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Biomethane Market Size & Share to Surpass USD 8.0 billion by 2031, Garnering 7.1% CAGR: TMR Report
Biomethane production from agricultural residues, like crop residues and manure, presents an opportunity. Advanced technologies are enabling the conversion of these waste materials into valuable biomethane, aligning with circular economy principles.
The aviation industry is exploring biomethane as a sustainable aviation fuel (SAF). Biomethane-based SAFs offer a low-carbon alternative to traditional jet fuels, with a potential market in reducing aviation's environmental footprint.
Biomethane production and upgrading technologies are being deployed in remote areas, offering access to clean energy for regions that were traditionally off the grid. Biomethane can be a feedstock for hydrogen production, an emerging green energy source. This dual application provides flexibility and promotes integration with hydrogen-based energy systems. Integration of biomethane production with other circular economy initiatives, such as waste-to-energy and nutrient recovery, is creating holistic, sustainable solutions.
The global biomethane market features a competitive landscape with established industry leaders and innovative entrants. Key players include companies like Gazprom, Wärtsilä, and EnviTec Biogas AG, known for their extensive experience in biomethane production. These firms continue to expand their reach through strategic partnerships and investments in cutting-edge technology.
Emerging players such as Greenlane Biogas and Bright Biomethane are making strides with specialized biomethane production solutions. Their focus on efficient processes and environmental sustainability highlights the market's evolving dynamics.
As the global energy landscape leans towards renewables and sustainable practices, this competitive environment encourages constant innovation and the development of cost-effective and environmentally responsible biomethane production solutions. The following companies are well-known participants in the global biomethane market:
The global medium voltage motors market size stood at US$ 4.2 Bn in 2022; It is projected to increase at a CAGR of 4.1% from 2023 to 2031 and reach US$ 5.9 Bn by the end of 2031
- The global industry was valued at US$ 17.6 Bn in 2022; It is estimated to grow at a CAGR of 3.8% from 2023 to 2031 and reach US$ 24.9 Bn by the end of 2031
- The global industry was valued at US$ 2.6 Bn in 2022; It is projected to expand at a CAGR of 6.0% from 2023 to 2031 and reach US$ 4.3 Bn by the end of 2031
- The global industry was valued at US$ 1.8 Bn in 2022; It is projected to advance at a CAGR of 15.9% from 2023 to 2031 and reach US$ 6.5 Bn by the end of 2031
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