Biogas Market to Witness Exponential Growth by 2032

Biogas is a mixture of different types of gases, which are produced through anaerobic digestion, fermentation, and other processes. Biogas is majorly generated using waste products from the plant, agricultural industry, sewage, industrial waste, and municipal waste. In this process, organic compounds are biologically broken down in the absence of oxygen. Various applications of biogas include space heating, cooking, powering vehicles, and heat & electricity production. Biogas is an environment-friendly energy source, as it burns with blue flame without producing soot particles helps in sanitizing the environment, and reduces global waste levels without relying on fossil fuels.

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The surge in demand among farmers, municipalities, and industrial processors for waste treatment technologies is a key factor driving the growth of the global biogas market. The rise in demand for biogas as a renewable source of energy in various developed and developing economies is another factor that supports the growth of the global biogas market. Biogas is used as a fuel in stationary &mobile engines to supply motive power, pump water, and drive machinery or generate electricity. Power generation and automobiles are the primary sectors where most of the energy is being used. An increase in the use of biogas and other renewable sources of energy would help reduce carbon dioxide emissions. A mix of maize and manure is the most commonly utilized substrate for agricultural biogas plants. Across the globe, governments are giving subsidies to encourage the production of biogas which increases the biogas market.

The high installation cost for setting up biogas plants and pipelines and their commissioning are major factors restraining the growth of the global biogas market. In addition, the effect of temperature on biogas production especially in cold climates is expected to hamper the growth of the global biogas market.

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Recent developments: Acquisition in the biogas market

In November 2019, Macquarie Capital Principal Finance acquired the UK biogas producer BioCow. Biocow is a leading producer of biomethane from agricultural waste through anaerobic digestion. The acquisition would enable the company to enhance its presence in the biogas market across the nation.

In August 2019, Bioenergy DevCo, a developer of anaerobic digestion facilities acquired BTS Biogas. The acquisition would enable Bioenergy DevCo to increase BTS Biogas' technology footprint in North America, working closely with companies and municipalities to help them efficiently, cleanly, and affordably dispose of organic waste while producing clean, renewable natural gas that can be used by utilities.

Surge in usage in biogas and industrial applications

The global biogas market, by region, is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Europe holds the largest share of the market in terms of revenue, owing to the rise in the adoption of biogas for electricity and heat production. European countries work together in the European Biogas Association, whose directives are to curb carbon emissions. Asia-Pacific is expected to witness significant market growth, owing to growth in industrial infrastructure and expansion need for household heating fuel. The surge in the application of biogas in rural areas for cooking purposes and the development of organic fertilizer for farming in Asia-Pacific is expected to boost the market growth. North America is growing at a significant rate, owing to an increase in the adoption of a substitute and renewable source of energy.

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COVID-19 impact analysis

• Restrictions on business activities as well as travel and border closures have severely reduced energy demand in transport and industry, declining the consumption of bioenergy and other renewables.
• As most of the commercial areas such as supermarkets and restaurants are not operating at full capacity, industry players are focusing on developing new biogas plants based on specific client requirements.
• Owing to extended lockdown and limited market demand, the biogas industry is facing new challenges, including working capital and limited labor force. Companies such as Gandaki Urja Pvt. Ltd. are managing their working capital with the cash raised for the expansion of the biogas plant to maintain daily operations for the biogas plant.
• As the commercial demand is hampered, industry players are focusing on including new small- and medium-scale customers to maintain significant demand.
• However, certain biogas projects have been impacted during lockdown. For instance, the Waste-to-Energy South Africa Project, initiated by the United Nations Industrial Development Organization (UNIDO) and Global Environment Facility (GEF), is temporarily stopped. The project involved training, constructing, and commissioning domestic biogas digesters for the private sector, which will further boost the economy after the completion of the project.

Key benefits of the report

• This study presents the analytical depiction of the global biogas 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 a detailed analysis of the global biogas market share.
• The current market is quantitatively analyzed to highlight the 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 the coming years.

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