Pune, India, July 21, 2021 (GLOBE NEWSWIRE) -- The global biogas plant market size is projected to reach USD 7.71 billion by 2027, exhibiting a CAGR of 14.7% during the forecast period. Increasing adoption of bioenergy sources will be a major growth determinant for this market, observes Fortune Business Insights™ in its report, titled “Biogas Plant Market Size, Share & COVID-19 Impact Analysis By Feedstock (Bio-municipal Waste, Agriculture Residue, Energy Crops, and Others), By Digester Type (Wet Anaerobic Digester and Dry Anaerobic Digester), By Application (Power Generation, Heat Generation, Transportation, and Others), and Regional Forecast, 2020-2027”. Mounting concerns over escalating emission levels around the world have intensified global efforts towards transitioning to clean energy sources.

Biogas, which forms a part of bioenergy, is being seen as an important instrument in aiding this transition. According to the International Energy Agency (IEA), 67% of the global electricity demand will be met by renewables by 2040, with solar and wind accounting for roughly 40% and bioenergy and hydro contributing around 25%. The IEA’s Stated Policies Scenario predicts that the share of bioenergy will increase from the current 5% to 12% by 2040, while its Sustainable Development Scenario envisages the share to rise to 20% by 2040. Biogas plants will form the crux of bioenergy adoption in the next few decades, which will bode well for this market.

As per the report findings, in 2019, the global Biogas Plant Market value was USD 5.05 billion in 2019. The other features of the report include:

Driving Factor

Push to On-going Biogas Projects amid COVID-19 to Create New Energy in the Market

The biogas plant market growth is likely to benefit from the regional and international support being given to complete biogas projects that are already underway in different parts of the world. For example, in South Africa, a waste-to-energy project funded by the Global Environment Facility (GEF) and the UN Industrial Development Organization (UNIDO) to improve awareness about the benefits of biogas was stalled because of the COVID-19 pandemic outbreak.

However, project heads have ensured the installation of digesters at the site, even though monitoring is being done remotely. In Senegal, value-added tax on renewable energy has been removed, which includes biogas equipment. Furthermore, governments are also actively expanding biogas capacity in their countries. For example, in December 2020, India’s Ministry of Petroleum and Natural Gas signed a deal with JBM Renewables to build 500 compressed biogas projects in the country. However, supply chain disruptions and reduced investments due to the coronavirus have hampered the growth of this Biogas Plant Market  in 2020.

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Biogas Plant Market Report Scope and segmentation:

Report Coverage Details
Forecast Period 2020 to 2027
Forecast Period 2021 to 2028 CAGR 14.7%
2027 Value Projection USD 7.71 Billion
Base Year 2019
Market Size in 2020 USD 5.05 Billion
Historical Data for 2016 to 2018
No. of Pages 220
Segments covered Feedstock, Digester type, Application
Growth Drivers Push to On-going Biogas Projects amid COVID-19 to Create New Energy in the Market
High  Production Capacity to Propel Market Growth in Europe
 

Pitfalls & Challenges 		High Initial Investments for Establishing Plants May Hinder Market Growth

Regional Insights

High Production Capacity to Propel Market Growth in Europe

Europe dominates the biogas plant market share, boasting a market size of USD 3.46 billion in 2019. The main reason for the region’s enviable position in this space is the widespread presence of biogas facilities in the continent. For example, the European Biogas Association estimates that over 18,000 biogas production plants were operational across Europe towards the end of 2019.

Increasing investments in renewable energy sources and massive generation of organic waste are expected to be the two prime factors fueling the growth of the market in Asia Pacific. The market in North America, on the other hand, is predicted to enjoy numerous lucrative opportunities during the forecast period due to the strong presence of biogas facilities across all 50 states in the US.

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Competitive Landscape

Geographic Expansion to be the Principal Growth Strategy for Market Players

Companies operating in this Biogas Plant Market are steadily expanding their presence across different geographies to widen their international business horizons. In addition to this, key players are also engaging in collaborations with other competitors as well as government entities to gain a further competitive edge.

Industry Developments:

List of Key Companies Covered in the Biogas Plant Market Report:

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Major Table of Content:

TOC Continued…!

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