Press release
Biogas Plant Market Set to Surge Significantly During 2020– 2027 | By Growth, Trends
Rise in concerns about environmental hazards and surge in awareness about the harmful effects of greenhouse gases emitted in the atmosphere due to the usage of conventional fuels has played a significant role in driving the growth of the biogas plant market. Moreover, decrease in reserves of fossil fuels has led the growth of the demand for biogas among different industries. Biogas has been proved to be an eco-friendly alternative to conventional fuel used for generation of heat in the industries. High demand has been witnessed for biogas in municipalities, among farmers, and in industries to meet the increasing energy requirements. Moreover, surge in usage of biogas for transportation escalated the demand for the global biogas plant market.The growth of the global biogas market has further been driven by favorable government regulations and support toward the promotion of renewable energy sources in different parts of the world. However, issues in waste segregation methods act as the major restraining factor of the global biogas plant market.
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The Asia-Pacific region garners the highest market share in the biogas market, due to increase in waste management initiatives and high availability of feedstock attributable to rise in agricultural activities in the region. The market in Europe is expected to grow at a considerable rate, due to implementation of stringent regulations to control the emissions of hazardous gases and increase in usage of biogas in several industries as well as transportation.
COVID-19 scenario analysis
The outbreak of the novel corona virus pandemic has affected the global biogas plant market to a substantial extent.
• Owing to the nationwide lockdown, various industries are shut down or are lowering their production capacity. In addition, a prohibition on transport has significantly decreased the demand for biogas in the market.
• Furthermore, the biogas plants are facing irregularities in their supply chains for their feedstock, due to the restrictions imposed on transportation, which several affects the production of the biogas plants across the globe.
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Key benefits of the report
• This study presents the analytical depiction of the global biogas plant market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global biogas plant market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global biogas plant market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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