New York, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biogas Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06144629/?utm_source=GNW
, Swedish Biogas International, CH4 Biogas, SP Renewable Energy Sources Pvt. Ltd, Beijing Sanyi Green Energy Development Co. Ltd, Biofuel USA Corporation, Quadrogen, Viessmann, BTS-biogas, Agraferm, Gasum, Xergi A/S, Zorg Biogas, Future Biogas Limited, and AAT Biogas Technology.
The global biogas market is expected to grow from $58.90 billion in 2020 to $64.14 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $88.47 billion in 2025 at a CAGR of 8.4%.
The biogas market consists of sales of biogas by entities (organizations, sole traders, and partnerships) that are engaged in the production of biogas.Biogas is a form of biofuel that is created spontaneously when organic waste decomposes.
Biogas generation is also known as anaerobic digestion since it occurs in the absence of oxygen. It can be used for a range of purposes including automotive fuel, cooking, and power generation.
The main sources of biogas are municipal waste, industrial waste, agricultural waste, others.Anaerobic Digestion (AD) of the organic portion of municipal solid waste (OFMSW) creates biogas that can be used to generate energy, hence reducing waste that would otherwise be landfilled.
Biogas is used for residential, commercial, and industrial purposes. It is implemented in various areas such as power generation, heat generation, cogeneration, others.
Europe was the largest region in the biogas market in 2020.Asia Pacific is expected to record the fastest growth over the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The expansion of production facilities is a key trend gaining popularity in the biogas market.Major companies operating in the biogas sector are focusing on expanding their production facilities to meet the increasing demand for renewable energy and are replacing chemical fertilizers with recycled nutrients in the production of biogas.
For instance, in April 2020, Ductor, a Finnish-Swiss biotech company, is constructing three combined biofertilizer-biogas facilities in northern Poland.The facilities will generate renewable electricity and organic nitrogen fertilizer entirely from poultry waste, lowering greenhouse gas (GHG) pollution dramatically.
Two of the proposed facilities will have a 0.5MW installed capacity, while the third will have a 1MW capacity.
In January 2021, Total SE, a French oil and gas company that manufactures and sells gasoline, natural gas, and electricity acquired Fonroche Biogaz for an undisclosed amount.With this acquisition, Total SE becomes a major player in renewable gas in France and Europe and significantly strengthens its presence in the sector.
Fonroche Biogaz is a company within Groupe Fonroche that designs, builds, and operates anaerobic digestion (AD) plants in France.
The rising shift towards renewable sources of energy is expected to propel the growth of the biogas market in the coming years.Renewable energy, often known as clean energy, is derived from natural sources or procedures that are renewed regularly.
Biogas is also referred to as renewable natural gas produced by the breakdown of organic matter such as animal waste and food scraps.According to International Energy Agency (IEA) global energy review 2020, renewable energy is expected to be the fastest-growing energy source in the future.
In comparison to Q1 2019, global renewable energy usage in all industries rose by around 1.5% in Q1 2020 and estimated a 1% increase in the use of renewables by the end of 2020. Therefore, the shift toward renewable sources of energy drives the growth of the biogas market.
The countries covered in the biogas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06144629/?utm_source=GNW
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