Biogas Market Analysis, Regional Developments and Competitors

 The global biogas market was valued at USD 65.53 billion in 2023 and is projected to reach USD 87.86 billion by 2030, growing at a CAGR of 4.2% from 2024 to 2030. This growth is driven by rising product demand across various application segments, including heat, electricity, upgraded biogas, vehicle fuel, and cooking gas.

Additionally, the increasing emphasis on renewable energy, especially in the electric power sector, has significantly boosted biogas demand for electricity applications. The growing necessity to reduce reliance on fossil fuels is also creating lucrative opportunities for biogas in vehicle fuel applications.

In North America, the U.S. has emerged as one of the largest biogas markets in 2023 and is expected to experience substantial revenue growth over the forecast period. The U.S. government has implemented various regulations aimed at decreasing dependence on conventional fuels and achieving its zero carbon emissions target. Key factors influencing market growth include favorable regulatory and political support, environmental initiatives, customer demand, geopolitical factors, and agricultural and economic support.

The demand for biogas in North America is predominantly driven by the U.S. The increasing need for applications such as cooking gas, electricity, vehicle fuel, and heat is projected to positively impact industry growth throughout the forecast period. Major factors supporting the regional market include a high demand for green fuels, stringent environmental regulations, and increased investment in refinery development.

Key Market Trends & Insights

• Europe was the leading regional segment, capturing approximately 41% of the revenue share in 2023. The growth of the European biogas sector is fueled by technological advancements and increased investments in the refinery industry. Companies across Europe are committing substantial capital to research and develop biogas production from existing sources, with plans to expand their feedstock share in the coming years.

• The growth of Italy's biogas market is largely driven by government initiatives aimed at decarbonization. For example, in March 2021, Eni SpA (BIT: ENI) announced its intention to acquire an Italian biogas company from FRI-EL Greenpower, a holding of the Gostner family, through its circular economy subsidiary, Ecofuel. This acquisition is still pending approval from the relevant antitrust authorities.

• In terms of application, the electricity segment led the market, accounting for around 30% of the revenue share in 2023. The growing emphasis on renewable energy, particularly in the electric power sector, has significantly boosted the use of biogas for electricity generation.

• By source, municipal sources represented the largest revenue share at 41.35% in 2023. The increasing utilization of municipal solid waste (MSW) for biogas production, aimed at reducing landfill usage and greenhouse gas emissions, is anticipated to drive market demand throughout the forecast period.

 

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Market Size & Forecast

• 2023 Market Size: USD 65.53 Billion
• 2030 Projected Market Size: USD 87.86 Billion
• CAGR (2024-2030): 4.2%
• Europe: Largest market in 2023

 

Key Companies & Market Share Insights

• Biogas industry is highly competitive due to the global presence of major companies. Key biogas solutions & service providers include Air Liquide, PlanET Biogas, Wartsila, EnviTech Biogas AG, Robert Bosch GmbH, Asia Biogas, and Schmack Biogas GmbH. Air Liquide, PlanET Biogas, Wartsila, and EnviTech Biogas AG are full-scale manufacturers and leaders in terms of investment in R&D.
  
  
• Spanish companies are taking active steps to drive the adoption of biogas in the country. For instance, Repsol, a Spanish fuel company, in June 2020, announced the development of an industrial-scale biogas project.

 

Key Players

• Agrinz Technologies GmbH
• Air Liquide
• DMT International
• Gasum Oy
• HomeBiogas Inc.
• PlanET Biogas
• Scandinavian Biogas Fuels International AB
• Schmack Biogas Service
• Total
• Xebec Adsorption Inc.

 

Conclusion

The biogas market is positioned for significant growth as it adapts to the rising demand for renewable energy solutions. The U.S. leads the charge in North America, driven by regulatory support and a move towards sustainable energy practices. As various applications expand, the biogas industry is set to play a crucial role in reducing fossil fuel dependency and contributing to a greener future.

