Global Biogas Market: Snapshot
Biogas is a combination of various gases that are generated through anaerobic digestion, fermentation, or other processes. It is primarily generated using waste products from the agricultural industry, sewage or edible waste, plant and industrial waste, and municipal garbage collection. Biogas commonly holds valuable applications as a fuel source intended for space heating, powering vehicles, cooking, and heat and electricity production.
The popularity ratings of biogas among environment conscious consumers has soared over the years owing to it being a renewable source of energy with only a minor carbon footprint. The overall value and share of the global biogas market within renewable energies is forecast to increase significantly owing to improvements in production technologies as well as possibilities of newer generation techniques that would eventually enable the players to generate biogas at a more efficient level and on a broader regional scale. Currently however, the global biogas market suffers from the lack of sophisticated and efficient technologies and shows high potential for incorporating upgrades.
The global biogas market is scheduled to expand at a considerable CAGR of 6.56% in terms of volume, within a forecast period from 2015 to 2023. The market recorded 22,488.0 kilo ton of oil equivalent in 2014, which is likely rise up to 39,845.58 KTOE by the end of 2023.
Biogas Research and Investments Very High in North America
On the basis of regions, the global biogas market can be divided into Europe, North America, Asia Pacific, and the Rest of the World. North America and Europe have so far been the key regions in the global biogas market. In 2014, Germany had led the overall production rates of biogas in Europe, thanks to the nation’s special interest in the large scale use of biogas and the consequent installation of a large number of now operational biogas plants. Countries such as Sweden, the U.K., and France are also adopting the biogas and other ecofriendly fuel sources swiftly to reduce their overall carbon emissions. Both North America and Europe are likely to continue showing high levels of promise of growth in the coming years due to increasingly stringent carbon emission regulations aimed at curbing pollution.
Meanwhile, Asia Pacific nations are likely to emerge as focal points for many key biogas market players over the coming years, due to the large amounts of agricultural waste and municipal waste generated. A key factor that may impede the biogas market’s growth in this region is the heavy initial investments required for the installation of large scale plants, as well as the complexities involved in waste segregation to separate potential biogas fuels from other waste products.
Electricity and Heat Considered Foremost Biogas Applications
The global biogas market so far has its leading applications in the segment of electricity and heat. This collective segment took up over 50% of the in 2014 in terms of value. It is also forecast to show a healthy growth rate in the upcoming years on account of a rising demand for clean energy globally. This includes the introduction of favorable regulatory policies towards greener fuels while reducing the overall global dependence on fossil fuels. Additional factors leading to the growth of the global biogas market and the applications of biogas in electricity and heat generation is the currently volatile nature of pricing and availability of crude oil. In the near future, the number of natural gas vehicles plying on the roads would likely increase, thereby boosting the segment’s market share.
The leading players in the global biogas market so far, have included Cryonorm BV, Vanzetti Engineering S.r.l., Swedish Biogas, Air Liquide Advanced Business & Technologies, Scandinavian Biogas Fuels, EnviTec Biogas AG, Wärtsilä Corp., Cryostar SAS, Gasrec Ltd., and Biofrigas Sweden AB.
Sources of green energy are increasingly being discussed, designed, and developed as nations are realizing the pressure of global warming and harmful effects of greenhouse gases. Owing to these reasons, biogas has become an integral part of the energy generation mix in most countries, as they are trying to reduce their dependence on conventional sources of energy. Biogas is produced by using municipal waste, plant material, agricultural waste, manure, green, waste sewage, or food waste. This renewable source of energy has a very low carbon footprint and it offers multiple benefits.
The report on the global biogas market gives an overview of the drivers, restraints, opportunities, and threats acting on this market. It assesses these with the help of a SWOT analysis. Furthermore, it also uses a Porter’s five forces analysis to gauge the threat from new entrants, threat of substitute products or services, bargaining power of customers, bargaining power of suppliers, and intensity of competitive rivalry. The report offers a lucid explanation of every intricate aspect of the market to help its readers make important decisions.
Overview of the Global Biogas Market
The global biogas market generated 22,488.0 KTOE in 2014 and is expected to generate 39,845.5 KTOE by 2023, growing at a CAGR of 6.5% from 2015 to 2023 in terms of volume. This incredible growth can be attributed to the increasing greenhouse gas (GHGs) emissions and their hazardous impact on the environment. Governments across the globe and several environmentalists are encouraging the usage of biogas, as it is a cleaner fuel than petroleum fuels. Owing to these reasons, several biogas plants will be set up across the globe in the coming years. The only factor restraining the growth of the global biogas market is the huge installation costs involved in the setup.
The global biogas market has been segmented on the basis of geography and applications. Biogas is used for generating electricity, heat, as a vehicle fuel, and for other minor applications. The electricity and heat application segments of the global biogas market were the largest segments in 2014 and are expected to continue their dominance in the near future as well. Analysts also predict that a growing number of vehicles around the world will use biogas as fuel in the years to come, which will boost demand for biogas a vehicle fuel. Some of the countries encouraging the use of biogas in cars are Thailand, Malaysia, India, Sweden, China, and Germany.
Companies Mentioned in the Biogas Market Research Report
The key players in the biogas market are Air Liquide Advanced Business & Technologies, Vanzetti Engineering S.r.l., EnviTec Biogas AG, Wärtsilä Corporation, Swedish Biogas International AB, Gasrec Ltd., Cryostar SAS, Biofrigas Sweden AB, Scandinavian Biogas Fuels International AB, and Cryonorm BV.
The biogas market has been segmented as follows:
Global Biogas Market: Application Analysis
- Electricity & Heat
- Vehicle Fuel
Global Biogas Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World (RoW)
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments