Biogas Market Size, Share, Growth, Drivers and Opportunities 2022

The global biogas market size was valued at USD 96.3 billion in 2021 and is poised to grow at a significant CAGR of 6.7% during the forecast period 2022-28. Animal waste, food scraps, agricultural waste, and plant debris are all organic materials that can be broken down to produce biogas, a renewable fuel. Methane, carbon dioxide, and hydrogen sulphide make up the majority of it. Many applications for biogas exist, including the production of energy, heating, and fuel for vehicles. Growing worries about emissions from the use of fossil fuels for power generation and a greater emphasis on diversifying the energy portfolio are likely to push the market. Easy access to feedstock, encouraging governmental initiatives, and evolving trends towards the decarbonization of the energy sector are some of the salient characteristics that will favour product

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Biogas Market Growth Factors:
Future instances of coronavirus-like events are expected to be impacted by climate change. This has caused the adoption of biogas to receive more attention. As businesses in the biogas industry become more conscious of the combined effects of rapid demographic change, societal change, and technological development, they are taking advantage of this opportunity. Events like the World Biogas eFestival, which was held in May 2020 and was put on by the World Biogas Association, are becoming more widely known. In developing nations where a sizable portion of the population still uses conventional firewood for domestic purposes like cooking fuel, companies in the biogas business are opening up growth potential. Throughout the projection period, it is predicted that the biogas market would expand at a strong CAGR. Unfortunately, the cost of buying and installing a biodigester makes it difficult to implement biogas. Although the biodigester seems to be at risk of explosion, stakeholders must also adhere to strict safety and emission requirements. As a result, biogas is regarded as a safe technology, and its methane content is substantially lower than that of LPG (Liquefied Petroleum Gas).

The global biogas market segmentation:
1) By Source: Agricultural, Industrial, Municipal
2) By Application: Vehicle Fuel, Electricity, Heat, Upgraded Biogas, Cooking Gas

Biogas Market Regional Analysis:
According to estimates, North America will hold a sizable portion of the market during the projection period. Throughout the projected period, it is anticipated that factors such the growing need to reduce dependency on fossil fuels, continued technological advancements, falling costs, and supportive governmental policies would propel regional market expansion. On the other hand, due to the continuous shift towards a sustainable & circular economy and a change in emphasis towards cost-effective waste management procedures, Europe is anticipated to enjoy considerable market expansion during the forecast period.

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Key players in the biogas market report are AB Holding SPA (Italy), Air Liquide (France), Ameresco (U.S.), EnviTec Biogas AG (Germany), Future Biogas Limited (U.K.), PlanET Biogas Glbal GmbH (Germany), Quantum Green (India), RENERGON International AG (Switzerland), Scandinavian Biogas Fuels International AB (Sweden), StormFisher (Canada), WELTEC BIOPWER GmbH (Germany)

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