A rise in the level of pollution and the rising concern for the impact of fossil fuels on the planet is driving the market.
The global Biomethane Market is forecast to reach USD 2.95 Billion by 2027, according to a new report by Reports and Data. An increase in the concern related to fossil-fuel emission-based power generation and the rise in focus to achieve diversity is driving the demand for the biomethane market. The availability of feedstock, encouraging government policies, and the shift in the trend for decarbonization is driving the market.
The market is also driven by purely positive air surrounding the establishment of successful biogas plants in terms of reducing the volume of waste disposed into landfills and thus becoming a strong alternative fuel source that is environmentally friendly. However, the lack of implementation of processes and equipment to create a feasible waste segregation system is stifling the current rate of growth. This restricts the overall supply of feedstock to biogas plants, preventing the emergence of several new entrants into the competitive landscape.
The COVID-19 impact:
The industry is expected to witness a slight reduction in demand due to the imposition of lockdown, but it is expected to pick up at a higher rate after the crisis is over as people are becoming more aware of the changing environment. The changes in the climate are generating a need for sustainable products that can limit the usage of depletable products.
Key participants include CNG Services, Orbital, Gazasia, Future Biogas, JV Energen Biogas Global, Verbio, Magne Gas, Gasrec, Biogas Products, and EnviTec Biogas, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biomethane-market
Further key findings from the report suggest
- Anaerobic digestion or AD is the process in which microorganisms break into biodegradable material when no oxygen is present. The process is used to manage domestic or industrial waste or produce fuels.
- One of the feedstock for biomethane is animal manure. The materials used in the biomass are still left to be unexplored, which provides ample growth opportunities to the market.
- Biomethane is produced by a different process, and one of them is gasification. In this process, fossil fuel-based or organic-based materials are converted into hydrogen, carbon monoxide, and carbon dioxide. The segment is forecasted to grow with a CAGR of 6.0% during the forecast period.
- Biomethane is used as a substitute for natural gas and can be used as fuel in applications such as transport, heating, and power generation. It has the same properties as natural gas. In Great Britain, the gas grids are being injected with biomethane, at several biogas upgrading facilities. For instance, AB Agri anaerobic digestion plant in North Yorkshire can process almost 60,000 tonnes of waste every year, and the resultant gas is injected into the site’s gas network.
- Europe is forecasted to grow the largest and is estimated to grow at a CAGR of 6.5% during the forecast year and is expected to maintain its dominance over the forecast period. In Europe, there is a strong development of on-farm and centralized biogas plants and for landfills to recover biogas in electricity production. Most biogas plants were built in Germany within Europe. This will propel the demand for the market.
- By 2030, Ireland plans to achieve 20% renewable gas on the gas network. The first-ever injection facility for biomethane is situated in Nurney, Co. Kildare, and there are plans to implement the facility throughout the country.
For the purpose of this report, Reports and Data have segmented the global Biomethane Market on the basis of Feedstock, Production Method, End-User, and region:
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Feedstock Outlook (Revenue, USD Billion; 2017-2027)
- Animal Manure
- Organic Household Waste
- Agricultural Waste
- Energy Crops
- Sewage Sludge
- Industrial Food Processing Waste
- Others
Production Method Outlook (Revenue, USD Billion; 2017-2027)
- Gasification
- Fermentation
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Power Generation
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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