"We Envision Growth Strategies Most Suited
to Your Business"
The global biogas market size is expected to reach USD 37.02 billion by 2028. The increasing demand for clean energy sources is expected to spur opportunities for the market, mentioned in a report, titled “Biogas Market Size, Share & COVID-19 Impact Analysis, By Feedstock (Organic Residue & Wastes {Biowaste, Municipal & Sewage, Agricultural Waste, and Others}, and Energy Crops), By Application (Electricity Generation, Heating, Combined Heat and Power, and Others), and Regional Forecast, 2021-2028.” The market size stood at USD 24.03 billion in 2020 and is expected to exhibit a CAGR of 5.4% between 2021 to 2028.
Acquisition of Wisconsin Dairy Biogas Project by Brightmark to Stimulate Growth
Brightmark Energy, a San Francisco-based waste and energy development company announced that it has acquired an anaerobic digester northwest of Madison, Wisconsin, that will convert 90,000 gallons per day of dairy waste from three local farms into biogas and other useful products. Post-installation of gas upgrade equipment will produce enough renewable natural gas (RNG) to replace at least 50,000 MMBtu of conventional natural gas each year. This is equivalent to travel 1.27 million miles in a compressed natural gas (CNG) bus, or from San Francisco to New York and back over 200 times. Brightmark Energy acquired the digester from Clean Fuel Partners. This anaerobic digestion claims to reduce local pollution and greenhouse gas emissions. Moreover, the process recovers most of the nitrogen and phosphorous from manure and utilizes nutrients to create balanced biofertilizers that help grow local crops. The acquisition by the company is expected to create lucrative opportunities for the market owing to the anaerobic digestion to prevent greenhouse gas emissions from the dairy manure.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/biogas-market-100910
Rising Renewable Energy Demand to Augment Business
The implementation of environmental protection regulations by authorities to produce cleaner and environment-friendly energy resources will foster the healthy growth of the market. The rising focus on renewable energy to reduce dependency on conventional power generation will spur the demand of the market. The growing investments in bioenergy, including solar, wind, and geothermal energy have reduced the dependency on coal and other fossil fuels. Moreover, bioenergy is one of the major sources of renewable energy, holding more than 50% share in the world’s total renewables consumption. Also, the unavailability of fossil fuels and surging environmental issues are expected to fuel demand for biogas in the foreseeable future.
Enlargement of Production Capacities by Industry Players to Stimulate Growth
The eminent players in the market are focused on expanding their production processes to reinforce their position in the industry. Companies are launching new plants and revamping existing ones to hold a significant share in the market. For instance, in May 2020, Weltec Biopower announced the development of a biogas plant in Veria, Greece. The main investor of the project is one of the largest abattoirs for cows and pigs in Greece. Similarly, in February 2020, Brightmark Energy company announced plans to expand its project, partnering with six total farms in the region.
Notable Development:
The Report Lists the Key Companies in the Biogas Market:
Further Report Findings:
Table of Segmentation:
ATTRIBUTE | DETAILS |
Study Period | 2017-2028 |
Base Year | 2020 |
Forecast Period | 2021-2028 |
Historic Period | 2017-2019 |
Unit | Value (USD Billion) & Volume (Million Cubic Meters) |
Segmentation | By Feedstock; Application; and Region |
By Feedstock |
|
By Application |
|
By Region |
|