ALBANY, New York, July 25, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Biomethane Market by Feedstock (Organic Household Waste, Animal Manure, Energy Crops, Agricultural Waste, Sewage Sludge, Industrial Food Processing Waste, and Others), by Application (Automotive, Power Generation, and Others), by Production Method (Fermentation and Gasification) -Global Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025." According to the report, the global biomethane market revenue was US$ 1,485.4 Mn in 2016 and is projected to reach US$ 2,624.5 Mn by 2025 at a CAGR of 6.7% from 2017 to 2025.
Biomethane is a naturally occurring gas produced by anaerobic respiration of organic matter like plant and animal wastes, manure, sewage, and other organic matter. Biomethane is chemically identical to natural gas. Natural gas is stored deep into the ground either onshore or offshore and this gas is also produced from the remains of the dead and other organic matter. Natural gas falls under the category of fossil fuel whereas biomethane falls under green gas, a clean source of energy. Biomethane is produced from organic matter and thus it is a renewable source of energy produced worldwide.
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Biomethane plants utilize almost all types of organic wastes, it reduces greenhouse gas (GHG) in the atmosphere, and it has high potential usage in automotive and power generation sector. These are some of the major reasons for high generation and utilization of biomethane. The developed countries of the world are diversifying their energy demand with more of renewables. The recently held Climate Change Conference in Paris is also one of the major reason for the countries to include more of renewables and cleaner fuels in the energy mix. The European countries, especially, have set the targets to increase the share of renewable energy to 20% by 2020 and eventually increase to 80% by 2050.
Apart from being an environmentally friendly gas with high potential usage in the automobile sector, biomethane production can utilize the same infrastructure setup for natural gas production. This eliminates additional setup cost in biomethane production. This is anticipated to be a major factor for development of biomethane as a more feasible option to the fossil fuel in various countries across the globe.
In 2016, Europe and North America held significant share of biomethane production and consumption. This trend is expected to be significant for the forecast period. European countries has favorable laws and financial support schemes for the technology to produce biomethane. These laws have made the European region a market leader in biomethane production and consumption. The leading countries in the European region as well as globally in biomethane market are Sweden, Switzerland, Germany and France. These countries have higher rate of adoption of biomethane as an alternative fuel.
Key major players operating in the biomethane market include CNG Services Ltd., SGN, PlanET Biogas Global GmbH, Future Biogas Ltd., VERBIO, Magne Gas, Gasrec, Gazasia Ltd., Biogas Products Ltd., Schmack Carbotech GmbH, EnviTec Biogas AG, SoCalGas, ETW Energietechnik GmbH, ORBITAL, and JV Energen.
The global biomethane gas market is segmented as follows:
Global Biomethane Market: by Feedstock
- Organic Household Waste
- Animal Manure
- Energy Crops
- Agricultural Waste
- Sewage Sludge
- Industrial Food Processing Waste
Global Biomethane Market: by Application
- Power Generation
Global Biomethane Market: by Production Method
Global Biomethane Market: by Region
- Latin America
- Rest of Latin America
- Rest of Europe
- Rest of Asia Pacific
Middle East & Africa
- South Africa
- Rest of Middle East and Africa
Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/biomethane-market.htm
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SOURCE Transparency Market Research