Pune, India, May 07, 2021 (GLOBE NEWSWIRE) -- The global biogas market size is likely to reach USD 31.69 billion by 2027, registering a CAGR of 5.30% during the forecast period. Biogas is made from green waste, sewage, food waste, municipal waste, and agricultural waste. It has a much lower carbon footprint and can be utilized as an alternative to fossil fuels. Fortune Business Insights™ has presented this information in an upcoming report titled, “Biogas Market, 2020-2027”. The market size stood at USD 25.50 billion in 2019.
According to the report, the biogas market is gaining immense traction due to several reasons. For instance, the constantly growing worldwide population depends on fossil fuels for various purposes such as cooking, commuting, power generation, etc. Since fossil fuels are non-renewable resources are expected to exhaust due to over-consumption, the need for renewable sources of energy is expected to fuel the demand for biogas in the forthcoming years.
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COVID-19 Impact-
The global pandemic has plummeted the growth of several industries and markets, including the biogas market. The lockdowns, social distancing norms, and curfews have caused massive disturbances in the operations and the supply chain networks. Delayed projects, unavailability of raw materials, reduced available workforce, etc., are stagnating the growth of the biogas market. The global impact of the COVID-19 crisis is expected to gradually fade away as nations are trying to return to pre-pandemic levels. It is uncertain to say how long the situation may persist this way. Nonetheless, our research report’s in-depth analysis will help you gain an exhaustive understanding of this niche market.
Segmentation-
On the basis of feedstock, the market bifurcates into energy crops and organic residue & wastes. On the basis of its application, the market segments into heating, power generation, combined heat & power (CHP). Etc. Geographically, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage-
The report demonstrates a thorough study of several regions and countries. Our research analysts have developed this report after evaluating various factors that regulate regional growth, such as the political, technological, social, economic, and environmental status of that particular region. The report provides a detailed qualitative and quantitative analysis for the prospected market. The information presented in this report is gathered through interviews with multiple stakeholders. The report gives key insights into the regulatory scenarios of this niche market and also incorporates Porters’ Five Forces Analysis and SWOT Analysis for an infallible prediction of the market. The report also focuses on the recent advancements in the industry, including information on new product launches, expansions, and key trends in the biogas market.
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Drivers & Restraints-
Escalating Need for Renewable Energy Resource to Drive Growth
Due to the rising environmental concerns and limited non-renewable resources in the world, the need for renewable energy resources is increasing. Biogas is the only renewable resource of energy that finds its application across the sectors of heat, transport, and electricity. Biogas can be upgraded into biomethane, which is a highly efficient fuel. It can lower greenhouse gas emissions by up to 80%. This is expected to further escalate the market growth. The increasing adoption of transportation vehicles running on natural gas is expected to create opportunities for the biogas market growth.
However, the setup of biogas plants requires high investments initially. This is expected to likely act as a restraint to market growth.
Regional Insights-
Europe to Gain the Largest Share in the Global Market
Major countries like Germany, Spain, France, Italy, Sweden, and U.K. are major consumers of bio-based energy resources. Germany hosts over 10,000 plants and is the largest biogas manufacturer in Europe. These key factors are expected to help Europe hold the largest stake in global biogas market share.
Stringent regulations in countries like India and China to reduce carbon footprints are expected to bring rapid growth to the Asia Pacific. Initiatives like Swachh Bharat Mission (SBM) in India are expected to flourish the regional market growth. As claimed by the Indian Ministry, approximately 53% of daily waste generated by the country is processed per day, and the country aims to reach 100% waste management.
North America hosts above 2200 biogas production plants across its 50 states. Being a prominent producer of biogas, North America is expected to witness moderate growth in the forthcoming years.
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Competitive Landscape-
Companies’ Project Expansions to be a Foremost Growth Strategy
In the highly consolidated global biogas market, key players across the globe are strategizing on the expansion of their production volumes. Increasing engagement in inorganic and organic developments is expected to strengthen the global rankings of major companies. For instance, Brightmark Energy announced the expansion of its biogas project in February 2020. The project named ‘Yellowjacket’ is based on a partnership with a total of six farms present in the region and would produce renewable natural gas (RNG) by extracting methane from 265,000 gallons of dairy manure each day.
Industry Developments-
May 2020: Weltec Biopower announced the construction of a biogas plant in May 2020. The plant will be built in Veria, Greece.
June 2020: Gasum, a Nordic energy company, announced opening its first liquefied natural gas (LNG) and liquefied biogas (LBG) filling station in Stockholm.
April 2020: Ductor announced building three new combined biofertilizer-biogas facilities that are expected to be operational by 2021.
Key Players in the Global Biogas Market:
- WELTEC BIOPWER GmbH (Germany)
- Air Liquide (France)
- Future Biogas Limited (U.K.)
- PlanET Biogas Glbal GmbH (Germany)
- Scandinavian Biogas Fuels International AB (Sweden)
- EnviTec Biogas AG (Germany)
- Ameresco (U.S.)
- Quantum Green (India)
- AB Holding SPA (Italy)
- RENERGON International AG (Switzerland)
- StormFisher (Canada)
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Biogas Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Biogas Market Analysis (USD Billion) (Million Cubic Meter), Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Feedstock
- Organic Residue & Wastes
- Biowaste, Municipal, Sewage
- Agricultural Waste
- Others
- Energy Crops
- Organic Residue & Wastes
- Market Analysis, Insights and Forecast – By Application
- Electricity Generation
- Heating
- Combine Heat & Power
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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