As per a Future Market Insights (FMI), the global biogas market size is projected to grow at a steady 6.80% CAGR over the forecast period from 2021 to 2031. The overall market size is expected to top US$ 61.2 Bn by 2031, with the U.S., Germany, India, and China emerging as key producers and exporters of biogas.

Shifting focus on renewable sources of energy to reduce fossil fuel dependency is a chief factor driving sales of biogas across various countries. In addition to this, governments in several countries are promoting the adoption of biogas as vehicular fuel, which is expected to augment growth of the market through 2031.

Sales prospects of biogas were dampened due to COVID-19 outbreak. However, with resumption in trade activities, recovery of the biogas market is on cards. FMI has projected demand for biogas market to grow year-over-year by 7.10% globally between 2020 and 2021.

Key Takeaways:

• Based on source, the municipal segment is expected to expand at a steady pace over the forecast period, due to increasing utilization of municipal solid waste (MSW) for biogas production.
• In terms of applications, sales of biogas in the electricity segment are projected to continue rising in response to growing demand for renewable sources of energy.
• The U.S. will emerge as a lucrative biogas market, with sales growing at a 6.10% CAGR in the North America region.
• Germany will continue exhibiting high demand for biogas due to stringent regulations regarding carbon neutrality. The Europe biogas market is poised to grow at a 5.90% CAGR through 2031.
• China is expected to remain one of the key producers and exporters of biogas, accounting for a dominant share of the global biogas market.
• Japan and South Korea will collectively account for 7.40% of the total biogas market share in 2021.

Competitive Landscape

Air Liquide, Wartsila, EnviTech Biogas AG, 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, and Greenlane Biogas are among the leading players operating in the global biogas market.

As per FMI’s analysis, top 5 players comprising Total SA, Air Liquide, Wartsila, Planet Biogas Global GmbH, and EnviTec Biogas AG are projected to hold around 27.10% of the total biogas market share in 2021.

Leading players operating in the biogas market are focusing on production facility expansions through mergers, acquisitions, and collaborations. This is expected to assist manufacturers in gaining a competitive edge in the market.

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