Global Biogas Market 2019-2023
About this market
The increasing rate of urbanization and population growth, which in turn, is leading to the higher consumption of goods and energy. Moreover, waste generation increases with the economic development of any particular region. The increase in the costs associated with the collection and treatment of these wastes is expected to be most drastic in low-income countries as it will be more than five-fold; they will be followed by the lower-middle-income countries with a four-fold increment. Hence, appropriate waste management techniques need to be adopted depending on the composition, ambient conditions, and regulations in a particular region. The global impact of MSW is growing significantly. Hence, the expected increase in MSW generation coupled with the need to reduce GHG emissions will drive the growth of the global biogas market during the forecast period. Technavio’s analysts have predicted that the biogas market will register a CAGR of almost 6% by 2023.
Stringent regulations pertaining to the reduction of GHG emissions
The regulatory initiatives are aimed at preventing the release of methane into the atmosphere. Since biogas energy plants capture methane and use it for energy generation, they offer the best solutions to reduce methane emissions. Hence, such regulations will drive the growth of the global biogas market.
Drawbacks associated with biogas production
Biogas still faces a challenge with regard to large-scale production, which is resulting in its low adoption from utility-level projects. Biogas also has a low conversion efficiency and contain impurities even after compression and refinement. The adoption of biogas and have resulted in comparatively lower investments in the global biogas market compared with other sources of renewables such as solar and wind, thus hampering the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the biogas market during the 2019-2023, view our report.
The market appears to be fairly fragmented and with the presence of few vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Biogas Market 2019-2023
Technavio recognizes the following companies as the key players in the global biogas market: Air Liquide, Ameresco, EnviTec Biogas, Gasum, Wärtsilä.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the use of biogas as piped gas.”
According to the report, one of the major drivers for this market is the increasing government support for the development of biofuel as fuel.
Further, the report states that one of the major factors hindering the growth of this market is the conditions that are not conductive for biogas formation in landfills.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook