The global renewable natural gas market is estimated to be valued at USD 14.03 Bn in 2024 and is expected to reach USD 24.23 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 14.03 Bn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: |
8.10% |
2031 Value Projection: |
US$ 24.23 Bn |
Figure. Renewable Natural Gas Market Share (%), By Region, 2024
The global renewable natural gas market has been witnessing significant growth in recent years. Renewable natural gas (RNG) or biogas is natural gas that is derived from biodegradable material such as food waste, agricultural residue, human waste, or animal manure through anaerobic digestion. It is a renewable form of energy that can be used as compressed natural gas or injected directly into natural gas pipelines. The increasing demand for cleaner sources of energy along with stringent government policies regarding reduction of greenhouse gas emissions is a key factor driving the adoption of renewable natural gas across industries. Furthermore, awareness about the long term economic and environmental benefits of RNG is encouraging more companies and utilities to invest in RNG infrastructure and supply. With governments around the world strengthening their renewable energy targets, the global renewable natural gas market is expected to grow substantially over the coming years.
Market Dynamics:
The global renewable natural gas market is expected to experience strong growth over the forecast period, primarily driven by growing climate change concerns worldwide and the urgent need to develop renewable alternatives to fossil fuels. Stringent regulations regarding GHG emissions from industries and initiatives like the EU methane strategy are also pushing market adoption. In addition, rising emphasis on circular economy and waste management is boosting biogas production from organic waste. However, high infrastructure and production costs remain a key challenge for market participants. Moreover, availability of cheaper alternatives continues to restrain market growth to some extent. On the positive side, increasing R&D efforts to reduce costs and technological advances in anaerobic digestion are expected to create new revenue opportunities for market players. In terms of opportunity, the market sees rising usage of RNG in transportation sector as a cleaner vehicle fuel.
Key features of the study:
- This report provides in-depth analysis of the global renewable natural gas market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global renewable natural gas market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Clean Energy Fuels Corp., Biomethane Technologies, Fortistar, Waste Management, Inc., Renewable Energy Group, Inc., Duke Energy, EnviTec Biogas AG, Brightmark Energy, Aqua America, Inc., Gasrec, CNG Services Ltd., Calgren Renewable Fuels, Cypress Creek Renewables, RNG Energy Solutions, Greenlane Biogas, Sustainable Energy Solutions, Xebec Adsorption Inc., Agraferm Technologies AG, Ecovyst Inc., and Air Products and Chemicals, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global renewable natural gas market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global renewable natural gas market.
Detailed Segmentation-
- Feedstock Insights (Revenue, USD Bn, 2019 - 2031)
- Landfill
- Wastewater Treatment
- Agricultural Waste
- Others
- Application Insights (Revenue, USD Bn, 2019 - 2031)
- Vehicle Fuel
- Power Generation
- Pipeline Injection
- Others
- Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
- Supermarkets/Hypermarkets
- Online Retail
- Specialty Stores
- Pharmacies/Drugstores
- Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Clean Energy Fuels Corp.
- Biomethane Technologies
- Fortistar
- Waste Management, Inc.
- Renewable Energy Group, Inc.
- Duke Energy
- EnviTec Biogas AG
- Brightmark Energy
- Aqua America, Inc.
- Gasrec
- CNG Services Ltd.
- Calgren Renewable Fuels
- Cypress Creek Renewables
- RNG Energy Solutions
- Greenlane Biogas
- Sustainable Energy Solutions
- Xebec Adsorption Inc.
- Agraferm Technologies AG
- Ecovyst Inc.
- Air Products and Chemicals, Inc.