Prominent market trends identified in the global biogas market include mergers and acquisitions between market players, and technology transfer by major companies to sustain or strengthen their market share. A number of these activities are supported by governments in order to reduce dependency on conventional energy sources and to reduce the threat from global warming and harmful effects of greenhouse gases.
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Biogas is produced by anaerobic fermentation of biodegradable materials or by the action of anaerobic organisms (bacteria) on organic matter. Mostly, the gas is produced by decomposing municipal waste, plant materials, food waste, and manure. In this process, organic matter is biologically broken down in the presence of oxygen. Anaerobic fermentation allows manufacturers to convert unwanted gases such as nitrous oxide and methane into biogas. The gas is a mixture of approximately 50–70% methane and 30–40% carbon dioxide. The biogas market is segmented on the basis of application and geography.
The biogas market is driven by factors like high amount of carbon and greenhouse gas emissions from conventional energy sources, rapid growth in demand for energy sources, depleting conventional sources, and volatile crude oil prices.
Power generation and automobiles are the foremost sectors where most of the energy being used. Additionally, these sectors emit a large volume of greenhouse gases. The high-volume emission levels have led governments to develop favorable regulatory policies toward incentivizing adoption of greener fuels while reducing the dependency on fossil fuels. Across the globe, governments are giving subsidies to encourage the production of biogas and in response to it, many companies are venturing into this growing market and setting up new plants. All these factors are anticipated to contribute to growth of the biogas market.
On the basis of application, the biogas market is classified into power generation, domestic fuel, and vehicle fuel. Among these, power generation category holds the significant share in the market.
On the basis of region, the biogas market is categorized into APAC, North America, Latin America (LATAM), Europe, and Middle East and Africa (MEA). Europe is expected to hold significant share in the market during the forecasted period. Several European countries work together in the European Biogas Association, whose directives are to curb carbon emissions. Major biogas producing countries in the region are Germany, Italy, France, and Switzerland. Furthermore, other countries such as Belgium, Slovakia, Hungary, and Czech Republic are strengthening their production levels for biogas. The rapid industrial growth along with increasing importance of renewable power generation in China and India is expected to increase the demand for the gas in APAC region.
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