 

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Battery Recycling Market: Legislative Changes and Their Effects on Industry

 The global battery recycling market size was estimated at USD 1.83 billion in 2023 and is projected to reach USD 17.08 billion by 2030, growing at a CAGR of 37.6% from 2024 to 2030. The industry is expected to grow rapidly during the forecast period owing to increasing popularity of electric vehicles (EVs) and renewable energy storage systems leading to a higher demand for batteries, and, in turn, driving the need for recycling. Governments globally are implementing regulations to promote the recycling of batteries and reduce environmental impact, which is expected to boost industry growth.

 

The U.S. emerged as the largest market in North America in 2023. Increasing sales of EVs in the U.S. owing to the formulation of supportive federal policies, such as the Responsible Battery Recycling Act of 2022 California, and presence of leading industry players are expected to drive demand for batteries in the country over the forecast period. Responsible Battery Recycling Act of 2022 California instructs each battery retailer in the state to have a system for collection of used rechargeable batteries for recycling and reusing purposes.

 

The U.S. has emerged as a growing market for the recycling of li-ion batteries owing to the presence of large-scale li-ion recycling facilities in the country. For instance, Li-cycle Corp. inaugurated its new li-ion recycling facility with 120,000 square feet of warehousing space. This facility can process 10,000 tons of battery material for electric vehicles annually. The company possesses the capacity to recycle 60,000 electric vehicle batteries.

Key Market Trends & Insights

 

• Asia Pacific is expected to account for the largest revenue share of over 40.0% in 2023. Asia Pacific is also expected to register the fastest CAGR over the forecast period. Countries, such as China, India, Australia, and Japan, are expected to witness high growth rates owing to rising demand from growing end-use industries, such as automotive, consumer electronics, and industrial.
• North America occupied a significant revenue share in 2023, with the U.S. being a major contributor to industry growth. A surge in usage of li-ion batteries in smartphones to extend their shelf life and enhance their efficiency is expected to drive growth of the market in North America in the coming years.
• Based on chemistry, the lead-acid segment dominated the market for a revenue share of more than 84.0% in 2023.Lead-acid batteries are suitable for recycling compared to other batteries owing to an extensive usage of reusable lead and plastics for manufacturing. Battery recycling companies collect used batteries from consumers for recycling and reusing purposes. Used batteries are first broken into pieces. Plastics are sent for recycling into a plastic recycler and then given shape by process of extrusion.
• Based on application, the transportation segment dominated the market for the largest revenue share of more than 73.0% in 2023.Lithium-ion, lead-acid, and nickel metal hydride batteries are extensively used in the transportation industry. Various types of lead-acid batteries such as flooded and valve-regulated types are used as automotive batteries. These batteries are robust, low maintenance, cheap, corrosion-resistant, and durable. Hence, lead-acid batteries hold the largest applications among the rest of the battery chemistries available in the market.

 

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Market Size & Forecast

• 2023 Market Size: USD 1.83 Billion
• 2030 Projected Market Size: USD 17.08 Billion
• CAGR (2024-2030): 37.6%
• Asia Pacific: Largest market in 2023

 

Key Companies & Market Share Insights

Market is highly competitive and consolidated due to the presence of a large number of well-established players. Dominant trend in operations of these battery recycling companies includes collaborations, mergers & acquisitions, and expansions, which facilitate competition in the industry. 
In November 2023, Redwood Materials announced their expansion for battery recycling in line with the increasing demand for recycling of electric vehicle batteries.

 

Key Players

• Call2Recycle
• Exide Technologies
• Gravita India Ltd.
• Glencore
• Cirba Solutions
• American Battery Technology Company
• Gopher Resource
• East Penn Manufacturing Co.
• Aqua Metals

 

Conclusion

The battery recycling market is poised for significant expansion, driven by increasing battery demand from the EV sector and supportive regulatory frameworks. As environmental concerns continue to rise, the emphasis on recycling and sustainable practices will play a crucial role in shaping the industry's future. With major regions like North America and Asia Pacific leading the charge, the market is likely to see innovative solutions and technologies emerge to meet the growing challenges and opportunities in battery recycling.

 

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