Biogas Upgrading Equipment Market Regional Analysis:
European Market Insights
Europe industry is set to dominate majority revenue share of 35% by 2035. To meet the challenging goal of 20% of final energy consumption set by the EU, bioenergy from renewable energy sources is essential. The favourable support circumstances provided by the government may positively impact market growth. In 2020, biogas accounted for 10.5% of the EU27's consumption of bioenergy and 4.5% of the EU27's total gross inland gas consumption. The government therefore completely encourages the use of renewable energy sources in all sectors, which has expedited the expansion of renewable energy sources including biofuels, biogas, and refined biogas. This is done to improve energy security. Also, according to estimates, biogas will be able to replace 10% of the gas consumption for the EU27 by 2030 and up to 30% to 40% by 2050. Therefore, these factors are driving the market growth in the region.
North American Market Insights
The biogas upgrading equipment market in North America is anticipated to hold a share of 25% during the forecast period. The market expansion can be ascribed to the region's growing desire for renewable energy as a means of reducing reliance on fossil fuels. In the years to come, the market's growth will also be aided by favorable government policies supporting biogas generation and the expansion of the region's agriculture sector.
