The biogas plant market is estimated to garner a large revenue and grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing rate of pollution around the world, which in turn is giving rise to the environmental concerns associated with the reduction of carbon emissions. According to the World Health Organization, 91% of the world’s population reside in places where air quality index exceeds the WHO guidelines. Moreover, 4.2 million deaths occur every year as a result of exposure to outdoor air pollution. In addition, as fossil fuels are limited in quantity and are widely consumed for various purposes, the emphasis on alternative environment-friendly fuels that produce imperishable form of energy is expected to witness growth. This is another factor considered to drive market growth in the upcoming years. Furthermore, the growing adoption of Paris climate change agreement by a large number of countries is also projected to increase the usage of biogas in the near future, in order to minimize the implications of global warming.
The market is segmented by application into electricity generation, biofuel, heat generation, and others, out of which, the electricity generation segment is anticipated to hold the largest share in the biogas plant market on account of rising demand for electricity and growing electrification of transport. As per the data provided by International Energy Agency (IEA), the total energy consumption in the world increased by 856 TWh from 2017 to 2018. The values for the same were 21,460 TWh and 22,316 TWh in the respective years. Along with these, increasing disposable income of people around the world coupled with escalating usage of digitally connected devices is also evaluated to boost growth of this market segment in the future. Additionally, on the basis of type, the segment for small digesters is assessed to witness the highest growth during the forecast period owing to the increasing implementation of these type of biodigesters in rural areas of developing countries to reduce dependency on LPG, natural gas and other hydrocarbon fuels.CLICK TO DOWNLOAD SAMPLE REPORT
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the biogas plant market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of ample availability of organic waste in countries, namely India, China and Thailand. According to the World Bank, 23% of the world’s waste is generated in East Asia and Pacific. It is calculated that by 2030, around 602 million tons of waste will be accumulated in this region. Apart from these, growing investments for the establishment of biogas plants is also projected to boost market growth in the region. Moreover, the market in Europe is predicted to gather the largest share by the end of 2030 ascribing to the huge volume of biogas production and rising spending by key market players to build modern biogas production facilities in the region.
The biogas plant market is further classified on the basis of region as follows:
Our in-depth analysis of the biogas plant market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major growth drivers for the market are environmental concerns to reduce carbon emissions and increasing focus on alternative eco-friendly fuels.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2030.
High installation cost of biogas plant is estimated to hamper the market growth.
Asia Pacific will provide more opportunities for market growth owing to the high availability of organic waste in India, China and Thailand.
The major players in the market are Ameresco Inc., Engie SA, Air Liquide SA, Gasum Oy, EnviTec Biogas AG, Future Biogas Limited, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, feedstock, and by region.
The electricity generation segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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