Biogas Industry Anticipated To Accelerate The Growth By 2030

Biogas Industry Overview

The global biogas market size was estimated at USD 65.53 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2030.

The industry is expected to witness growth due to increasing product demand from various application segments, including heat, electricity, upgraded biogas, vehicle fuel, and cooking gas. Moreover, a shift in focus toward the use of renewable energy, particularly in the electric power sector, has significantly driven biogas demand in electricity applications. Also, the rising need to reduce dependency on fossil fuels is creating lucrative opportunities for biogas in vehicle fuel applications.

Gather more insights about the market drivers, restrains and growth of the Biogas Market

The U.S. emerged as one of the largest markets for biogas in North America in 2023 and is anticipated to expand at a substantial CAGR, based on revenue, over the projection period. The country's government has introduced a number of regulations to reduce its dependency on conventional fuels and meet its zero carbon emissions target. Significant factors that influence market growth such as favorable regulatory political support, environmental support, and customer support, geopolitical support, agricultural and economic support.

Biogas demand in North America is primarily driven by the U.S. Growing demand in applications, such as cooking gas, electricity, vehicle fuel, heat, and others, is expected to have a positive impact on industry growth over the forecast period. Major factors supporting the regional market include high demand for green fuels, stringent environmental regulations, and increased investment for the development of refineries.

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