According to a new report published by Allied Market Research, the biogas plant market size was valued at $3.8 billion in 2022, and is estimated to reach $5.6 billion by 2032, growing at a CAGR of 4.3% from 2023 to 2032.
The biogas plant represents a readily available and future-proof alternative energy solution. Biogas plants have several benefits such as resolving waste management issue, environmental benefits, cost effectiveness which increases the global biogas plant market share.
The biogas plant produces renewable energy which can be used for power generation with no impact on environment. As per biogas plant market forecast, the future of biogas looks promising as biogas is expected to play a dominant role in the energy transition to renewable energy sources.
Biogas plant is a facility in which organic waste and side streams are converted into income by producing renewable energy and organic fertilizer. In 1859, the first biogas plant was built in India. In 1895, a researcher from England, carefully designed a sewage treatment facility and used the produced gas for streetlamps. In 1938, Issman and Duselier build the first biogas plant for solid waste fermentation with digester in Algeria.
Biogas production facilities have been in use since 1930, most notably in association with municipal sewage and agriculture waste. Energy and waste interests led the technology’s growth through the twentieth century, with biogas plant market achieved the most growth in China, Denmark, Germany, and the U.S. countries.
Some of the major players in the biogas plant industry include Ameresco, PlanET Biogas Group GmbH, Biofrigas Sweden AB (Publ), Gasum Ltd, EnviTec Biogas AG, Air Liquide, CH4 Biogas, IES BIOGAS srl, Wärtsilä and Renergon International AG.
The Asia-Pacific region held major share in terms of revenue and is anticipated to grow at a CAGR of 4.5% from 2023 to 2032. Several countries in the Asia-Pacific region are investing in the large and small biogas plant. China has the largest number of biogas plant which makes Asia-Pacific dominant in the global biogas plant market. The Asia-Pacific biogas plant market is growing with the highest CAGR as several developing countries incline towards the green energy transition plans in rural areas.
Surge in awareness and promotion of using green energy solution are expected to drive the global biogas plant market size in the coming years. Biogas plants are energy-saving, economical, safe, and eco-friendly which is expected to fuel biogas plant market growth in renewable power infrastructure projects.
Biogas is used to produce power at minimal cost which boosts the biogas plant market trends during the forecast period. Government and higher authorities are amending waste management policies which is creating biogas plant market opportunities in forecast period.
Today, a biogas plant consists of a biodigester tank in which uses organic waste as feedstock and anaerobic bacterial action takes place. The digester will generate biogas at the top of the tank leaving behind liquid slurry at the bottom. The biogas plants produce 100% renewable biogas which does not generate any particulate matter and it does not contain sulfur or greenhouse gases. Produced biogas from biogas plant can be utilized for electricity and heat production application. Slurry as a by-product could be used as organic manure for plants. Depending on the amount of raw material availability and investment, the biogas plant unit size can be either at a small or a large scale.
On the basis of type, the fixed-dome plant segment held significant share in terms of revenue and is expected to grow at the CAGR of 4.6% from 2023 to 2032. There is an increase in the adoption of fixed-dome plant in the global biogas plant market as system is affordable, simple to install, and contribute toward energy production with no environmental impact. The fixed-dome plant has large gasholder which increases its demand in the biogas plant market.
On the basis of size, the large size biogas plant segment held dominant share in terms of revenue and is expected to grow at a CAGR of 4.1% from 2023 to 2032. Large size biogas plants are eco-friendly in nature, and inexpensive. The large size biogas plant has high efficiency for converting and storage of biogas due to which government is investing in new large biogas plant projects globally.
On the basis of application, the electricity generation segment held dominant share in terms of revenue and is expected to grow at a CAGR of 4.5% from 2023 to 2032. There is an increase in the demand for green energy sources for production of electricity. Several types of gases are produced in the biogas plant which can be utilized for the production of electricity without impacting the environment. On the basis of industry vertical, the energy and power segment held dominant share in terms of revenue and is expected to grow at a CAGR of 4.5% from 2023 to 2032. The power sector is inclined toward the production of electricity from renewable energy sources which increases the demand for biogas in the energy and power industries.
