Biogas Market to Grow at 14.4% CAGR by 2027
" COVID-19 Impact on Biogas Market, size, share, growth, industry analysis, and forecast 2021-2027 "
Biogas is generated by anaerobic fermentation of biodegradable materials or by the action of anaerobic organisms (bacteria) on natural waste. Usually, the gas is produced by decomposing municipal waste, food waste, plant materials, and manure. In this procedure, the natural waste is biologically broken down in the presence of oxygen. Anaerobic fermentation enables manufacturers to change unwanted gases such as nitrous oxide and methane into biogas.
The limited availability of conventional fossil fuels such as oil and natural gas and environmental degradation is one of the crucial problems of the world. The generation and utilization of renewable energy are projected to support overcoming these problems. The upgraded biogas, such as biomethane, is the new development in the biogas with natural gas properties. Thus, elevating demand for the upgraded biogas is enhancing the market growth.
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Furthermore, climate change is projected to impact the occurrence of future coronavirus-like situations. This has resulted in a rising emphasis on the adoption of biogas. Companies in the biogas market benefit from this opportunity since they are becoming conscious of the combined impacts of swift demographics and societal and technological transformations. Companies in the biogas market are opening a new path for growth opportunities in developing countries where an important section of the population still depends on conventional firewood for domestic purposes such as cooking fuel.
The Biogas Market research report titled “Biogas Market based on Substrate, Application, and Geography – Global Forecast up to 2027.”
The top-notch competitors leading the market are Agrinz Technologies GmbH, Scandinavian Biogas Fuels International AB, PlanET Biogas Global GmbH, IES BIOGAS S.r.l, and StormFisher.
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The European region is leading the market, and the Asia Pacific is projected to grow at the highest rate. The factors such as the rising usage of biogas in rural areas for cooking purposes and the establishment of organic fertilizers for farming are driving the market in the region.
The report consists of 76 Tables and 45 charts depicting the in-depth market study and the impact analysis of COVID-19 by Vendor name. View detailed TOC here.
Biogas Market on the basis of Substrate
- Organic Waste
- Sewage Sludge
- Energy Crops
Biogas Market on the basis of Application
- Vehicle Fuel
Biogas Market on the basis of Geography
- North America
- Asia Pacific
- Rest of the World