Inclination toward the renewable energy consumption, growth in the application of biogas, rise in demand for biogas as alternative fuels, and net zero targets and aim to decarbonize the economy drive the growth of the global biogas plant market.
PORTLAND, Ore., April 20, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Biogas Plant Market by type (Balloon Plants, Fixed-Dome Plant, And Floating-Drum Plants), By Operation Mode ( Continuous Flow Filling and Semi-Batch Filling), By Size (Small Size Biogas Plant and Large Size Biogas Plant), By Feedstock Type (Agricultural Waste, Animal Waste, Industrial Waste, Sewage Sludge and Others), By Application (Electricity Generation, Heat Generation, and Biofuel Generation), By Industry Vertical (Oil and Gas, Energy and Power, Automotive and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global biogas plant industry generated $3.8 billion in 2022 and is anticipated to generate $5.6 billion by 2032, witnessing a CAGR of 4.3% from 2023 to 2032.
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Prime determinants of growth
Inclination toward the renewable energy consumption, growth in the application of biogas, rise in demand for biogas as alternative fuels, and net zero targets and aim to decarbonize the economy drive the growth of the global biogas plant market. However, the high installation cost and temperature sensitive procedures in biogas plants restrict the market growth. On the other hand, the adoption of small-scale biogas plants in residential and industrial areas provides lucrative opportunities for the market growth.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $3.8 billion |
Market Size in 2032 | $5.6 billion |
CAGR | 4.3 % |
No. of Pages in Report | 350 |
Segments Covered | Type, Operation Mode, Size, Feedstock Type, Application, Industry Verticals, and Region |
Drivers | Inclination toward the renewable energy consumption Assist in managing and utilization of waste going to landfills |
Opportunities | Creation of by-product in biogas plant Adoption of small-scale biogas plant in residential and industrial area |
Restraints | High installation cost and temperature sensitive procedures in biogas plants Lack of technology development |
Covid-19 Scenario
- Due to the COVID-19 pandemic and the subsequent global lockdowns, the biogas plant market faced a downturn.
- However, as the global situation started to improve, the demand for biogas has restored. This, in turn, presented various growth opportunities for companies operating in the biogas plant market.
The fixed-dome plant segment is expected to grow faster throughout the forecast period.
Based on type, the fixed-dome plant segment held the highest market share in 2022, accounting nearly half of the global biogas plant market revenue and is likely to dominate the market during the forecast period. This segment is also projected to manifest the highest CAGR of 4.6% from 2023 to 2032, as the system is affordable, simple to install, and contribute toward energy production with no environmental impact. The fixed-dome plant has a large gasholder which increases its demand in the biogas plant market.
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The agricultural waste segment is expected to grow faster throughout the forecast period.
Based on feedstock type, the agriculture waste segment accounted for the largest share in 2022, contributing to around one-third of the global biogas plant market revenue and is likely to dominate the market during the forecast period. The same segment is expected to portray the CAGR of 4.7% from 2023 to 2032, as agriculture waste is easily available in the form of organic waste. The decomposing of agriculture waste is easy and also increases the production of biofertilizers which can be further used in agriculture.
The electricity generation segment maintained its lead position during the forecast period.
Based on application, the electricity generation segment accounted for the largest share in 2022, more than half of the global biogas plant market revenue and is likely to dominate the market during the forecast period. The same segment is expected to portray the CAGR of 4.5% from 2023 to 2032, owing to increase in the demand for clean and renewable sources in electricity generation. Biogas is produced from the waste which has no impact on environment. In the developing countries, the power plants are producing electricity on hybrid basis which lower the dependency on sole source. In addition, rise in demand for clean power in developing nations is expected to drive the growth of biogas in the electricity generation segment during the forecast period.
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Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global biogas plant market revenue. This region is also expected to witness the fastest CAGR of 4.5% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to increase in number of biogas plants in developing countries. There is a rise in demand for small-scale biogas plant in Asia countries which is expected to be the key factor driving the biogas plant market growth during the forecast period in Asia-Pacific. Europe region is expected to follow Asia-Pacific region during the projection period. This is owed to several biogas plant projects being planned and enforced in countries like China, Japan, India, and South Korea.
Leading Market Players: -
- Ameresco
- PlanET Biogas Group GmbH
- Biofrigas Sweden AB (Publ)
- Gasum Ltd
- EnviTec Biogas AG
- Air Liquide
- CH4 Biogas
- IES BIOGAS srl
- Wärtsilä
- Renergon International AG
The report provides a detailed analysis of these key players in the global biogas plant market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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