Rising need of renewable sources of energy and government initiatives is increasing the number of biogas plants across the globe
Green house gas emission and shrinking fossil fuel reserves are the major factors driving the growth of biogas plant market. Moreover, government initiative and supportive policies such as guaranteed access to power grids, financial subsidies and training programs the labor force further certain the development and growth of biogas plants market.
Global biogas plant market is segmented into applications types such as electricity generation, heat Generation and bio-Fuel Generation. Among these segments heat generation and electricity generation are the major segments which are dominating the global biogas plant market in terms of its applications. Energy generated from the small-scale digester plays an important role in providing electricity and fuel for cooking in rural areas of Asia and Sub-Sahara African regions.
Global biogas plant market is augmented to grow at a CAGR of 5.3% over the forecast period i.e. 2016-2024. The global biogas plant market is accounted for USD 26.4 billion in 2015 and anticipated to reach USD 49.7 billion by 2024. Asia-Pacific region dominates the global biogas plant market in 2016 with 38% market share closely followed by Europe with 30% market share. Asia-Pacific biogas plant market is estimated to grow at a moderate CAGR of 5.2% during the forecast period. China biogas plant market is estimated to expand swiftly at a compound annual growth rate of 7.3% over the forecast period.
Government Policies and (Green House Gases) GHG mitigation: Major Boost
Rising government support and favorable policies for the establishment of biogas plants across the globe, in terms of investments, educational programs and monetary subsidies, the global biogas plant market is likely to witness tremendous growth in near future. In December 2015, about 195 countries adopted the UNFCCC Paris Agreement to keep global warming below 2⁰C. Anaerobic digestion can be the important factor in achieving these targets by narrowing emissions related to energy production and waste management.
“Global Biogas Plants Market Outlook 2024” contains detailed overview of the global biogas plant market in terms of market segmentation by biogas plant, by application, by feedstock type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes provides competitive outlook of some of the major players of the global biogas plant market which includes profiling of companies EnviTec Biogas AG, Air Liquide, Quadrogen, Ameresco Inc, Kohler & Ziegler, Prometheus Energy, Scandavian Biogas, Cryonorm BV, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global biogas plant market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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