Biomethane Market to Reach $5.5 Billion, Globally, by 2032 at 5.7% CAGR: Allied Market Research
PORTLAND, Ore., Aug. 22, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Biomethane Market by Feedstock (Organic Household, Animal Manure, Energy Crops, Agricultural Waste, Sewage Sludge, and Industrial Food Processing Waste), Production Method (Anaerobic Digestion, Gasification, and Fermentation) and by Application (Power Generation, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global biomethane industry generated $3.1 billion in 2022 and is estimated to reach $5.5 billion by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.
- Depending on the feedstock, the energy crops segment held the highest market share in 2022, accounting for more than one-third of the global biomethane market.
- This is attributed to their high energy content, which allows for efficient conversion into biomethane.
- Depending on the application, the automotive segment held the highest market share in 2022, accounting for around two-thirds of the global biomethane market.
- India has been investing in biomethane production from various organic waste sources, including agricultural residues, animal manure, and food waste.