What's Happening?
The global biogas market is projected to grow from $74.37 billion in 2024 to $106.03 billion by 2033, driven by the demand for renewable energy and effective waste management solutions. Biogas, produced through anaerobic fermentation of organic matter,
offers a sustainable alternative to fossil fuels. It supports a circular economy by converting waste into energy and organic fertilizer. The market is bolstered by government policies, technological advancements, and the need for energy security.
Why It's Important?
Biogas plays a critical role in reducing greenhouse gas emissions and supporting energy transition goals. Its ability to provide a renewable energy source and manage waste effectively makes it a key component in achieving sustainability targets. The market's growth reflects increasing global commitment to renewable energy and environmental conservation.
What's Next?
The biogas industry is expected to see further investment and innovation, particularly in biogas upgrading technologies. Governments may continue to implement supportive policies to encourage biogas production. The expansion of biogas applications in transportation and grid integration could enhance its commercial viability.