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The global biogas plant market size is projected to reach USD 7.71 billion by 2027 as a result of the increasing share of bioenergy in electricity generation, states Fortune Business Insights™ in its report, titled “Biogas Plant Market Size, Share & COVID-19 Impact Analysis By Feedstock (Bio-municipal Waste, Agriculture Residue, Energy Crops, and Others), By Digester Type (Wet Anaerobic Digester and Dry Anaerobic Digester), By Application (Power Generation, Heat Generation, Transportation, and Others), and Regional Forecast, 2020-2027”. The report further states that the value of the market stood at USD 5.05 billion in 2019 and the market is expected to surge at a CAGR of 14.7% from 2020 to 2027.
The COVID-19 pandemic has delivered a major setback to the biogas plant market growth, causing it to decline by a whopping -41.5% in 2020. Bioenergy projects have come to a standstill as lockdowns and trade and travel bans have led to a sudden unavailability of raw materials and workers for energy companies. As a consequence, investments in biogas facilities have declined, contracting the share of biogas in the total energy mix.
Weltec Biopower to Construct Biogas Facility in Greece
In May 2020, Weltec Biopower announced plans to build a 500 kW biogas plant in Veria, Greece. Weltec will be setting up this plant in collaboration with Tetoros Machinery, its partner in Greece, and the plant is expected to commence operations by November 2020. Utilizing the organic waste generated from slaughtering and animal husbandry activities in the country, the Weltec facility will convert cattle manure and leftovers from meat-processing operations using the anaerobic digestion technique. Also feeding the digesters will be fats and production wastewater being created by abattoirs and farms. Greece is also expected to invest approximately €9 billion in such clean energy projects in the forthcoming decade.
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High Waste Generation Worldwide to Heighten the Need for Biogas
Staggering amounts of municipal solid waste is generated every year across the globe. According to the World Bank, annually, 2.01 billion tons of solid waste is generated worldwide and 33% of this waste is not managed in an environmentally feasible manner. By 2050, the World Bank estimates global waste will increase to 3.40 billion tons, with per capita waste generation in high-income countries spiking by 19% and in low- and middle-income countries by 40% or thereabouts. Installation of biogas plants near urban areas can help the management of such waste in an ecofriendly manner and the gas produced after the treatment is complete can serve as an alternative energy source for supplying electricity. Moreover, biogas can play a critical role in reduce greenhouse gas (GHG) emissions. For example, the World Biogas Association postulates that increased usage of biogas can remove 4 billion tons of carbon dioxide annually, equivalent to at least 12% of the present GHG emissions, by 2030. Unleashing the potential of biogas is, thus, becoming a top priority for policymakers around the world, which augurs well for this market.
Alliances & Collaborations to be the Dominating Features of the Market
Forging alliances and entering into collaborations are emerging as the chief growth strategies adopted by key players in this market. Since the competitive landscape of this market is studded with a healthy presence of big and small players, leading companies, with a view to retain their apex positions, are expanding their market presence through strategic partnerships. These joint ventures are also enabling companies to strengthen their portfolios and broaden their international outlook.
List of Key Players Profiled in the Biogas Plant Market Report:
Further Report Findings:
Table of Segmentation
Value (USD Billion)
By Digester Type