Biomethane Market Potential and Future Outlook

Biomethane is a renewable gas that is generated from organic waste materials such as agricultural waste, food waste, and sewage. It is produced through an anaerobic digestion method in which organic waste is decomposed to produce biogas. This biogas is then cleansed to produce biomethane, which can replace natural gas. Biomethane has gained popularity as a renewable energy source with numerous benefits, including carbon neutrality, local production, versatility, lower greenhouse gas emissions, and reduced waste. These factors are majorly contributing to the biomethane market growth.

Market Size and Growth Potential

Did you know the global biomethane market was valued at USD 2.21 billion in 2022 and is anticipated to register USD 3.88 billion at a CAGR of 5.8% throughout the forecast period?

The increased use of biomethane in the energy production and automotive industries is a prominent factor driving the market growth. For meeting this renewable energy demand, the major players are concentrating on partnerships and the development of plants. The demand for renewable natural gas as a car fuel is predicted to increase, which will lead to growth in the automotive industry. This will boost the market growth for biomethane.

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Exploring The Benefits of Biomethane

1.?????Biomethane has the lowest greenhouse gas emissions compared to alternative fuels

2.?????It can be created from woody biomass, food industry waste, and various kinds of organic waste.

3.?????It can significantly reduce nitrogen oxide (NOx) emissions when paired with low-NOx natural gas engines.

4.?????It can cut greenhouse gas emissions up to 125 percent compared to petroleum-based fuels, or anywhere between 30 and 70 percent on average.

5.?????It can be utilized in the fleet of medium- and heavy-duty natural gas trucks, such as in areas of garbage collection, public transportation, and the short-distance transportation of cargo.

Some of The Key Sources

Biomethane is created sustainably from decomposing organic materials through anaerobic digestion.

·???????wastewater treatment sludge

·???????food waste

·???????animal manures

·???????landfill gas

·???????dead trees

·???????municipal solid waste

What Are the Key Segments of Market?

The market is primarily segmented based on feedstock, application, production method, and region.

·???????By application, power generation segment is anticipated to witness the fastest growth

·???????By feedstock, organic household waste category accounted for the highest market share in 2022

·???????By production method, anaerobic digestion segment dominated the market in 2021

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Regional Overview:

Europe held largest revenue share in 2022

Europe: The key factors supporting Europe’s growth include rapid urbanization, favorable government policies, and rising investments in biogas technology.

North America: The region holds the second revenue share owing to the development of cutting-edge waste treatment methods.

Who Are the Key Players?

Some of the biomethane market key players include AB Holding Amersco Corp., Biogas Products, CNG Services, ETW Energietechnik, EnviTec Biogas, Future Biogas, Gastric Inc., Gazania, JV Energen, MagneGas Corp., ORBITAL., PlanET Biogas Global, RENERGON International, StormFisher, SoCalGas Corp., Schmack Carbotech, SGN PLC, VERBIO, and WELTEC Biopower.

Recent Development

In May 2021, BayoTech and IBMS Group announced a partnership to launch the UK's first renewable hydrogen production utilizing biomethane generated from food waste as a fuel.?The program will result in a daily production of 1,000 kg of renewable hydrogen, which will be used to refuel zero-emission vehicles in the Surrey and London regions of the United Kingdom.

Future Outlook

The future outlook for the biomethane industry is very positive. The demand for renewable energy sources is expected to continue to grow as countries seek to meet their climate change targets and reduce their dependence on fossil fuels. Also, biomethane has the potential to replace fossil fuels in many applications.