Growth of biogas as a substitute and green energy source

Market - Mohit Shah - May 22,2017

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growth of biogas as a substitute and green energy source

The global biogas market is expected to soar with a CAGR of 6.5% during 2016-2026; energy crisis and need for green energy source are seen as a primary issue.

Presently, energy crisis is an emerging issue and the whole world is struggling to find a suitable environment-friendly energy source for its vast population. The global energy market is on a boom due to the soaring demand which is currently greeted with the help of fossil fuel. However, there is an urgent requirement for an alternate source (environment-friendly energy), so as to lessen the stress on the non-renewable fossil fuels. Hence, the growth of biogas as a suitable green energy source is becoming the hope for the modernized world.

According to a precise industry report published on Market Research Reports Search Engine (MRRSE), the market for biogas will witness positive growth at a CAGR of 6.5% during forecast period 2016 –2026.

The regions of Latin America and Asia Pacific are anticipated to play a crucial part in the growth of the global biogas market in the near future. Moreover, North America and Western Europe successfully ruled the sector until the end of 2016. Further, the Asia Pacific region is predicted to drive its growth within the next few years, owing to increasing demand for electricity and vehicle fuels in the region.

 According to statistics, North America is projected to gain 200 BPS by the end of 2026; however, Western Europe would be highlighting higher figures at 230 BPS to emerge as the dominant region. The prominent players from the active biogas market in today’s time include names like Air Liquide, EnviTech Biogas AG, Wartsila, Asia Biogas, SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB, Swedish Biogas International AB, Schmack Biogas GmbH, S. P. Renewable Energy Source Pvt. Ltd and Greenlane Biogas. 


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