Latest Research Analysis on Biogas Plant Market Expected to Reach CAGR of 6.5%. By 2024

Market Research Reports Search Engine (MRRSE) has recently publicized a new study to its vast repository, which is titled as The global biogas plant market is expected to be driven over the coming years, by an incrementally strengthening support shown by government and private bodies to biogas plant owners in terms of financial incentives and the favorable nature of regulations being set up. The market is also being driven by sheer positive air surrounding the establishment of successful biogas plants in terms of reducing the volume of disposed waste into landfills and thus becoming a strong eco-friendly alternative fuel source. However, the current rate of growth is being stifled by the lack of implementation of processes and equipment to create a feasible waste segregation system. This is restricting the overall supply of feedstock to biogas plants, deterring several new entrants from emerging into the competitive landscape.

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The global biogas plant market is expected to weigh in at 59,697 total biogas plants by the end of 2016. The market is expected to remain reasonably positive within a forecast period from 2016 to 2024 with a CAGR of 6.5%. By the end of 2024, this market’s volume is expected to reach 86,964 biogas plants, which means that over 30,000 are easily expected to be unveiled within the forecast period.

F&B and Agriculture Stay Strong Feedstock Providers to Biogas Plants

The global biogas plant market is segmented on the basis of feedstock, into agricultural waste, energy crops, sewage sludge, industrial waste, food and beverages processing residue, and food and beverages waste. Agricultural waste includes the organic waste matter generated in the agricultural industry. At the same time, there is also a growing scope of using energy crops; herbaceous plants that are grown specifically for producing bioenergy. Sewage sludge is the semi-solid residue in a wastewater treatment process. Waste and effluents generated from the leather industry, biofuels industry, and a few others can also be utilized as feedstock in biogas plants.

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Food and beverages and agricultural waste dominated the global biogas plant market in 2015. Biogas plants need a regular supply of high-yield feedstock to generate sufficient volumes of biogas to make their operations profitable. The above two feedstock sources have so far provided consistent and large volumes of feedstock to the global biogas plant market, making them much more preferred than any other feedstock source.

APAC Expected to Remain Dominant User of Biogas

Asia Pacific led the global biogas plant market in terms of biogas plant volume generation as well as consumption in 2015. This region’s biogas market is projected to expand at a CAGR of 7.8% from 2016 to 2022. China, India, Japan, and Australia have so far been the leading nations in terms of generation of biogas in the Asia Pacific biogas plant market. Like the developed economies, the biogas plant market in APAC has also been led by agricultural waste and the F&B processing residue, and sewage sludge as core feedstock. The rate of investments are also rising greatly in this region for waste management processes. These factors, coupled with increasing pressure created by energy imports have compelled various APAC countries to focus on alternatives to fossil fuels, including ramping up the generation of biogas.

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This release was published on openPR.