Growth in population and rise in landfill levels present numerous opportunities for market expansion. Moreover, surge in demand for renewable sources of energy globally, increase in investment by governments, and usage of other renewable energy sources as substitutes to reduce carbon content are further anticipated to boost the overall growth of the market. Increase in awareness of waste management methods among peasants, towns, and industrial workplaces is a crucial driver of the global waste-derived biogas market. The shift from conventional and non-renewable energy sources to biogas, which is a renewable source of energy, is likely to promote the growth of the market in developed and developing nations.
Global waste-derived biogas market generated $52.9 billion in 2020, and is projected to reach $126.2 billion by 2030, witnessing a CAGR of 8.5% from 2021 to 2030. Low-cost substitutes to conventional sources and high number of investments toward renewable sources of fuel and energy drive the growth of the global waste-derived biogas market. However, high preliminary investments for setting up the plants restrains the market to some extent. On the other hand, waste-derived economy presents new opportunities in the upcoming years.
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The report offers detailed segmentation of the global waste-derived biogas market based on source, application, and region.
Based on source, the crop residues segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the sewage segment is estimated to register the highest CAGR of 10.0% from 2021 to 2030.
Based on application, the industrial segment held the largest market share in 2020, holding nearly three-fifths of the global waste-derived biogas market, and is expected to continue its leadership status during the forecast period. However, the commercial segment is projected to register the highest CAGR of 9.7% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Europe is projected to manifest the fastest CAGR of 9.4% during the forecast period.
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Leading players of the global waste-derived biogas market analyzed in the research include
- AAT Abwasser- und Abfalltechnik GmbH
- Bekon Biogas Energy Inc.
- Biogen Greenfinch
- Cargill Inc.
- Clarke Energy
- Environmental Products & Technology Corp.
- N-bio GmbH
- Siemens AG
- WELTEC BIOPOWER GMBH
- Zorg Biogas
COVID-19 scenario:
- The worldwide lockdown has suspended municipal electricity production, on-site electricity production, and transportation fuel activities, which declined the demand for waste-derived biogas.
- Manufacturing of oil & gas and other products across the globe was halted, due to unavailability of raw materials and dearth of labor, which hampered the waste-derived biogas market growth.
- Moreover, increase in the demand-supply gap, price volatility, and government policies such as increased emphasis toward bio-based products and incorporating green initiatives are expected to affect the growth of various end-use industries. In terms of its immediate and long-term effect on industry and consumers, the COVID-19 pandemic has outpaced any headwind ever encountered.
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