The frontrunners in the global biomethane gas market, according to
one of the reports by Transparency Market Research, are CNG Services
Ltd., Planet Biogas Global GmbH, SGN, Future Biogas Ltd., VERBIO,
Magne Gas, Gasrec, Gazasia Ltd., Biogas Products Ltd., Schmack
Carbotech GmbH, EnviTec Biogas AG, SoCalGas, ETW Energietechnik GmbH,
ORBITAL, and JV Energen.
As per estimates of a report by Transparency Market Research, the
global biomethane market stood at a valuation of US$1,485.4 mn in
2016 and is expected to reach a valuation of US$2,624.5 mn by 2025
rising at a CAGR of 6.7% between 2017 and 2025.
North America and Europe to Continue Garnerning Significant Market
Shares
The segments of the global biomethane market based upon application
are automotive sector and power generation. The automotive sector is
expected to account for a significant share in the market over the
forecast period.
The key regional segments into which the global market for biomethane
is divided in this report are North America, Europe, Latin America,
Asia Pacific, and the Middle East and Africa. In 2016, North America
and Europe held a significant share of the global biomethane market.
The trend is expected to continue over the forecast period as well.
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Feasibility of
Biomethane as an Automobile Fuel Fuels Growth
One of the key growth drivers of the global biomethane market is the
green gas characteristic of biomethane. Biomethane is produced by the
natural breakdown of organic material, which includes green waste,
agricultural waste, food industry waste, household waste, and even
industrial waste. The process of production of biomethane involves
breaking down of organic matter in an anaerobic environment to
produce biogas, which is further purified to produce biomethane. The
resultant gas can be used as a vehicle fuel or can be injected into
the main gas network to generate green energy.
The high production efficiency of biomethane production is another
significant factor that adds to the advantage of the growth of
biomethane market. This attribute makes it feasible for biomethane to
be used as an alternative fuel for electricity production and for
heat generation from combined heat and power.
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Apart from being an environmentally friendly gas with high potential
usage in the automobile sector, biomethane can be produced from the
same infrastructure setup for natural gas production. This eliminates
additional setup cost in biomethane production. This is expected to
be a key factor that will boost the production of biomethane over
other fossil fuels in various countries across the globe.
In addition, gasification of organic matter for the production of
biomethane has environmental benefits as well. This is mainly because
biomethane produced from organic matter prevents the discharge of a
large amount of methane and other harmful gases into the atmosphere.
The other advantage of production of biomethane is that it eliminates
exposure of decaying organic matter into the atmosphere. Hence,
methane and other harmful gases are prevented from being discharged
into the atmosphere.
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The production of biomethane, on the other hand, has a downside as
well. Methane as a whole, if released in the atmosphere is about 20
times more detrimental to the environment than other greenhouse gases
such as carbon dioxide.
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