The global biogas plant market will chart significant growth over the period 2016 – 2022 owing to factors such as robust government support and a favorable regulatory framework, among many others. The steady CAGR (Compound Annual Growth Rate) will lead to an upward growth trajectory, thereby generating valuable opportunities of growth for players to tap into.
It is important to note here that the global biogas plant market is slightly fragmented and prominent names in the market include Ameresco, Inc., PlanET Biogas Global GmbH, Scandinavian Biogas, Biofrigas Sweden AB, Swedish Biogas International, EnviTec Biogas AG, Air Liquide, among others.
The Green Energy Push for Sustainable Living to Drive Global Biogas Plant Market Ahead
Biogas is reducing our dependence on fossil fuels which are limited in terms of availability. Thus, it comes as no surprise that dwindling oil reserves are contributing positively to the growth of biogas plant market. And, it is worth noting here that it is considered a viable alternative for more than just its easy availability. Having a low, carbon footprint, biogas is a green fuel and thus quite in demand. Besides, as awareness regarding global warming catches up with more and more people like wildfire, the demand for biogas will only see a steeper, upward curve over the forecast period.
It is also worth noting here, that there is a considerable move towards fueling transport vehicles with biogas and many nations have taken the lead such as France which has cities like Lille, using biogas fuel for 25 years now. Norway, Finland, Sweden, Estonia and Lithuania are all quickly moving over the fuel alternative.
This demand for biogas for use as fuel, source of energy, will lead to increase in demand for biogas plants between 2016 and 2022.
Asia Pacific Region to dominate the Global Biogas Plant Market Landscape
The Asia Pacific (APAC) region will witness significant growth over the forecast period owing to a number of factors such as increase in feedstock waste, other organic waste produced by household, and increase in government support to reduce imports and thus save valuable currency.
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Other region that will show good growth statistics is Europe. The region is experiencing stringent emission norms which is not surprising considering the region is at the brunt of climate change. This is driving biogas consumption significantly, thereby propelling the global biogas plant market upward.