NOTE: It is unlikely that the expected growth in this industry will meet expert predictions since none of these predictions took the Covid-19 pandemic into account. It is unclear how this market may be affected by the pandemic, as well as the current presidential administration’s push away from renewable energy.
Global Biogas Market
- Market estimates for the Global Biogas Market range from the low 20 billions to the mid-50 billions. The electricity segment equates to somewhere between a quarter and one half of the total market.
- Grand View Research estimated the 2019 Global Biogas Market to be worth $55.1 B, with an expected CAGR of 4.48% through 2027. This market includes various application segments, like “vehicle fuel, heat generation, electricity generation, and others,” and is not restricted to just biogas-based electricity.
- In a chart breaking down the overall market segments, it appears that about a quarter of the market consists of biogas-based electricity. Roughly estimating, that segment would be valued somewhere around $14 B globally in 2019, though this is only based on one market estimate and should not be considered definitive.
- Notably, Fortune Business Insights tells a different market story, stating that the Global Biogas Market was valued at $21 B in 2018 and was only expected to reach $30 B by 2026 (seeing a CAGR of 4.65%). So, although the CAGR is very similar, the estimates of this market vary significantly.
- Additionally in contrast, Fortune noted that globally in 2018, electricity made up the largest segment of all applications at 54% of the market.
US Biogas Market
- The majority of reports and research conducted on this market are part of larger global reports, most of which are behind paywalls and do not publicly offer any specific information on the US. The particular percentage of the global market cannot be located, though it might be possible (with continued searching) to provide a rough estimate.
California & WECC Region
- It appears that some information is available on California’s Biogas Market, as well as the WECC region’s market, though more research needs to be conducted to determine what is available related to market sizes in those areas.
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US Biomass Market
- According to IbisWorld, The US Biomass Power Industry (similar industry to what was requested; notable enough to mention) was valued at $908 M. There were about 122 businesses in the market with around 1400 employees. Between 2014 and 2019, the industry saw only 0.8% growth.
- IbisWorld experts note that growth is expected to increase (though not exponentially) through 2024. Gains will be seen due to increased encouragement of biomass power (through federal tax credits and state energy portfolios), as well as increased focus on biomass energy technologies and market competition.