The Business Research Company’s Biogas Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, August 10, 2021 /EINPresswire.com/ — The rising shift towards renewable sources of energy is expected to propel the growth of the biogas market in the coming years. Renewable energy, often known as clean energy, is derived from natural sources or procedures that are renewed regularly. Biogas is also referred to as renewable natural gas produced by the breakdown of organic matter such as animal waste and food scraps. According to International Energy Agency (IEA) global energy review 2020, renewable energy is expected to be the fastest-growing energy source in the future. In comparison to Q1 2019, global renewable energy usage in all industries rose by around 1.5% in Q1 2020 and estimated a 1% increase in the use of renewables by the end of 2020. Therefore, the shift toward renewable sources of energy drives the growth of the biogas market.
The global biogas market size is expected to grow from $58.90 billion in 2020 to $64.14 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biogas market is expected to reach $88.47 billion in 2025 at a CAGR of 8.4%.
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Major players covered in the global biogas industry are PlanET Biogas Global GmbH, Scandinavian Biogas, EnviTec Biogas AG, IES BIOGAS Srl, Air Liquide, Weltec Biopower GmbH, Biofrigas Sweden AB, Ameresco Inc., Wartsila, Engie SA, Bio-En Power Inc., Swedish Biogas International, CH4 Biogas, SP Renewable Energy Sources Pvt. Ltd, Beijing Sanyi Green Energy Development Co. Ltd, Biofuel USA Corporation, Quadrogen, Viessmann, BTS-biogas, Agraferm, Gasum, Xergi A/S, Zorg Biogas, Future Biogas Limited, and AAT Biogas Technology.
The biogas market consists of sales of biogas by entities (organizations, sole traders, and partnerships) that are engaged in the production of biogas. Biogas is a form of biofuel that is created spontaneously when organic waste decomposes. Biogas generation is also known as anaerobic digestion since it occurs in the absence of oxygen. It can be used for a range of purposes including automotive fuel, cooking, and power generation.
The main sources of biogas are municipal waste, industrial waste, agricultural waste, others. Anaerobic Digestion (AD) of the organic portion of municipal solid waste (OFMSW) creates biogas that can be used to generate energy, hence reducing waste that would otherwise be landfilled. Biogas is used for residential, commercial, and industrial purposes. It is implemented in various areas such as power generation, heat generation, cogeneration, others.
Biogas Global Market Report 2021 – By Source (Municipal Waste, Industrial Waste, Agricultural Waste), By Application (Residential, Commercial, Industrial), By End User (Power Generation, Heat Generation, Cogeneration), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides biogas market overview, forecast biogas market size and growth for the whole market, biogas market segments, and geographies, biogas market trends, biogas market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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