Since the early 2000s, the global biogas market has made tremendous strides in development, with successful applications in areas such as electricity generation, heating, and even in transport when upgraded to the quality of traditional natural gas. This market is expected to continue to grow with a large and relatively established market in Europe and a rapidly growing market in Asia Pacific. Click to tweet: According to a new @NavigantRSRCH report, the global annual market value of biogas is expected to reach $20.9 billion by 2028.
“The biogas market largely developed out of strong policy support and incentives that made projects economically viable along with regulations mandating certain levels of adoption,” says Shayne Willette, research analyst with Navigant Research. “As decarbonization and sustainability continue to be pressing issues for the global economy, biogas and renewable natural gas (RNG) offer solutions that are vital to these efforts.”
According to the report, transportation mandates such as the US Renewable Fuel Standard and California Low Carbon Fuel Standard have been instrumental in the RNG market, which represents only a fraction of the overall biogas market. The biggest threat to the biogas market is the possibility of discontinuation of policies and incentives that originally brought market growth.
The report, Renewable Natural Gas, projects global biogas production and revenue regionally and by feedstock, segmented into waste, industrial, agriculture, and wastewater. Additionally, the study provides an analysis of key market developments in the industry such as policies and incentives and utility moves within the space. Global market forecasts for production and revenue, segmented by region and feedstock extend through 2028. An executive summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Guidehouse, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
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* The information contained in this press release concerning the report, Renewable Natural Gas, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.