Biogas Market Case Studies: Successful Projects Around the Globe

The global biogas market was valued at USD 65.53 billion in 2023 and is projected to reach USD 87.86 billion by 2030, growing at a CAGR of 4.2% from 2024 to 2030. This growth is driven by rising product demand across various application segments, including heat, electricity, upgraded biogas, vehicle fuel, and cooking gas.

Additionally, the increasing emphasis on renewable energy, especially in the electric power sector, has significantly boosted biogas demand for electricity applications. The growing necessity to reduce reliance on fossil fuels is also creating lucrative opportunities for biogas in vehicle fuel applications.

In North America, the U.S. has emerged as one of the largest biogas markets in 2023 and is expected to experience substantial revenue growth over the forecast period. The U.S. government has implemented various regulations aimed at decreasing dependence on conventional fuels and achieving its zero carbon emissions target. Key factors influencing market growth include favorable regulatory and political support, environmental initiatives, customer demand, geopolitical factors, and agricultural and economic support.

The demand for biogas in North America is predominantly driven by the U.S. The increasing need for applications such as cooking gas, electricity, vehicle fuel, and heat is projected to positively impact industry growth throughout the forecast period. Major factors supporting the regional market include a high demand for green fuels, stringent environmental regulations, and increased investment in refinery development.

Key Market Trends & Insights

• Europe was the leading regional segment, capturing approximately 41% of the revenue share in 2023. The growth of the European biogas sector is fueled by technological advancements and increased investments in the refinery industry. Companies across Europe are committing substantial capital to research and develop biogas production from existing sources, with plans to expand their feedstock share in the coming years.

• The growth of Italy's biogas market is largely driven by government initiatives aimed at decarbonization. For example, in March 2021, Eni SpA (BIT: ENI) announced its intention to acquire an Italian biogas company from FRI-EL Greenpower, a holding of the Gostner family, through its circular economy subsidiary, Ecofuel. This acquisition is still pending approval from the relevant antitrust authorities.

• In terms of application, the electricity segment led the market, accounting for around 30% of the revenue share in 2023. The growing emphasis on renewable energy, particularly in the electric power sector, has significantly boosted the use of biogas for electricity generation.

• By source, municipal sources represented the largest revenue share at 41.35% in 2023. The increasing utilization of municipal solid waste (MSW) for biogas production, aimed at reducing landfill usage and greenhouse gas emissions, is anticipated to drive market demand throughout the forecast period.

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Market Size & Forecast

• 2023 Market Size: USD 65.53 Billion • 2030 Projected Market Size: USD 87.86 Billion • CAGR (2024-2030): 4.2% • Europe: Largest market in 2023

Key Companies & Market Share Insights

• Biogas industry is highly competitive due to the global presence of major companies. Key biogas solutions & service providers include Air Liquide, PlanET Biogas, Wartsila, EnviTech Biogas AG, Robert Bosch GmbH, Asia Biogas, and Schmack Biogas GmbH. Air Liquide, PlanET Biogas, Wartsila, and EnviTech Biogas AG are full-scale manufacturers and leaders in terms of investment in R&D.

• Spanish companies are taking active steps to drive the adoption of biogas in the country. For instance, Repsol, a Spanish fuel company, in June 2020, announced the development of an industrial-scale biogas project.

Key Players

• Agrinz Technologies GmbH • Air Liquide • DMT International • Gasum Oy • HomeBiogas Inc. • PlanET Biogas • Scandinavian Biogas Fuels International AB • Schmack Biogas Service • Total • Xebec Adsorption Inc.

Conclusion

The biogas market is positioned for significant growth as it adapts to the rising demand for renewable energy solutions. The U.S. leads the charge in North America, driven by regulatory support and a move towards sustainable energy practices. As various applications expand, the biogas industry is set to play a crucial role in reducing fossil fuel dependency and contributing to a greener future.

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