Biogas Market is Anticipated to Witness High Growth Owing to Increasing Demand for Renewable Sources of Energy

Biogas Market


Biogas is a mixture of different gases produced by the breakdown of organic matter in the absence of oxygen. It is primarily composed of methane and carbon dioxide. Biogas can be produced from raw materials such as agricultural waste, municipal solid waste, plant material, sewage, green waste, and food waste. It is a renewable source of energy and is considered carbon neutral. The benefits of biogas include reducing greenhouse gas emissions, providing renewable energy, treating organic wastes, and producing biofertilizer as a byproduct. With growing concerns around environmental pollution and the need for more sustainable energy sources, biogas production is increasing globally.

The Global biogas market is estimated to be valued at US$ 75.46 Mn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the biogas market are Aeolos Wind Energy Ltd, BORNAY, Braun Windturbinen GmbH, Britwind, EasyWind GmbH, Endurance Wind Power, ENESSERE S.r.l., Fortis Wind BV, iQron GmbH, PSW-Energiesysteme GmbH, Ryse Energy, SD Wind Energy Limited, TUGE Energia, Wind Energy Solutions B.V., and XZERES Wind Europe Ltd. These companies are focused on expanding their biogas production facilities and offering innovative technologies to increase yields.

Some of the major opportunities in the Biogas Market Size include the use of agricultural waste for biogas production. With ample agricultural waste generated globally each year, it presents a sizable potential for sustainable energy production. Various governments also offer subsidies and tax incentives for biogas projects using agricultural waste. This is encouraging more private sector participation.

Europe currently dominates the global biogas market due to supportive regulatory policies. However, regions like North America and Asia Pacific are showing high growth potential. Many countries in these regions are introducing new initiatives to promote the production and use of biogas. International collaborations are also helping the global expansion of biogas technology.

Market drivers: Rising concerns about greenhouse gas emissions and focus on renewable and clean energy are driving the demand for biogas. It is a carbon-neutral fuel that helps reduce dependence on fossil fuels.

Market restraints: High initial investment requirements for setting up biogas plants and infrastructure is a major challenge, especially for small-scale projects. Availability of raw materials and their high transportation costs can also hamper the cost-effectiveness of biogas production. Lack of technical know-how and skilled workforce in some regions act as a restraint.

Segment Analysis
The biogas market is currently dominated by the feedstock segment. Feedstock accounts for over 65% of the total biogas market share as it is the main raw material used to produce biogas through anaerobic digestion. Livestock waste from farms house large cattle populations and is the most abundantly available feedstock used. Municipal solid waste is another major feedstock segment that is growing steadily owing to the ever increasing urban waste generation globally.

Global Analysis
Europe is currently the largest and fastest growing regional market for biogas. Countries like Germany, UK, Italy and France have established supportive policies and incentives that have encouraged widespread adoption of biogas plants over the past decade. Germany alone accounts for over half the total biogas production capacity in Europe. The Asia Pacific region is also emerging as a major biogas market with China and India driving new installations to meet their renewable energy targets and deal with agricultural and urban waste problems. Supported by regulations and investments, the North America and Latin America markets are also expanding at a good pace especially in countries like the US, Canada and Brazil.

Get More Insights on Biogas Market

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

Monochloroacetic Acid (MCAA) Market Is Estimated To Witness High Growth Owing To Increasing Demand for Surfactants and Herbicides

Image
Monochloroacetic Acid (MCAA) Market The Monochloroacetic Acid (MCAA) Market is estimated to be valued at USD 676.52 Million in 2022 and is expected to exhibit a CAGR of 7.03% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Monochloroacetic Acid (MCAA) Market is driven by the increasing demand for surfactants and herbicides in several industries such as agriculture, pharmaceuticals, textiles, and personal care. MCAA is extensively used in the production of surfactants, herbicides, and carboxymethyl cellulose (CMC), which are essential in various applications. These applications include detergents, agrochemicals, pharmaceuticals, dyes, and cosmetics, among others. The versatile properties of MCAA, such as its ability to act as a raw material in the production of herbicides and surfactants, make it highly desirable in the market. Market Dynamics: The Monochloroacetic Acid (MCAA) Market is driven by two k
Read more