The Biogas Market is being driven by Increased generation of municipal solid waste
The Biogas Market is expected to grow at a CAGR of 5.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 19734.3 million. Biogas is a renewable energy source generated through the anaerobic digestion of organic materials. This process yields biogas, primarily composed of methane and CO2, which can be utilized for power generation and heating applications. Alternatively, biogas can undergo upgrading to bio-methane, a substitute for natural gas, suitable for powering vehicles. Notably, the Dane County Landfill system in the US, with a capacity of 250 gallons of compressed natural gas (CNG), is a prime example of biogas utilization. By adopting biogas as a fuel source, this project aims to reduce dependence on conventional fossil fuels and promote sustainable transportation.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Co-generation, Power generation, Heat in buildings, Upgraded to biomethane) Source (Agricultural waste, Landfill, Others) Geography (North America, APAC, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Biogas Market Research Report
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In the realm of sustainable energy, Biogas Market holds significance as it focuses on producing Methane gas from Biodigesters, using municipal bio-waste, plastics, and agricultural feedstocks. This process, known as Anaerobic Digestion, benefits rural communities by providing Liquefied Petroleum Gas for cooking and vehicle fuel. Public authorities and private sector investors collaborate, transforming Carbon Dioxide into Electricity application segment via upgraded Biogas. Renewable energy sources replace Fossil fuels, reducing Greenhouse gas emissions and mitigating Climate change. Circular economy principles are upheld as waste becomes valuable feedstock. Humidity and temperature control are crucial for optimal performance. Biogas plants generate Electric power sector revenue, while Financial aid and technology advancements foster growth.
The biogas market is a segment of the larger global renewable electricity market, encompassing businesses involved in the production and distribution of biomethane. Key players include rural communities, public authorities, and private sector investors. The market size includes revenues from independent power producers, gas and power marketing specialists, integrated energy merchants, and equipment manufacturers, particularly those supplying materials for anaerobic digestion processes. Market expansion will be fueled by supportive policies and targets for renewable energy deployment, as well as the potential utilization of municipal bio-waste and plastics as feedstocks for biogas production. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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