Growing concerns over depleting fossil reserves coupled with the rising environmental impacts from burning conventional fuels will drive global biogas market growth. Increasing awareness about biogas technologies across the globe will encourage the deployment of these technologies.
Government initiatives to promote biogas across end-use industries along with enactment of stringent environmental laws curb GHG emissions will also positively influence the global biogas market trends throughout the forecast timeframe. As per the latest study by Global Market Insights, Inc., biogas market size will exceed USD 110 billion by 2025.
Increasing penetration of biofuels across the transportation sector will create favorable business scenario for the market. Growing initiatives toward the utilizing industrial and municipal waste for energy generation will complement the biogas demand. There have been rising efforts toward the deployment of sustainable energy technologies promoted by several incentives and subsidy schemes. Moreover, governments are bound to reduce the dependency on fossil fuel sources for power generation which will enhance the industry outlook.
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Biogas market from sewage sludge substrate will witness significant gains on account of increasing shift toward utilizing domestic sewage for biogas production which can be further used for electricity generation. In addition, the local bodies have been planning for large scale development of sewage treatment facilities owing to growing environmental concerns from disposing the sewage in the water bodies. Huge availability of sewage from the urbanized areas should accelerate product deployment to sustain the growing electricity demand.
Electricity applications will continue to be a consistent driving factor for the global biogas market in the upcoming years, pertaining to growing awareness toward climate change and ever-increasing electricity prices. 500 kW – 3 MW biogas plants should witness increasing deployment over the study timeframe because of the favorable conditions created by intensifying regulations to minimize energy-related carbon emissions.
Rapid urbanization from the increased migrations from rural areas will surge the residential energy needs. In addition, the ongoing smart city trends should foster the business landscape over the forecast timeline. Furthermore, burgeoning energy demand from the manufacturing units due to proliferating industrialization will enhance the industry outlook.
Global biogas market from commercial application will showcase indispensable growth on account of space heating applications. Availability of abundant feedstock and high energy density makes it a viable option deployment in the commercial sector.
Pre-hydrolysis technology in the biogas industry is projected to account for significant growth owing to rising demand for sludge stabilization. The technology features prominent benefits including minimal production of biosolids, low costs of the process and enhanced energy recovery giving it an edge over other alternatives.
Biogas market size from anaerobic digestion process hit USD 45 billion in 2018 and is further anticipated to achieve a CAGR of over 6% through 2025. The process of anaerobic digestion extracts the energy in the form of biogas and leaving behind the biofertilizer. Growing need for replacing chemical fertilizers with the organic alternatives for improved soil health should drive the segmental growth, given the dual advantage of producing energy and fertilizers.
Asia Pacific biogas market will display commendable gains owing to rising adoption of renewable energy technology and increasing electricity demand. High count of electricity deprived remote location and ongoing modernization of grid infrastructure will fuel the installation of biogas systems in the region.
Increasing awareness toward conservation of agricultural land coupled with growing initiatives for improvement of local economies will foster the development of biogas plants across the emerging economies. Furthermore, high availability of cheap feedstock coupled with increasing carbon emissions will drive the industry growth.
Author Name : Amol Kothekar