Focus on Alternative Energy to Reduce GHG Emissions Drives the Global Market for Biogas Plants, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Biogas Plants market. The global market for Biogas Plants is projected to reach US$10 billion by 2022, driven by the focus on alternatives to fossil fuels as a means to achieve energy sustainability and security, and government support for eco-friendly alternatives.
Rising demand for fuel & energy, growing concerns over depletion of fossil fuel reserves, and increased environmental degradation caused by polluting conventional energy sources are driving focus on cleaner alternatives. The scenario is throwing the spotlight on biogas as a compelling alternative to petroleum- or coal-based energy sources. The market for biogas plants is witnessing steady growth, encouraged by the rising environmental cost of conventional power-generation, and stringent regulations governing coal-fired power plants. The flexibility of producing biogas from a wide variety of organic materials and wastes, such as crop residues, animal manure, sewage sludge, municipal/industrial organic waste, stillage from ethanol production and specially grown energy crops is attracting immense interest in biogas. Steady economic growth and GDP gains especially in developing countries is benefiting investments in clean energy technologies. Biogas helps reduce harmful greenhouse gas emissions, while simultaneously enabling countries to energy self-sufficiency. The gradual migration of industries from traditional to renewable sources of energy will continue to benefit growth in the market.
Governments across the world are encouraging the development of biogas, guided by its several beneficial features, over and above fossil fuels. Emerging use of biogas as transportation fuel in growing number of countries worldwide coupled with the establishment of biogas based power units will drive growth in the market. Anaerobic digesters are gaining importance supported by growing concerns over appropriate disposal of the massive quantities of waste organic materials and the sustainable use of animal and solid waste such as industrial residual biomass, agricultural wastes, and municipal sludge.
As stated by the new market research report on Biogas Plants, Europe represents the largest market worldwide, followed by the United States. Growth in these markets is driven by the implementation of eco-friendly energy policies, favorable state and federal legislations and the fact that biogas can be upgraded to Renewable Natural Gas (RNG) that is identical to petroleum-derived products. Rapid urbanization, strong demand for electricity, emphasis on renewable energy sources, and favorable government policies make developing Asian countries attractive markets for biogas production. India ranks as the fastest growing market with a CAGR of 13.3% over the analysis period.
The research report titled “Biogas Plants: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market trends, market issues, growth drivers, and strategic industry activity of global companies. The report provides market estimates and projections for major geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), China, India, and Rest of World.
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Jess C. Gregorio
Affiliate Marketing and Project Lead Generation Manager for the Philippine Territory