Forecast: Biogas Industry to Hit USD 147.08 Billion by 2034 with 6.30% CAGR

The biogas market size is estimated to be worth USD 79.84 billion in 2024 and is projected to be valued at USD 147.08 billion by 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 6.30%.

The desire to minimize greenhouse gas emissions and the global trend towards renewable energy sources in response to climate change concerns is a primary factor driving the expansion of the biogas market. As a renewable energy source, biogas is essential for lowering dependency on fossil fuels and diversifying the energy mix.

Feed-in tariffs, renewable energy objectives, tax credits, and grants are examples of supportive government policies and incentives that encourage investment in biogas projects and foster a favorable market environment. These regulations give biogas producers incentives and financial security, which propels market expansion.

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Growing environmental consciousness regarding air and water pollution, landfilling, and greenhouse gas emissions propels the usage of biogas technology as an environmentally friendly waste management option. Producing biogas from organic waste streams helps divert garbage from landfills, lessen odor pollution, and reduce methane emissions.

The efficiency, dependability, and economics of biogas generation are increased by ongoing developments in biogas technology, which include enhancements to anaerobic digestion procedures, biogas purification, and upgrading systems. Technological advancements encourage market expansion by making biogas a more competitive renewable energy source.

Key Takeaways

  • From 2019 to 2023, the biogas market expanded at a CAGR of 4.70%.
  • Based on the source, the agriculture segment is expected to account for a market share of 32.50% in 2024.
  • The demand for biogas in the United Kingdom is predicted to grow at a CAGR of 2.65% through 2034.
  • In the United States, the biogas industry is estimated to register a CAGR of 3.80% from 2024 to 2034.
  • China is projected to expand by a CAGR of 7.56% between 2024 and 2034.
  • The biogas market in India is anticipated to record a CAGR of 10.08% during 2034.

“The biogas industry is expanding due to a confluence of factors including favorable regulations, environmental consciousness, technological advancements, and available market possibilities,” says an Analyst at Future Market Insights (FMI).

Competitive Landscape

Businesses in the biogas industry spend money on R&D to create innovative technologies for upgrading and purification, optimize anaerobic digestion processes, and increase biogas yields. Technological innovation enables market participants to boost biogas's overall competitiveness as a renewable energy source by decreasing costs, increasing efficiency, and improving overall efficiency.

  • SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB is a Swedish company developing, building, and operating biogas plants. They focus on producing biogas from organic waste and wastewater treatment, with a focus on sustainability and circular economy principles.
  • Schmack Biogas GmbH is a German firm specializing in biogas plants' engineering, construction, and operation. It is a subsidiary of the Viessmann Group. They provide complete solutions for producing biogas from various feedstocks, such as organic residues, energy crops, and agricultural waste.

Top Key Players in the Biogas Market

  • Air Liquide
  • Asia Biogas
  • SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB
  • Schmack Biogas GmbH
  • Swedish Biogas International AB
  • PlanET Biogas Global GmbH
  • S. P. Renewable Energy Source Pvt. Ltd
  • Agrinz Technologies GmbH
  • Greenlane Biogas

More Valuable Insights Available

Future Market Insights offers an unbiased global biogas market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand opportunities in the biogas industry, the industry is segmented based on Source (Agriculture, Municipal, Industrial, Others) By Application (Electricity, Heat, Vehicle Fuel, Others), Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa)

 

 

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