Biogas Market Size to Worth Around US$ 78.8 Billion by 2030

Tokyo, April 19, 2022 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Biogas Market (By Source, By Application, By Feedstock, By Technology, By Size) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030”.

The market players are able to manufacture biogas effectively and efficiently because to technological developments and innovative technologies. Biogas is an organic and safe fuel that is used in a variety of industries. The government provides tax benefits to biogas manufacturers for the establishment of biogas manufacturing plants. In addition, numerous businesses and organizations have begun to use biogas in their factories and facilities.

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The increasing use of biogas in various industries is offering attractive chances for the global biogas market to expand and develop throughout the forecast period. Furthermore, some countries are banding together, forging collaborations, and signing agreements to reduce greenhouse gas and carbon emissions. All of these aforementioned factors are driving the growth of the global biogas market over the forecast period.

Report Highlights

• The industrial waste, municipal waste, and agricultural waste are the different sources of biogas. Due to the factors such as growing need for electricity and stringent government regulations, the municipal wastesegment held the highest share in 2020. This segment is expected to expand and develop in the coming years.
  
  
• On the basis of application, electricity segment holds the largest market share in the global biogas market. The biogas is largely utilized for the generation of electricity. There is surge in demand for biogas in the areas where the incidents of load shedding are growing.
  
  

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Regional Snapshot

North America is the largest segment for biogas market in terms of region.The U.S. is dominating the biogas market in the North America region. The factors such as existence of key market players, technological developments and adoption of innovative technologies, the favorable government regulations are all driving the growth of the biogas market in the North America region.

Europe region is the fastest growing region in the biogas market.The U.K and Germany hold the highest market share in the Europe biogas market. The rapid industrialization and urbanization, growing investments in research and development activities, and surge in demand for energy and electricity is contributing towards the growth of the biogas market in the Asia-Pacific region over the forecast period.

Market Dynamics

Drivers: Growing demand for electricity

The global demand for electricity is growing at a rapid pace. According to the International Energy Agency (IEA), since a decade, the demand for electricity has grown in industrial and commercial areas. Moreover, due to rising urbanization, the demand and need for electricity has increased over a period of time. As a result, the growing demand for electricity is driving the growth and development of the biogas market.

Restraints: High capital investments for biogas plants

The set up of biogas plants require huge land. The biogas plants also require lot of resources. Some of the resources are quite expensive in nature. The cost of machines, equipment, and materials add to the huge amount of capital investments. Additionally, the biogas plants require workers and labors for carrying out tasks in the plants. Moreover, the storage of waste requires huge place for storage. Thus, high capital investments for biogas plants are restricting the biogas market growth over the projected period.

Opportunities: Growing government initiatives

The government of developing and underdeveloped regions has started taking actions for the growth of the biogas market. The government is also taking constant efforts in order to curb the adverse effects of carbon and greenhouse gases emissions. In addition, the government of developed regions is also striving to save environment by implementing favorable guidelines and policies. As a result, the growing initiatives by government are creating lucrative opportunities for the expansion of the global biogas market.

Challenges: Lack of awareness regarding biogas

The big companies and even government of some regions are not aware about the biogas as a renewable energy. Several manufacturers and major industry players of energy are not using biogas for electricity generation. The renewable energies such as solar energy and wind energyare used tremendously for the electricity generation. Thus, lack of awareness regarding biogas is a major challenge for the growth of the global biogas market.

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Recent Developments

• BioConstruct reported in January 2022 that it had entered into a power purchase agreement with Next Kraftwerke, a Cologne based electricity trading firm. Next Kraftwerke will sell 40,000 MWh of biogas electricity in 2022 under the terms of the agreement, according to the organization. BioConstruct is in charge of supplying electricity to its clients’ facilities from its biogas plant.
• Ag-Grid Energy declared intentions to build its fourth biogas to energy facility in the U.S. in January 2022. In collaboration with Hytone Farms, Hytone Ag-Grid will build the project. Construction will commence in March on Ag-fourth Grid’s dairy digester in the northeast. The plant will generate about 4.5 million kWh of renewable electricity per year, with food waste and manure as the primary sources.

Market Segmentation

By Source

• Agricultural
  • Dairy
  • Poultry
  • Swine Farm
  • Agricultural Residue
• Industrial
  • Food Scrap
  • Wastewater
• Municipal
  • Landfill
  • Wastewater
    
    

By Application

• Vehicle Fuel
• Electricity
• Heat
• Upgraded Biogas
• Cooking Gas
  
  

By Feedstock

• Organic Residue & Wastes
• Sewage Sludge
• Energy Crops
• Others

By Size

• < 500 kW
• 500 kW – 3 MW
• 3 MW
  
  

By Technology

• With Pre-hydrolysis
• Without Pre-hydrolysis

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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