Biogas Market to Grow by 6.8% CAGR through 2031 as Focus on Reducing Fossil Fuel Dependency Rises Worldwide: FMI

Rising concerns regarding greenhouse gasses emissions and the implementation of stringent regulations to reduce fossil fuel dependency are encouraging countries to shift from using conventional sources of energy to biomass-derived sources such as biogas and bioethanol. On account of this, the biogas market is estimated to expand at a CAGR of 6.8% during the forecast period from 2021-2031. Rising concerns regarding greenhouse gasses emissions and the implementation of stringent regulations to...

Rising concerns regarding greenhouse gasses emissions and the implementation of stringent regulations to reduce fossil fuel dependency are encouraging countries to shift from using conventional sources of energy to biomass-derived sources such as biogas and bioethanol. On account of this, the biogas market is estimated to expand at a CAGR of 6.8% during the forecast period from 2021-2031.

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Renewable sources of energy such as biogas are increasingly gaining acceptability as an alternative to petrol and diesel across the transportation sector. It is extensively being used in natural gas vehicles (NGVs) and dual-fuel vehicles in countries such as the U.S., Germany, Sweden, and the U.K. Driven by this, the sales of biogas are anticipated to rise year-over-year at 7.1% between 2020 and 2021.

Moreover, increasing consumer inclination towards adoption of biogas owing its advantages such as cost reduction, high vehicular performance, and sustainability is driving the market. Considering this, the demand for biogas is projected to grow in tandem with surging fuel consumption across the world.

In terms of source, municipal is likely to emerge as the most attractive segment in the market through 2031.  Increasing utilization of municipal solid waste (MSW) and water treatment for the production of biogas is facilitating the growth in the segment.

"Growing utilization of anaerobic digestion plants for biogas production and introduction of the circular economy across the U.S., India, and China are expected to augment the growth in the biogas market," says an FMI analyst.

Key Takeaways from Biogas Market Study

Key Drivers

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Key Restraints

Competitive Landscape

The top five players in the global biogas market are Total SA, Air Liquide, Wartsila, Planet Biogas Global GmbH, and Envitec Biogas AG. As per FMI, these companies are anticipated to account for nearly 27.1% of the total sales in 2021.

Established players are focusing on investing in acquisitions, strategic collaborations, and mergers to expand their productions facilities. Through this, companies are aiming to expand their production capabilities to meet the surging for biogas in the energy segment. For instance,

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Some of the key players operating in the market profiled by FMI are:

More Valuable Insights on Biogas Market

A detailed study by FMI provides an unbiased analysis of vital factors favoring the growth in the global biogas market through 2021 and beyond. The survey offers refined sales projections in biogas market with detailed segmentation:

By Source:

By Application:

Region:

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Key Questions Covered in the Report

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