The global biogas market size was valued at USD 24.03 billion in 2020 and is projected to reach USD 37.02 billion by 2028. The global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period 2021-2028.

Pune, India, Nov. 30, 2023 (GLOBE NEWSWIRE) — The global biogas market size was valued at USD 24.03 billion in 2020 and is projected to reach USD 37.02 billion by 2028. The global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period 2021-2028. This vital information is presented by Fortune Business Insights™, in its report titled, “Biogas Market, 2021-2028.” The market is set to gain traction from rising global focus on clean energy alternatives, increasing adoption of circular economy principles, and advancements in anaerobic digestion technologies. Government incentives, expanding applications in diverse sectors, and heightened environmental awareness contribute to the market’s momentum and widespread acceptance as a sustainable energy source.

Biogas is a renewable fuel obtained from raw materials such as inexperienced waste, agricultural waste, sewage, municipal waste, manure, and others. It is burnt in the presence of oxygen and is utilized for heating, transportation, cooking, electricity generation, and others. Furthermore, robust investments in renewable energy are expected to boost product demand, thereby fostering industry development. Additionally, the rising demand for eco-friendly fuels is expected to bolster market development. These factors may propel industry growth during the upcoming years.

Industry Developments:

March 2021: FortisBC Energy and Metro Vancouver entered a collaboration to achieve British Columbia’s action goals (BC). The company launched its new facility at a wastewater treatment plant (WWTP) in the region.

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