An upcoming research report by Fairfield Market Research states that the global biogas power generation market is poised to gain prominence as climate change becomes a glaring reality. The growing demand for sustainable energy supply that is aligned with national and international climate control policies is expected to boost the market. Urgent need to find solutions to the environmental safety by replacing conventional sources of energy attract sizeable investments in the global biogas power generation market. According to World Biogas Association, using the true potential of biogas industry can help in reducing 4bn tonnes of CO2 annually.
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Changing Migratory Patterns Lead to High Demand for Energy in Urban Landscapes
The growing pressure on urban landscapes to accommodate migrants from rural areas in search for better economic opportunities has unpinned energy demand. Investments in biogas power generation is expected to have a multi-pronged benefit as it opens up job opportunities in the agricultural sector, thereby giving rural population different ways to improve standard living, and thus reducing the pressure of cities. The growth of the global biogas power generation market will be attributable to the changing policies within national frameworks to reduce the pressure on urban areas and conventional energy sources for commercial and residential spaces.
Global Biogas Power Generation Market to Grow as it Reduces Landfill Pressure
Government support to build a biogas network is expected to boost the global biogas power generation market. Wide adoption of biogas technologies to meet the UNSDG goals to reduce carbon emissions are expected to contribute to the market’s rise during the forecast period. As biogas power generation use wastes, agricultural residues, and novel crops, it also reduces the pressure on landfills thereby cutting down on uncontrolled methane gas emissions. Mindful disposal of waste to generate usable energy is expected to an important driver for the global market in the coming years.
Asia Pacific to Lead Global Biogas Power Generation Market with India and China
Asia Pacific is expected to lead the global biogas power generation market between 2021 and 2025. China and India are expected to be at the forefront governments are undertaking stringent initiatives to make a difference to the national emissions. For instance, in 2018 India generated on an average 1.45 lakh MT of waste per day, reports Ministry of New and Renewable Energy. Out of this only 53% was processed under Swachh Bharat Mission in Q1 2019. This indicates that there is about 47% scope to improve the waste collection method, which is expected to boost the regional market.
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Some of the key players operating in the global biogas power generation market are AB Energy SpA, BTS Biogas Srl, Air Liquide S.A., WELTEC Group, EnviTec Biogas AG, Future Biogas Limited, PlanET Biogas Global GmbH, Ameresco, Inc., and Quantum Green.
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