Biogas Market to Surpass Value of US$ 10.6 Bn by 2030, States Analysis by TMR Report
WILMINGTON, DE / ACCESSWIRE / March 29, 2023 / Transparency Market Research Inc. - The biogas market outlook by Transparency Market Research (TMR) states that the global market is prognosticated to exceed a value of US$ 10.6 Bn by 2030. In addition, the demand analysis of biogas market highlights that the market is expected to develop at a CAGR of 9% during the forecast period of 2020 to 2030.
The disposal of waste without proper treatment can result into environmental as well as health hazards. Hence, the regulatory authorities of several nations globally are imposing strict environmental regulations pertaining to the waste treatment. Furthermore, improving spending power and standard of living of populace from developing nations is fueling the adoption of proper waste treatment, according to TMR study on the global biogas market.
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The use of biogas plants can be beneficial for the treatment and disposal of varied wastes such as residential waste, agricultural waste, industrial effluents, and sewage. Moreover, biogas plants provide a sustainable solution that helps in the conversion of organic waste into biogas, which can be used for heat and electricity production. Increase in the understanding about such advantages is anticipated to lead to lucrative opportunities in the global biogas market during the forecast period, state analysts at TMR.
Biogas Market: Key Findings
- The government bodies of many nations are increasing focus on the execution of strict regulations pertaining to emission of greenhouse gases (GHGs) and carbon. This factor is resulting into compelling companies to launch pollution-free and highly effective energy generation techniques, which in turn, is creating notable business opportunities in the biogas market. This aside, the market is expected to be driven by several key factors such as increase in awareness about green energy, according to a TMR study that delivers insights on the emerging trends of the biogas market.
- The demand for biogas is being increasing in the recent years as it is emerging as a clean, organic, and renewable energy source. The use of biogas can help in addressing environmental concerns up to some extent. Moreover, increasing the use of biogas as well as other renewable energy sources can assist in carbon dioxide emission reduction. Rise in the understanding about these product advantages is estimated to help in the expansion of the global biogas market, state analysts at TMR.
Biogas Market: Growth Boosters
- Surge in the understanding pertaining to environmental safety and green energy is fueling the sales of biogas market
- Increase in the utilization of biogas in the power generation activities is driving the market growth
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Biogas Market: Regional Analysis
- The biogas market is expected to gain notable business opportunities in South Africa in the near future owing to increasing number of new domestic biodigester installations in the region. Furthermore, the market players are seen focusing on the development of remote monitoring systems that can allow for integrated and cost-efficient communication of small-scale biodigester for fast machinery troubleshooting.
- Several companies in the market are launching pay-per-unit metering solutions for domestic household use in East Africa. Such efforts are anticipated to help in the expansion of the biogas market in the East Africa region during the forecast period.
Biogas Market: Key Players
Some of the key players profiled in the report are:
- Wärtsilä
- Air Liquide
- PlanET Biogas Global GmbH
- Future Biogas Limited
- Scandinavian Biogas Fuels International AB
- WELTEC BIOPOWER GMBH
- Biofrigas Sweden AB
- EnviTec Biogas AG
- Quantum Green
- Ameresco
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Biogas Market Segmentation
Source
- Municipal Waste
- Animal Waste
- Agricultural Waste
- Others (including Waste From Food, Wood, Paper, and Cardboard
End-use
- Power Generation
- Cogeneration
- Heat
- Others (including Fuel in Vehicles)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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