatives to boost the utilization of renewable energy sources. Meanwhile, India has been making investments in the production of biomethane from a variety of organic waste sources, encompassing agricultural residues, animal manure, and food waste.
Key market players in the global biomethane market:
- AB HOLDING SpA.
- ETW Energietechnik GmbH
- CNG Services Ltd.
- PlanET Biogas Global GmbH
- Orbital Gas Systems
- Gazasia Ltd.
- Future Biogas Ltd.
- Ecofinity
- VERBIO Vereinigte BioEnergie AG
- EnviTec Biogas AG
The report offers an extensive analysis of major players in the global biomethane market. These participants have implemented various strategies, including launching new products, collaborating with others, expanding their operations, entering joint ventures, forming agreements, and more, to enhance their market presence and retain a strong foothold in different regions. The report is a valuable resource for shedding light on business performance, operational divisions, product offerings, and strategic actions taken by market players to illustrate the competitive landscape.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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