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Biomethane Market to Reach Valuation of USD 8.41 Billion by 2029 Insights™
Biomethane Market to Reach Valuation of USD 8.41 Billion by 2029; Increasing Demand for Emission-Free Natural Gas to Drive Market Growth: Fortune Business
Bharat Jagtap
3 min read

The global biomethane market size was valued at USD 5.76 billion in 2021. The market is expected to grow from USD 6.04 billion in 2022 and reach USD 8.41 billion by 2029 with a CAGR of 4.8% during the forecast period. Increasing demand for emission-free natural gas and generation of various raw materials, such as industrial waste, food waste, agricultural waste, and others, is anticipated to drive market growth. Rise in demand for gas from the automotive industry for power generation and transportation fuel is expected to propel the market course. The transformation of waste into renewable energy and increasing environmental concerns is projected to assist in the market development. Fortune Business Insights™ shares this information in its report titled “Biomethane Market, 2022-2029.”

Industry Developments:

July 2021- Weber Green Tech, an investor and partner in Renergon International AG, invested in advanced biogas technology to support global sustainability goals of energy conversion. The merger is set to create a new key player in the market in the operation and construction of organic waste processing plants.

Get Free sample of Research Report: https://www.fortunebusinessinsights.com/industry-reports/bio-methane-market-100272

Market Drivers and Restraints:

Mounting Demand from the Automotive Industry to Boost Market Growth

One of the major reasons for the increase in the demand for bio-methane is the generation of the demand from the automotive industry which is projected to boost the biomethane market growth. A German Energy Agency named Deutsche Energie Agentur (DENA) reported in 2020 that filling station sales exceeded 1 TWh, which was around 733 GWh in 2019.

However, massive financial investment for installing the facility and extremely combustible nature of the gas is expected to obstruct the market development.

Segments

Organic Residue & Waste to Dictate Due to its Easy Convenience

On the basis of feedstock the market is divided into organic residue & wastes and energy crops. Organic residue & wastes segment accounts for the major part due to the easy convenience of raw material globally. China has an agricultural waste worth of 4.8 billion tons. Organic residue & waste is divided into biowaste, municipal waste, sewage waste, and agriculture waste.

Anaerobic Digestion Segment to Dominate the Market Owing to its Cost-effectiveness

The anaerobic digestion segment is majorly dominating the market with 78.15% shares. Recently, anaerobic digestion units have been developed worldwide, especially in the U.S., Europe, and China. The U.S. presents the highest total biogas production but originates from landfill at 75%. This country's 1,497 anaerobic plants treat sewage sludge, biowaste, and agricultural & industrial wastes. On the other hand, biogas production in Germany is mainly based on farming and industrial wastes.


Bharat Jagtap
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