Global Biogas Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
10 Aug, 2021
The biogas market consists of sales of biogas by entities (organizations, sole traders, and partnerships) that are engaged in the production of biogas. Biogas is a form of biofuel that is created spontaneously when organic waste decomposes. Biogas generation is also known as anaerobic digestion since it occurs in the absence of oxygen. It can be used for a range of purposes including automotive fuel, cooking, and power generation.
Global Biogas Market Size And Drivers:
The global biogas market is expected to grow from $58.90 billion in 2020 to $64.14 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biogas market is expected to reach $88.47 billion in 2025 at a CAGR of 8.4%. The rising shift towards renewable sources of energy is expected to propel the growth of the biogas market in the coming years.
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Trends In The Global Biogas Market
The expansion of production facilities is a key trend gaining popularity in the biogas market. Major companies operating in the biogas sector are focusing on expanding their production facilities to meet the increasing demand for renewable energy and are replacing chemical fertilizers with recycled nutrients in the production of biogas. For instance, in April 2020, Ductor, a Finnish-Swiss biotech company, is constructing three combined biofertilizer-biogas facilities in northern Poland. The facilities will generate renewable electricity and organic nitrogen fertilizer entirely from poultry waste, lowering greenhouse gas (GHG) pollution dramatically. Two of the proposed facilities will have a 0.5MW installed capacity, while the third will have a 1MW capacity.
Global Biogas Market Segments:
The global biogas market is further segmented based on source, application, end user and geography.
By Source: Municipal Waste, Industrial Waste, Agricultural Waste, Others
By Application: Residential, Commercial, Industrial
By End User: Power Generation, Heat Generation, Cogeneration, Others
By Geography: The global biogas market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the biogas market in 2020.
Read More On The Report For The Global Biogas Market At:https://www.thebusinessresearchcompany.com/report/biogas-global-market-report
Biogas Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides biogas market overviews, analyzes and forecasts market size and growth for the global biogas market, biogas market share, biogas market players, biogas market segments and geographies, biogas market’s leading competitors’ revenues, profiles and market shares. The biogas market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.