Research Nester released a report titled “Biodigester Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global biodigester market in terms of market segmentation by digester, by source of waste, by technology, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
A biodigester is an equipment used to decompose biodegradable waste material and convert it into methane gas which can be used for various domestic and commercial purposes. The market for biodigesters is projected to observe a CAGR of around 6% over the forecast period, i.e., 2020-2028. The market is segmented by digester, by source of waste, by technology, by application and by region. Out of these, the source of waste segment is further segmented into agricultural waste, wastewater, residential waste, commercial waste, landfill and others. The segment for agricultural waste is anticipated to grow at the highest rate during the forecast period on account of rising demand for biodigesters in rural areas, mainly on farms, for decomposition of agricultural and other farm waste.
On the basis of region, the biodigester market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is anticipated to grow at the highest rate in the upcoming years as a result of agricultural activities in the region that are carried out on a large scale. Countries such as China, India, Indonesia and Thailand are increasingly implementing biodigesters in the rural areas in order to generate electricity and manage the amount of waste generated. The market in North America is estimated to grow substantially on account of growing use of biodigesters in North American countries, i.e., U.S. and China.
Growing Use of Renewable Sources of Energy to Boost the Market Growth
According to the Eurostat, biofuels are a significant part of the renewable sources used for fuel consumption currently. Renewable sources of energy held a share of 8.5% in total final energy consumption in 2018.
The rising demand for biofuels is anticipated to drive the growth of biodigester market, which is further estimated to increase the demand for various components used in biodigesters as well. Furthermore, various initiatives taken by governments to promote agriculture is also predicted to result in a high demand for biodigesters. However, the inadequate technical expertise and the high initial cost of setting up a biodigester are some factors estimated to restrict the market growth in coming years.
This report also provides the existing competitive scenario of some of the key players of the global biodigester market which includes company profiling of HomeBiogas, Sistema.bio, PlanET Biogas USA Inc., DVO, Inc. (LON: DVO), Evoqua Water Technologies LLC, Regenis, Paques BV, OWS, CleanWorld and SEAB Power Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global biodigester 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.