Raw Biogas Production Capacity Is Expected to Reach 2,141 Billion Cubic Feet per Year by 2024
Growth in the biogas market remains heavily dependent on policy support
A recent report from Navigant Research examines the global biogas market, including policy issues and market drivers, with forecasts for capacity and revenue, segmented by feedstock source, end use, region, and selected country, through 2024.
Widely utilized for onsite generation by industrial facilities and distributed customers, biogas offers reliable baseload power to the grid and benefits from favorable regulatory support in many national markets. Considered the cleanest renewable vehicle fuel in both the United States and the European Union, long-term growth of the biogas market will be dependent on a combination of technical improvements and an ability to develop untapped market opportunities. Click to tweet: According to a recent report from @NavigantRSRCH, annual raw biogas production capacity is expected to reach 2,141 billion cubic feet per year by 2024.
“Biogas feedstocks are available worldwide, but logistical challenges in collecting, transporting, and handling these feedstocks makes them viable in only a narrow set of circumstances,” says Roberto Rodriguez Labastida, senior research analyst with Navigant Research. “While projects using gas recovered from landfills are the cheapest source of renewable energy currently available, small-scale projects in more rural locations will need aggressive incentives to be competitive with other sources of energy.”
According to the report, biogas remains a subsidy-dependent enterprise, and high growth in the short term will be limited to regions where policy support is already in place. Breakthroughs in feedstock conversion rates and innovations in control systems will be necessary in improving the competitiveness of biogas and unlocking the potential of higher-cost resources.
The report, Market Data: Renewable Natural Gas, analyzes the global biogas market, focusing on four feedstock sources: waste, industrial, agricultural, and sewage. Policy issues and market drivers are detailed for each region. Global market forecasts for capacity and revenue, segmented by feedstock source, end use (electricity, renewable natural gas injection, and transport), region, and selected country, extend through 2024. The report also includes a discussion of key inflection points that will help shape the biogas market over the next several years. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Lorenz
* The information contained in this press release concerning the report, Market Data: 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 Navigant undertakes any obligation to update any of the information contained in this press release or the report.