Biomethane Market Size, Industry Trends, Historical Data, Growth Analysis Forecast to 2032
The global biomethane market size accrued earnings worth approximately USD 3.40 billion in 2023 and is predicted to gain revenue of about USD 5.60 billion by 2032, is set to record a CAGR of nearly 5.69% over the period from 2024 to 2032.
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Growth Factors in the Biomethane Market
Biomethane, a natural gas, is a renewable energy source that is produced through the anaerobic digestion of organic materials, including deceased animals and plant materials, manure, wastewater, and organic refuse. Biomethane is utilised for the same purposes as natural gas, including the generation of electricity, the heating of rooms and water, the preparation of food, and the fuelling of vehicles, due to its chemical similarity.
The global biomethane market is anticipated to experience substantial development in the coming years as a result of the global increase in automotive production. Additionally, biomethane is a valuable fuel due to its versatile properties, which include a lower corrosiveness than biogas. Furthermore, biogas is the basic material utilised in the production of biomethane, and it can be processed from a variety of feedstock sources, including vegetables and animals. Consequently, it is the most efficient and environmentally beneficial fuel for a variety of applications.
Therefore, it is anticipated that these factors will stimulate the biomethane market in the years ahead by increasing the consumption of biomethane. Nevertheless, the biomethane market may be constrained in the following years due to the fact that it is approximately 19% more expensive than natural gas. However, the biomethane market is expected to expand as a result of improvements in biomethane production technologies.
To provide the readers of this report with a thorough understanding of the biomethane market, we have included a comprehensive value chain analysis below. An analysis of Porter’s Five Forces model for the biomethane market has also been included to understand the competitive landscape within the market. An analysis of market attractiveness is included in the study, which benchmarks all segments based on their market size, growth rate, and general attractiveness.
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The Global Biomethane Market is segmented based on product, application and region
Global Biomethane Market: Product Segment Analysis
● Fermentation
● Gasification
Global Biomethane Market: Application Segment Analysis
● Power Generation
● Automotive
● Others
The Global Biomethane market profiles key players such as:
● Gazasia
● CNG Services
● Future Biogas
● Orbital
● Verbio
● Planet JV Energen Biogas Global
● Magne Gas
● Schmack Carbotech
● Gasrec
● SGN
● Biogas Products
● EnviTec Biogas
● SoCalGas
The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
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