Global biogas market expected to hit $33-billion by 2022
by Canadian Manufacturing Daily Staff
Worldwide production capacity is now more than 800-billion cubic feet annually, equivalent to almost 14.5-gigawatts
Boulder, Colo.—After posting $17.3-billion in global revenue in 2011, a new report indicates the biogas market is expected to nearly double by 2022.
According to a report from Pike Research, global revenue in the market is expected to spike to $33.1-billion by 2022.
Despite remaining a relatively small market within the bioenergy sector as a whole, biogas is seeing a number of elements that are driving the market forward rapidly, including tighter environmental regulations, increasing demand for distributed generation, accelerated build-out of natural gas infrastructure and demand for natural gas-powered vehicles, according to Pike Research.
Global installed production capacity is now more than 800-billion cubic feet annually, according to the firm, equivalent to almost 14.5-gigawatts (GW) of renewable generation capacity.
With an additional three-billion cubic feet per year production expected by the end of 2012—bringing the annual total to 11-billion cubic feet—renewable natural gas is a growing segment of the biogas market.
Biogas is a byproduct of anaerobic digestion, a process in which microorganisms break down organic matter in an oxygen-starved environment.