Biomethane is methane obtained from biomass. It is a gas mixture with similar properties of natural gas and is stored deep inside the ground. Biomethane is considered as a pipeline quality of renewable natural gas, due to which it can be used as a substitute or can be blended with any conventional gas. The growing awareness regarding the benefits of biomethane has encouraged several companies to enter the global biomethane market. In this blog, Transparency Market Research provide answers to some of the major questions related to the global biomethane market.
What are the key factors that are influencing the demand for biomethane across the world?
The growing awareness regarding the benefits of biomethane, especially as a substitute to conventional fuels, has encouraged several industries to make use of biomethane for several operations. In addition, governmental policies in several regions are supportive of the grid injection system and are providing infrastructural and fiscal benefits to companies who are adopting these operations. The reduced need for fossil fuels, preservation of forests, reduced emission of greenhouse gases, and minimal exploitation of natural resources are some of the major benefits of biomethane. Thus, several players are expected to use biomethane at a large scale in the coming years, driving the overall market.
Which geographical region is expected to witness the highest growth in the overall biomethane market?
The production and supply of biomethane are limited to a few regions across the globe. At present, Europe is considered as one of the largest biomethane manufacturers, with the majority of its plants located in Switzerland, Germany, and the Netherlands. The United Kingdom and Austria are the two major regions framing policies and strategies in this regard.
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Furthermore, North America holds the second position in terms of production and supply. The rising research and development activities to boost biomethane production capacities is another factor projected to augment the growth of the North America biomethane market in the near future.
What are the major challenges faced by the global biomethane market?
At present, there are no particular standards regarding the production of biomethane, which is hampering the growth of the global biomethane market. The shift from biogas to biomethane adds significantly towards the cost of the production plant and demand for high energy. These factors are also projected to curb the growth of the overall market. Moreover, if the biomethane production plants are not be situated nearby the gas distribution network then it can add to the transportation costs. This can surge the cost of the final product which is one of the major concerns for the players.
Will biomethane take the place of traditional gas in the near future?
Biomethane offers several advantages over traditional gas; however, the demand and supply gap is expected to curtail the growth of this market. Several research activities are being carried to use biomethane for transportation, which could help curtail the rapid exhaustion of fossil fuels.
According to a survey conducted by Renewable Energy Association (REA), around 84% of the population is inclined towards using biomethane and green gas in their homes. Furthermore, a California-based company, Western United Dairymen has designed a plant that will produce biomethane from dairy waste. Initiatives like these may help biomethane to take the place of traditional gas in the near future.
