Waste-Derived Biogas Market to Reach $126.2B by 2030
The global waste-derived biogas market size was valued at $52.9 billion in 2020, and is projected to reach $126.2 billion by 2030, growing at a CAGR of 8.5% from 2021 to 2030. Biogas is a type of renewable energy that can be utilized to replace fossil fuels. It is made mostly of waste materials, and produced as a result of anaerobic digestion. In the business sector, waste feedstock is the most commonly used raw material for biogas production. In addition, increase in usage of agriculture, sewage, and industrial waste as raw materials is predicted to promote the waste-derived biogas market growth throughout the projection period.
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.
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The global waste-derived biogas market analysis has been done on the basis of source, application, and region. Depending on source, the market is categorized into livestock manure, sewage, food waste, and crop residue. The crop residue segment accounted for the largest share in 2020, while the sewage segment is projected to grow at the highest CAGR of 9.9%.
The applications covered in the study include residential, commercial, and industrial. The industrial garnered the largest share in 2020, whereas the commercial segment is projected to register the highest CAGR of 9.5%.
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Europe is expected to be acquire the fastest growing region due to implementation of stringent emission norms, rise in awareness to adopt clean fuel, and increase in demand for waste-derived biogas from end-use industries.
The major companies profiled in this report 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, and Zorg Biogas.
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Impact of COVID-19 on the Global Waste-derived Biogas Market
- COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- The outbreak of COVID-19 pandemic had led to partial or complete shutdown of production facilities, which do not come under essential goods, owing to prolonged lockdown in major countries such as the U.S., China, Japan, India, and Germany. It has led to either closure or suspension of their production activities in most of the industrial units across the world.
- Many industries have been shut down due to lack of raw material availability and disruptions in the supply chain, owing to the virus outbreak. The worldwide lockdown has suspended the municipal electricity production, on-site electricity production, and transportation fuel activities, which resulted in declining demand for waste-derived biogas industry.
- Manufacture of oil & gas and other products across the globe came to a halt due to unavailability of raw materials and shortage of labor, which hampered the market growth.
- Gap in demand supply, price volatility, and change in government policy such as increased emphasis toward the bio-based products and incorporating green initiatives are expected to impact 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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