US $ 27.36 Billion Biogas Power Plant Market Size by 2028 – Reports and Data
New and improved technologies, government financial support, the scope of large-scale application are likely to stimulate demand
NEW YORK, NY, UNITED STATES, October 26, 2021 /EINPresswire.com/ — The Biogas Power Plant Market is expected to increase from $ 17.72 billion in 2020 to $ 27.36 billion by 2028, with a CAGR of 5.63%. The market should be driven by increasingly stronger support from public authorities and private organizations to owners of biogas plants in terms of financial incentives and the favorable nature of the regulations put in place.
The market is also driven by the purely positive air surrounding the establishment of successful biogas plants in terms of reducing the volume of waste going to landfill and thus becoming a strong and environmentally friendly alternative fuel source.
However, the lack of implementation of processes and equipment to create a workable waste sorting system is stifling the current growth rate. This restricts the overall supply of raw materials to biogas plants, preventing the emergence of several new entrants in the competitive landscape.
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The main players in the market are Agrinz Technologies GmbH (Austria), Scandinavian Biogas (Sweden), Beijing Sanyi Green Energy Development (China), Biofrigas Sweden AB (Sweden), IES BIOGAS (Italy), PlanET Biogas Global GmbH (Germany), CEZ Group (Czech Republic), Hangzhou Environmental Group (China), Wartsila (Finland), EnviTec Biogas AG (Germany) and others.
Other key findings from the report suggest
• The biogas power plant market is expected to grow from USD 17.72 billion in 2020 to USD 27.36 billion by 2028, at a CAGR of 5.63%. The market should be driven by increasingly stronger support from public authorities and private organizations to owners of biogas plants in terms of financial incentives and the favorable nature of the regulations put in place.
• On the basis of type, the livestock farming market is expected to hold the largest market and is expected to reach USD 8.74 billion in 2028, at a CAGR of 5.9% during the forecast period. This is mainly due to the support of the Ministry of Agriculture and the growing demand for agricultural land to install a biogas power plant in Europe and Asia-Pacific.
• On the basis of end users, the commercial electricity segment is expected to hold the largest market and is expected to reach USD 13.32 billion in 2028, with a share CAGR of 15.63% during the forecast period. The waste from the biogas plant is used as organic fertilizer / fertilizer directly or after drying to improve soil fertility and reduce the use of chemical fertilizers. It is also non-polluting as it is free from weeds, foul odor, and pathogens.
• On the basis of distribution, the indirect channel is expected to hold larger market share and is expected to experience the highest growth with a CAGR of 11.1% during the forecast period. In the event that the point of consumption is relatively close (eg less than 1 mile) from the point of production, the gas would generally be distributed via dedicated pipelines (underground or above ground). This is generally the most cost effective method for short distances on private property where easements are not required. The costs of laying dedicated pipelines can vary widely per mile. Note that gas distributed via dedicated biomethane pipelines must compete with natural gas prices on the market.
• Europe is expected to experience the strongest growth and is expected to reach USD 9.02 billion in 2028, at a CAGR of 5.9% in the forecast year and is expected to maintain its dominance over the forecast period . In Europe, there is a strong development of on-farm and centralized biogas plants and landfills to recover biogas in power generation. Most of the biogas plants were built in Germany in Europe.
The electricity and energy sector includes key companies operating in the fuel, oil, natural gas and nuclear energy markets. The constant production of energy and electricity is imperative for the economic growth of the country. It also covers exploration and production of oil and gas reserves, oil and gas drilling, and refining industries. The electricity and energy sector is one of the most diverse sectors in the world. Rapid industrialization and urbanization have increased dependence on electricity and energy and industries today consume large amounts of fuel, making the energy industry a crucial part of today’s industrial infrastructure.
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This report forecasts volume and revenue growth at the global, regional and country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, the reports and data segmented the market on the basis of type, end users, distribution, and regional analysis.
Type (GwH; and Revenue, USD Million: 2020-2028)
• Livestock farms
• Industrial wastewater
• Municipal wastewater
End Users (GwH; and Revenue, USD Million: 2020-2028)
• Domestic electricity
• Commercial electricity
Distribution (GwH; and Revenue, USD Million: 2020-2028)
The regional analysis covers:
North America (United States, Canada, Mexico)
Europe (UK, Italy, Germany, France, rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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