The biogas market is expected to register a more than 4. 5% CAGR during the forecast period (2022-2027), from 20. 61 GW in 2020 to 28. 32 GW in 2027. The COVID-19 outbreak in Q1 2020 hampered the biogas market.
New York, June 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biogas Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)" - https://www.reportlinker.com/p06288118/?utm_source=GNW For instance, much of the groundwork was stopped for Mount Everest Biogas Project in Nepal during the outbreak. Further, due to COVID-19, India will likely miss its target of 15 million biogas production by 2023. The biogas market is primarily driven by rising electricity demand and the growing focus on alternative fuels to achieve an imperishable form of energy and security. However, a lack of awareness and understanding about biogas as a source of energy in the general public is likely to hinder the market growth. Key Highlights The electricity generation segment is expected to hold a dominant market share. Rising electricity costs and transition to clean energy generation from renewable sources, such as biogas, are expected to drive the segment’s growth during the forecast period. With the potential to reduce greenhouse emissions by 18-20% of the current greenhouse gas emission of 4,360 Mt CO2 equivalent, and with the potential to meet 19% of the global electricity demand by 2050, the biogas market is excepted to have a tremendous opportunity in the future. Europe was the largest biogas market in 2021 and is expected to dominate the market during the forecst period. Key Market Trends Electricity Generation Expected to Dominate the Market The world in the past decade witnessed a constant increase in global electricity generation due to increasing energy demand from ever-increasing levels of population, industrialization, and urbanization. In 2021, global electricity generation amounted to 2752.52 Terawatt-hours (TWh), which rose from 21570.7 TWh in 2010. According to the International Energy Agency, the global energy demand is expected to witness a year-on-year growth rate of 9% till 2030.? Biogas is a crucial source of electricity generation in the power sector, thereby contributing to the global goals of the clean energy transition. The generation of electricity from Biogas is an established technology being widely implemented worldwide. CHP engines are often used for electricity generation, with heat recovery and use. ? According to the World Biogas Association (WBA), Biogas can reduce global GHG emissions by 10-13% and provide renewable energy from the world’s food waste, industrial production wastes, feedstocks from agriculture, and sewage. The reduction in GHG and optimization of fuels are expected to impact electricity generation from Biogas positively.? Moreover, developing regions, such as Asia-Pacific, South America, and Africa, are developing several plans and strategies to increase the role of Biogas in their electricity generation mix. For instance, EnviTec Biogas AG is budling eight biogas plants in China, and the company has already handed over the five biogas plants to the government of China. Furthermore, The company is ready for the handover of its 6th and 7th biogas plants. Both plants have a biogas generation capacity of around 37,000 Nm³ per day. Moreover, the last 8th plant is expected to be completed by June 2022.? Furthermore, in 2021, GAIL Limited announced an investment of more than INR. 50 billion to build a portfolio of around 1 GW of renewable energy, including solar, wind biogas, and ethanol plants. The company will set up at least two compressed biogas plants, and an ethanol factory would entail an investment of about INR 8 to 10 billion. The company aims to achieve 1 GW in three to four years. ? Moreover, in May 2022, the Ghana government commissioned a new Hybrid-PV-Biogas-Pyrolysis-Plant with a capacity of 400kW at Ashanti, Ghana. The time required to complete this project was of the 48-month project. The plant can process 12 tons of waste into bio-fertilizer and energy daily. The project can generate power of 200KW from solar, 100KW from biogas, and an additional 100KW from the pyrolysis of plastic waste. ? Thus, such developments are expected to support the growing electricity demand worldwide during the forecast period. Europe to Dominate the Market According to the Europe Biogas Association (EBA), biogas production in Europe is expected to reach 98 billion cubic meters (bcm) of biomethane by 2050.? In the recent years, Europe witnessed significant growth in the installation of a biogas plant. As of 2021, according to the European Biogas Association, about 18,977 biogas plants and 1,023 biomethane plants were installed, with a total installed capacity of 167TWh and 2.5 billion cubic meters (bcm).? Germany has more than 9,692 biogas plants, as of 2021. Apart from biogas plants, Germany also has a small number of plants burning wood or generating heat from biogenic waste. From 1,050 plants in 2000, the number of biogas plants reached nearly 9,692 in 2021. ? Further, the country develops a new biogas infrastructure that can provide additional support to the growing biogas market. For instance, in April 2022, Wärtsilä announced the construction of a major bio-LNG facility in Germany. The facility is likely to be the second-largest facility in the world capable of liquefying biomethane and synthetic methane from renewable energy to produce REEFUEL - a carbon-neutral transportation fuel. The plant is expected to become fully operational by the first quarter of 2024.? Similarly, in June 2020, a collaboration of industry partners in the biomethane industry and the Deutsche Engergie-Agentur, built a new biogas pipeline that can bundle raw biogas supplies up to 48 biogas plants across Germany.? As of 2021, the United Kingdom had around 1,841MW of biogas installed capacity. Most of the biogas (including sewage and landfill gases) produced in the United kingdom (19TWh) is used for power generation. ? Moreover, According to the Renewable Energy Association, around 8PJ of biomethane is qualified for payments under the renewable heat incentive (RHI), and biomethane production likely to reach 110PJ in 2026 as new plants come online. ? For instance, in December 2021, AstraZeneca announced a partnership with Future Biogas, to support the development of a 125GWh biomethane production plant fitted with carbon capture technology. The construction of the plant is expected to begin in 2023 and is expected to commence commercial operations by 2025. Such projects are likely to lead to the growth of the biogas market during the forecast period.? Hence, the afore-mentioned points, Europe is likely to dominate the market during the forecast period. Competitive Landscape The biogas market is moderately consolidated. Some of the key players in the biogas market include Engie SA, DMT International, IES Biogas, EnviTec Biogas AG, Weltec Biopower GmbH, Schmach Biogas GmbH, and AEV Energy GmbH. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06288118/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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