Albany, NY -- (SBWIRE) -- 02/23/2019 -- Global Biomethane Market: Snapshot
The global biomethane market is on a growth trajectory mainly due to the green gas characteristic of biomethane. Biomethane is produced by the natural breakdown of organic matter, which includes agricultural waste, green waste, household waste, food industry waste, and even industrial waste. The process involves disintegration of organic material in an anaerobic environment to produce biogas, which is further purified to produce biomethane.
A significant factor fuelling growth of the biomethane market is the high potential usage of biomethane in the automotive and power generation sector. The developed countries of the world are increasingly diversifying conventional energy production practices to include renewable sources for energy needs. The recently concluded Climate Change Conference in Paris has led many countries to include more of renewables and cleaner fuels for energy production. In particular, the European countries have set targets to increase the share of renewable energy to 20% by 2020 and to increase it to 80% by 20250 in the energy mix.
A report by Transparency Market Research forecasts the global biomethane market to reach a valuation of US$2,624.5 mn by 2025 increasing from US$1,485.4 mn in 2016 at a CAGR of 6.7% between 2017 and 2025.
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Automotive Sector to Contribute Significantly to Market Growth
In terms of application, the global biomethane gas has been segmented into automotive sector and power generation in this report. Of the two, the automotive sector is expected to account for significant share of the global biomethane market. As the automotive sector is responsible for significant volume of greenhouse gas emissions, the usage of biomethane as an automotive fuel will directly benefit the environment in terms of reduced emissions. The similar properties between biomethane and natural gas allows the latter to be substituted by the former. Thus, biomethane can be injected to natural gas grids and used a fuel mix in the transportation sector.
The feedstock segments of the global biomethane market are organic household waste, animal manure, energy crops, agricultural waste, sewage sludge, industrial food processing waste, and others. Of these, agricultural waste is extensively used feedstock type in the biomethane market. Animal manure also accounts as a leading feedstock type in the biomethane market.
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CNG Services Ltd., Planet Biogas Global GmbH, VERBIO, Future Biogas Ltd., Magne Gas, Gasrec, Gazasia Ltd., Biogas Products Ltd., SGN, Schmack Carbotech GmbH, EnviTec Biogas AG, SoCalGas, ETW Enerietechnik GmbH, ORBITAL, and JV Energen are some of the leading players operating in the global biomethane market.