Transparency Market Research has published a new report on the global biogas market. The report, titled “Biogas Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 - 2023,” projects the global biogas market to expand at a CAGR of 6.56% during the period between 2015 and 2023. The market generated 22,488.0 KTOE in 2014 and is anticipated to generate 39,845.58 KTOE by 2023.
The report offers a comprehensive overview of the global biogas market and identifies the key factors impacting the market’s growth across some of the major regions. Furthermore, the report discusses the competitive landscape of the market.
Biogas is fast emerging as an important constituent in the energy mix across nations with the growing focus on reducing greenhouse gas emissions and dependence on conventional sources of energy. The adverse effects of global warming have led nations to invest on biogas which is cost-effective and has minimal environmental impact. Biogas is produced by the decomposition of agricultural waste, municipal waste, waste sewage, and others.
The report states that the growing shift towards renewable sources of energy has boosted the growth of the global biogas market. Increased demand for waste treatment and infrastructural development for natural gas have also augmented the market’s growth. However, high initial investments and installation costs of setting up biogas plants might restrain the growth of the market during the forecast period. The overall market has a potential to grow with the rising number of natural gas vehicles.
In terms of application, the report segments the global biogas market into vehicle fuel, electricity and heat, and others. The electricity and heat application segment dominated the market in 2014 and is anticipated to display rapid growth during the forecast period.
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The report studies the growth of the global biogas market across Europe, North America, Asia Pacific, and Rest of the World. In Europe, countries such as Germany, France, the U.K., and Sweden are investing heavily in generating energy from biogas owing to the increasing adoption of vehicles running on natural gas. Furthermore, these European nations are taking efforts to increase their reliance over renewable resources of energy and cut down the emission of greenhouse gases. Germany has an above average share in the global biogas market. The market has a significant opportunity to grow across the developing nations in Asia Pacific including Thailand, Malaysia, India, and China. Governments across these countries are realizing the potential of biogas and hence, are investing in building biogas plants.
Some of the prominent players in the global biogas market are Wärtsilä Corporation, Vanzetti Engineering S.r.l., Air Liquide Advanced Business & Technologies, EnviTec Biogas AG, Gasrec Ltd., Swedish Biogas International AB, Cryostar SAS, Scandinavian Biogas Fuels International AB, Biofrigas Sweden AB, and Cryonorm BV. The report profiles these players on the basis of attributes such as revenue and recent developments.
Global biogas market has been segmented as:
Global Biogas Market: Application Analysis
- Electricity & Heat
- Vehicle Fuel
- Others
Global Biogas Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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