South Korea Biogas Market Size & Outlook, 2023-2030
South Korea biogas market, 2018-2030 (US$M)
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South Korea biogas market highlights
- The South Korea biogas market generated a revenue of USD 3,166.8 million in 2023 and is expected to reach USD 3,930.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.1% from 2024 to 2030.
- In terms of segment, municipal was the largest revenue generating source in 2023.
- Agriculture is the most lucrative source segment registering the fastest growth during the forecast period.
Biogas market data book summary
| Market revenue in 2023 | USD 3,166.8 million |
| Market revenue in 2030 | USD 3,930.7 million |
| Growth rate | 3.1% (CAGR from 2023 to 2030) |
| Largest segment | Municipal |
| Fastest growing segment | Agriculture |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Municipal, Industrial, Agriculture |
| Key market players worldwide | Viessmann, Air Liquide SA, Homebiogas, Xebec Adsorption, DMT Clear Gas Solutions, PlanET-Biogas, Biokraft International, TotalEnergies SE |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.8% of the global biogas market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biogas market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 8,138.3 million by 2030.
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Biogas Market Scope
Biogas Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea biogas market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biogas market will help companies and investors design strategic landscapes.
Municipal was the largest segment with a revenue share of 56% in 2023. Horizon Databook has segmented the South Korea biogas market based on municipal, industrial, agriculture covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea had the worst air quality among the 35 OECD developed nations in 2017. This encouraged the government to introduce a number of green growth programs, which, in turn, paved the way for the structural growth of the economy and numerous green technologies for different sectors.
The government has been making efforts to achieve autonomy in the electricity sector and subsequently surge the share of renewable energy sources. In July 2020, the government announced a Green New Deal to achieve net-zero carbon emission by 2050.
Various market players have started escalating their business to cater to the rise in demand for biogas. For instance, in 2020, WELTEC BIOPOWER GMBH began the construction of a biogas plant in the province of Gyeonggi-do, South Korea.
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Our clientele includes a mix of biogas market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea biogas market , including forecasts for subscribers. This country databook contains high-level insights into South Korea biogas market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea biogas market size, by source, 2018-2030 (US$M)
South Korea Biogas Market Outlook Share, 2023 & 2030 (US$M)
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