Largest driver in today's industrial biogas sector is the combination of government policies, incentives, and funding programs
BOULDER, Colo., Oct. 31, 2024 /PRNewswire/ -- A new report from Guidehouse Insights examines the global biogas market for industrial buildings and applications.
Biogas holds significant promise for helping to decarbonize industrial activities that are difficult to conduct without fuel combustion, though substantial barriers have thus far limited market development. According to a new report from Guidehouse Insights, the market for industrial biogas is expected to accelerate significantly over the next decade as decarbonization policies, carbon pricing regulations, border carbon adjustments, and other measures to address carbon pollution exert economic pressure on fossil fuels. Guidehouse Insights expects annual demand for industrial biogas is expected to grow from 666.9 billion cubic feet (BCF) in 2024 to 2,042.4 BCF by 2033, representing a compound annual growth rate (CAGR) of 13.2%.
"Of the biogas generated globally for use in industrial applications today, roughly two-thirds is converted into renewable natural gas (RNG) for use in any application that would normally use fossil gas. The balance of industrial biogas is used for power generation, process heating, or cogeneration, typically onsite where it was generated," says Grant Samms, research analyst with Guidehouse Insights. "Municipal facilities, such as landfills and wastewater treatment sites, and agricultural operations are the largest generators of industrial biogas, though the prominence of each source varies significantly by geographic region."
By far, the largest driver in the industrial biogas space today is government policy, including financial incentives for biogas development and regulation on emissions levels. Other drivers include an abundance of suitable feedstock in certain regions and corporations' internal decarbonization goals. However, the industrial biogas market is also facing significant headwinds, the most prominent being that in many places, biogas and RNG can be 4 to 6 times more expensive than fossil gas. Other barriers include the significant added cost of upgrading biogas to RNG, and policy silos that only provide incentives for generating biogas for specific applications, according to the report.
The report, Biogas for Industrial Buildings and Applications, examines the global market for biogas in industrial buildings. It analyzes current market issues, technology trends, drivers, barriers, and the policy landscape. Market analyses are presented for revenue and unit sales. Analyses, which extend through 2033, are segmented by technology, value chain position, and region. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at .
About Guidehouse
Guidehouse is a global consultancy providing advisory, digital, and managed services to the commercial and public sectors. Guidehouse is purpose-built to serve the national security, financial services, healthcare, energy, and infrastructure industries. Disrupting legacy consulting delivery models with its agility, capabilities, and scale, the firm delivers technology-enabled and focused solutions that position clients for innovation, resilience, and growth. With high-quality standards and a relentless pursuit of client success, Guidehouse's more than 17,000 employees collaborate with leaders to outwit complexity and achieve transformational changes that meaningfully shape the future. guidehouse.com
* The information contained in this press release concerning the report, Biogas for Industrial Buildings and Applications, is a summary and reflects the current expectations of Guidehouse Insights 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 Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]
SOURCE Guidehouse Insights
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