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Report Overview: Biogas MarketThe global biogas market size was valued at USD 44.0 billion in 2020 and is anticipated to expand at a CAGR of 3.37% over the forecast period 2021-2027. The market is driven by increasing greenhouse gas emissions and their destructive impact on the environment. Various governing bodies across the world are investing heavily in the manufacturing of renewable energy sources to curb carbon emissions and to ensure a stable and secure energy supply. Increasing awareness about the precarious effect of Greenhouse Gas (GHG) emissions into the environment is supposed to help in the growing installation of biomass producing plants around the world. The production of biofuel aids in eliminating the problem of dumpsites and landfills, which is expected to provide an optimistic impact on the demand for biogas. The production of biogas as fuel is anticipated to eliminate various environmental issues related to waste as all the organic materials are incorporated and its ability to be used as a form of biomass for further production. Specific government initiatives, for instance, Co-generation and Biomass Power Programme mentioned by the Ministry of New & Renewable Energy India, are likely to attract noteworthy investment in this market. The industry integrates substantial prospects for future development as the market is intended to transpire as a substitute for conventional fuels, which includes diesel and petrol. In addition to a renewable source of energy, the presence of carbon is less in biofuel. It emits fewer greenhouse gases, which is expected to generate the demand for biogas as a substitute for conventional fuels. Increase in demand for biogas across farmers and various industrial and municipalities, a process to achieve the need for the rising request to use biogas as a fuel, which is expected to strengthen the requirement of biogas plants upcoming years. However, the growth of the biogas market is ascribed to mitigate greenhouse gases. Also, a decrease in the crude oil reserves coupled with disturbances due to crude oil prices is expected to fuel the market growth. Additionally, the growing alertness among the ever-increasing population concerning environmental is projected to have an encouraging influence on the market growth.
Source Insights: Biogas MarketOn the basis of source, the market is segmented into agricultural, municipal, and industrial. Growing demand among agricultural, industrial, and municipal for waste treatment techniques is one of the significant factors that is driving the market growth. The implementation of biogas as a source of renewable energy in various developing and developed countries is another factor estimated to support the growth. The industrial segment is expected to lead the overall global share over the estimated period at a CAGR of 4.07%. Likewise, materials used in biomass are unexplored, which suggests a significant opportunity for the future development of this technology. Agricultural producing countries, such as Indonesia and India, are supposed to integrate with considerable chances for industries development as the execution of biogas manufacture and application of biofuel is projected to provide additional sources of revenue for the farmers across the world. For instance, there are some cogeneration plants that are using agricultural residues like Bagasse in India, Mauritius, Kenya, and Ethiopia are successful.
Application Insights: Biogas MarketBy application, the market is categorized into vehicle fuel, heat generation, electricity generation, and others. The electricity generation segment is estimated to lead the complete global share over the estimated period as various countries are moving towards gas-based powerplants from coal-based powerplants due to an increase in carbon emission. Thus, it is expected the demand for gas sourced power plants will drive the market. Demand for advanced biofuel is supposed to increase in the upcoming years owed to the lower cost of fuel and defiance with strict vehicle emission regulations. The vehicle fuel segment is on second-highest demand as the world id shifting towards the usage of gas as a fuel in the transportation sector, wherein Compressed Natural Gas (CNG) is used as a substitute for Compressed Biogas (CBG). The generation of electricity using biogas is a very efficient method for generating electricity than other sources of renewable sources of energy. Though, it is applicable only if the evolving heat from the power generator can be used ecologically and, economically way. However, the electricity contribution from nations other than the Organisation for Economic Co-operation and Development which includes Brazil, India, China, and Russia with China having the highest share of power consumption in these nations. Besides, the location of such plants is expected to influence the market growth adversely, in the future. An enormous part of plants exists in distant locations, thus making it tough to consume maximum electrical generation in the locations with higher demand. Correspondingly, the renewable source of energy is comparatively uneven and disposed to explosions, for example, methane (CH4) produces a chemically unsteady compound on reaction with oxygen.
Regional Insights: Biogas MarketEurope is projected to appear as a predominant region over the estimated period. Various countries, such as Austria, Denmark, and Germany, have a resilient legal structure for renewable sources of energy. Economic efficiency for the biomass plant is integral for the long-term growth of the industry. Asia Pacific is anticipated to witness significant growth over the next seven years, owing to the high rate of farming production in the developing economies, which includes India, Indonesia, and Thailand. The region, such as North America, is assumed to grow at a substantial rate over the estimated period owed to increasing adoption of a substitute and renewable source of energy. The Department Of Energy (DOE) and, U.S. Department of Agriculture (USDA) have detailed guidelines that can enhance the usage of biogas, which will also address the goals of U.S. renewable energy. The local government functions on programs and also provides financial incentives to boost investments in biomass systems.
Biogas Market Share Insights: Biogas Market
The key players in the market include
The increasing use of biogas as a transportation fuel in the increase in the number of countries, coupled with the biogas based power plants is estimated to fuel the market growth. However, the market progress can be blocked due to high set up costs and primary investment. In April 2016, EnviTec Service signed an agreement with Energielenker GmbH to partner in its proprietary solutions for renewable and decentralized energy supplies, and power generating plants active throughout Germany. This report forecasts revenue growth at global, regional, and country, levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this report, Trusted Business Insights has segmented the global biogas market report on the basis of source, application, and region:
- PlanET Biogas Global GmbH
- Scandinavian Biogas
- Swedish Biogas International
- Biofrigas Sweden AB
- CH4 Biogas
- Ameresco, Inc.
- EnviTec Biogas AG
- IES BIOGAS srl
- Air Liquide
- SP Renewable Energy Sources Pvt. Ltd.
- Beijing Sanyi Green Energy Development Co., Ltd.
- Biofuel USA Corporation
- Agrinz Technologies GmbH.
Source Outlook (Revenue, USD Billion, 2016 - 2027)
Application Outlook (Revenue, USD Billion, 2016 - 2027)
- Vehicle Fuel
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.2 Information Procurement 1.2.1 Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.2.2 GVR Internal Database 1.2.3 Secondary Source & Third-Party Perspectives 1.2.4 Primary Research 1.3 Information Analysis 1.3.1 Data analysis models 1.4 Market Formulation & Data Visualization 1.5 Data Validatio | read more...