Biomethane Market to Reach $5.5 Billion, Globally, by 2032 at 5.7% CAGR: Allied Market Research

The growth of the global biomethane market is driven by the environmental benefits, energy security & successful waste management, versatility of applications and policies in support, and financial incentives & R&D

PORTLAND, Ore., Aug. 22, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Biomethane Market by Feedstock (Organic Household, Animal Manure, Energy Crops, Agricultural Waste, Sewage Sludge, and Industrial Food Processing Waste), Production Method (Anaerobic Digestion, Gasification, and Fermentation) and by Application (Power Generation, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global biomethane industry generated $3.1 billion in 2022 and is estimated to reach $5.5 billion by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.

Biomethane, also referred to as renewable natural gas (RNG), is produced either by gasification of solid biomass or by removing CO2 and other contaminants present in the biogas. Biomethane is widely used for generating power, fueling vehicle, and heating purposes.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/12315

Prime determinants of growth

The growth of the global biomethane market is driven by the environmental benefits, energy security & successful waste management, versatility of applications and policies in support, and financial incentives & R&D. However, production involves complex technological processes, and there are ongoing challenges in optimizing these processes for efficiency and cost-effectiveness, which is hindering the growth of the market. Moreover, biomethane provides an opportunity to diversify the energy mix. Communities and countries are projected to reduce their dependence on imported fossil fuels by utilizing locally available organic waste materials. This enhances energy security and reduces exposure to geopolitical risks associated with fossil fuel imports.

Report Coverage & Details:

The energy crops segment is projected to maintain its dominance throughout the forecast period

Depending on the feedstock, the energy crops segment held the highest market share in 2022, accounting for more than one-third of the global biomethane market. It is also expected to grow at a significant CAGR of 6.0% during the projection years. This is attributed to their high energy content, which allows for efficient conversion into biomethane. Moreover, these crops are typically fast-growing and have high cellulose or starch content, which are expected to be easily digested by microorganisms during anaerobic digestion.

Procure Complete Report (267 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3ONixhk

The anaerobic digestion segment is expected to dominate the market growth during the forecast period

Depending on the production method, the anaerobic digestion segment held the highest market share in 2022, accounting for more than three-fifths of the global biomethane market. It is also expected to grow at a significant CAGR of 5.8% during the projection years. Biomethane produced through anaerobic digestion is considered a renewable energy source. It is derived from organic materials that would otherwise decompose and release methane, a potent greenhouse gas, into the atmosphere. In addition, ongoing advancements in anaerobic digestion technologies, process optimization, and supportive policies help to overcome these challenges and promote the broader adoption of biomethane as a sustainable energy option.

The automotive segment is expected to dominate the market growth during the forecast period

Depending on the application, the automotive segment held the highest market share in 2022, accounting for around two-thirds of the global biomethane market. It is expected to grow at a significant CAGR of 5.9% during the projection years. It is considered a low-carbon fuel because it is derived from organic waste materials rather than fossil fuel reserves. In addition, biomethane reduces emissions of air pollutants, such as particulate matter, nitrogen oxides (NOx), and sulfur oxides (SOx), compared to gasoline and diesel fuels. Using biomethane as a transportation fuel helps improve air quality and reduce the environmental impact of vehicle emissions.

Asia-Pacific to maintain its dominance throughout the forecast period

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global biomethane market revenue, and is likely to dominate the market during the forecast period. The region is also expected to witness the fastest CAGR of 6.0% from 2023 to 2032. Biomethane remains a significant component of the energy mix in Asia-Pacific. China has been actively promoting the production of biomethane as part of its efforts to increase the use of renewable energy sources. India has been investing in biomethane production from various organic waste sources, including agricultural residues, animal manure, and food waste.

Leading Market Players: -

• EnviTec Biogas AG
• VERBIO Vereinigte BioEnergie AG
• Ecofinity
• Future Biogas Ltd.
• Gazasia Ltd.
• Orbital Gas Systems
• PlanET Biogas Global GmbH
• CNG Services Ltd.
• ETW Energietechnik GmbH
• AB HOLDING SpA.

The report provides a detailed analysis of these key players in the global biomethane market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Want to Access the Statistical Data and Graphs, Key Players' Strategies:
https://www.alliedmarketresearch.com/biomethane-market/purchase-options

Similar Reports:

Synthetic Methane Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Coal Bed Methane Market: Global Opportunity Analysis and Industry Forecast, 2017-2023

Methane Hydrate Extraction Market: Global Opportunity Analysis and Industry Forecast, 2021-2025

Renewable Methanol Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Methanol Market: Global Opportunity Analysis and Industry Forecast, 2021-2030

Catalyst Market: Global Opportunity Analysis and Industry Forecast, 2021-2030

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com 
Blog: https://www.newsguards.com/
Follow Us on | Facebook | LinkedIn | YouTube |

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg