RNG offers an immediate decarbonization solution to a wide
range of industries
BOULDER, Colo.,
Aug. 13,
2024 /PRNewswire/ -- A new report from
Guidehouse Insights analyzes renewable natural gas (RNG)
production capacity additions and equipment sales globally.
RNG, also known as biomethane, is produced by removing the
impurities from biogas, which is released during the decomposition
of organic matter such as animal or food waste. Once the biogas is
upgraded to make a stream of pipeline quality methane, it becomes
RNG, which is completely interchangeable with conventional fossil
natural gas. According to a new report from Guidehouse Insights,
global RNG capacity is expected to nearly triple between 2024 and
2033, climbing at a compound annual growth rate (CAGR) of 12.8% to
exceed 1,000 billion cubic feet (Bcf) by the end of 2033.
"RNG offers an immediate decarbonization solution to a wide
range of industries," says Peter
Marrin, principal research analyst with Guidehouse Insights.
"As a drop-in fuel, RNG is compatible with existing gas
infrastructure, including pipelines, storage caverns, gas turbines,
and home appliances. Renewable gas is especially well suited for
hard-to-abate sectors, where few other decarbonization options
exist."
While many developing countries will continue to use biogas for
cooking and heating, Europe and
North America were early movers on
crafting legislation to help incentivize the use of renewable fuels
such as RNG. Market demand today largely reflects those policies.
In addition to high production costs, the scalability of feedstocks
is a primary concern about the development of the RNG market.
Producers need a steady long-term supply of feedstock, which can be
a challenge considering the cyclical nature of some agriculture
activities. In addition, competition over feedstocks will increase
as new demand and RNG suppliers emerge, according to the
report.
The report, Renewable Natural Gas, provides analyses for
RNG production capacity additions and equipment sales revenues from
2024-2033. Projections are based on an analysis of planned RNG
production capacity and primary research that includes phone and
in-person interviews with industry leaders. Analyses have been
segmented by global region, production pathways, and end-use
application. An executive summary of the report is available for
free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the
dedicated market intelligence arm of Guidehouse, provides research,
data, and benchmarking services for today's rapidly changing and
highly regulated industries. Our insights are built on in-depth
analysis of global clean technology markets. The team's research
methodology combines supply-side industry analysis, end-user
primary research, and demand assessment, paired with a deep
examination of technology trends, to provide a comprehensive view
of emerging resilient infrastructure systems. Additional
information about Guidehouse Insights can be found at
www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global
provider of consulting services to the public sector and commercial
markets, with broad capabilities in management, technology, and
risk consulting. By combining our public and private sector
expertise, we help clients address their most complex challenges
and navigate significant regulatory pressures focusing on
transformational change, business resiliency, and technology-driven
innovation. Across a range of advisory, consulting, outsourcing,
and digital services, we create scalable, innovative solutions that
help our clients outwit complexity and position them for future
growth and success. The company has more than 16,000 professionals
in over 55 locations globally. Guidehouse is led by seasoned
professionals with proven and diverse expertise in traditional and
emerging technologies, markets, and agenda-setting issues driving
national and global economies. For more information, please visit
www.guidehouse.com.
* The information contained in this press release concerning
the report, Renewable Natural Gas, is a
summary and reflects the current expectations of Guidehouse
Insights based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press
release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report's
conclusions and the methodologies used to create the report.
Neither Guidehouse Insights nor Guidehouse undertakes any
obligation to update any of the information contained in this press
release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
cfradkin@scprgroup.com
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SOURCE Guidehouse Insights