Biogas Market to Thrive from Massive Efforts of Policy Makers to Adopt Energy with Low Carbon Footprint, Biogas Production Technologies Need to Keep Pace: TMR
- Electricity and heat is the key application segment in the biogas market, adoption of cleaner fuels underpinned by stringent implementation of norms for reducing carbon footprint spur prospects
- Europe held the leading share in biogas market in 2018, Efforts of regulators to promote low carbon economy are boosting adoption of natural gas vehicles
Oct 26, 2020, 11:30 ET
ALBANY, N.Y., Oct. 26, 2020 /PRNewswire/ -- Rising demand for clean energy fuels has spurred the strides in the biogas market. The governments have played an active role in the evolution of the market. Policies and regulations that promote low-carbon economy are the huge undercurrent for the technological advances in the biogas market.
Globally, the biogas market is expected to reach worth of 51,581.99 kilo tons of oil equivalent (KTOE) by the end of 2027, clocking CAGR of 6.62% during 2019 – 2027.
Request for Covid-19 Impact Analysis on Biogas Market: https://www.transparencymarketresearch.com/Covid19.php
Some of the key applications of biogas are in space heating, powering vehicles, cooking, and production of heat and electricity. TMR analysts assert that biogas production technologies are likely to keep pace bolstering the adoption rate of biogas as renewable energy source.
Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php
Key Findings of Biogas Market Report
- In 2018, the global valuation of the biogas market was pegged at 28,989.86 kilo tons of oil equivalent (KTOE)
- Of the various key applications, electricity and heath accounted for sizable share in the market
- The aforementioned segment is forecast to rise at promising growth rate during the forecast period
- Europe and North America expected to present sizable revenues to the global market during the 2019 – 2027
- Asia Pacific is expected to be next source of massive investments
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/5630
Biogas Market: Key Driving Factors and Promising Avenues
- Worldwide, there is a significant shift toward increasing the share of renewable energy in the overall energy mix. The trend has spurred the evolution of the biogas market.
- Stringent implementation of regulations pertaining to reduction of carbon footprints of various industries has also boosted the adoption of biogas as a renewable source.
- Demand for alternative energy source in the transportation sector has boosted the prospects of biogas. The demand has gathered strength on the back of focus of governments to reduce the dependence on fossil fuels.
- Expected influx of natural gas vehicles in developed parts of the world is expected to boost the biogas market.
- Energy security concerns have been attracted attention of international policies. These are expected to favorably impact the evolution of the demand in the biogas market.
- Advances being made in biogas production technologies are unlocking new prospects in the biogas market.
- Efforts made by non-profit organizations and federal governments in promoting renewable fuels in various applications have also spurred the revenue potential.
Purchase Premium Research Report on Biogas Market @ https://www.transparencymarketresearch.com/checkout.php
Biogas Market: Competitive Assessment
The biogas market is gathering momentum from growing number of mergers, acquisitions, and contracts. Top players are leaning on improving the biogas production infrastructure considerably. Numerous companies in the biogas market are focused on adopting state-of-the art technologies for extraction of energy from agriculture waste.
Some of the aspiring players in the global biogas market are Biofrigas Sweden AB, Cryostar SAS, Wärtsilä Corp., EnviTec Biogas AG, Scandinavian Biogas Fuels, Air Liquide Advanced Business & Technologies, Swedish Biogas, Vanzetti Engineering S.r.l., and Cryonorm BV.
Biogas Market: Regional Assessment
Geographically, Europe held the leading share in the biogas market in 2018. Various countries in the region have pledged to lower the GHG emissions by 2050 by 80 – 95%. This will fuel the investment avenue in the biogas market. Also, the regional market has seen thriving opportunities from the strict implementation of the energy norms. A case in point is Energy Roadmap 2050.
Advances in biomethane production units have also boosted the regional market prospect.
Browse More Press Releases: https://www.transparencymarketresearch.com/press-releases.htm
The Biogas Market has been segmented as follows:
Global Biogas Market, by Application
- Electricity & Heat
- Vehicle Fuel
Global Biogas Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of World
Browse Latest Reports by TMR: https://www.transparencymarketresearch.com/latest.htm
Explore Transparency Market Research's award-winning coverage of the global Energy & Natural Resources Industry,
Oil Storage Market - Based on storage type, the floating roof tanks segment dominated the global oil storage market in 2019. Floating roof tanks are widely preferred for oil storage across the globe. These tanks can be customized according to requirements. The segment is also anticipated to be highly attractive during the forecast period. In terms of product type, the crude oil segment dominated the global oil storage market in 2019. The demand for crude oil is rising across the globe, owing to high consumption of petroleum products in various end-use industries.
U.S. Bunker Fuel Market - The bunker fuel market in the U.S. was valued at US$ 7.8 Bn in 2019 and is anticipated to expand at a CAGR of ~1% during the forecast period. Based on fuel grade, the IFO 380 segment held dominant share of the bunker fuel market in the U.S. in 2019, as IFO 380 is a widely used bunker fuel by fleet owners due to its lower price than other types of fuels. In terms of seller type, the leading independent distributors segment accounted for dominant share of the bunker fuel market in the U.S. in 2019. Leading independent distributors have well-established setup that includes blending facility, storage terminals, and own physical assets. Based on application, the tanker fleet segment constituted prominent share of the bunker fuel market in the U.S. in 2019, due to rise in demand for crude oil, petroleum products, chemicals, and liquid raw materials in various regions.
Marine Hybrid & Full Electric Propulsion Market - In terms of value, the global marine hybrid & full electric propulsion market is expected to reach US$ 7.8 Bn by 2030, expanding at a CAGR of ~9% during the forecast period. Based on volume, the global marine hybrid & full electric propulsion market is estimated to reach 975 units by 2030, expanding at a CAGR of ~9% during the forecast period. Based on propulsion, the hybrid propulsion segment dominated the global marine hybrid & full electric propulsion market in 2019. The segment was valued at US$ 2,857.9 Mn in 2019 and is expected to create an incremental opportunity of US$ 4,434.3 Mn during the forecast period. This can be ascribed to the increase in incorporation of hybrid propulsion systems in old as well as new marine vessels. In terms of end use, the ferries segment held a significant share of the global marine hybrid & full electric propulsion market in 2019. It is likely to continue its dominance during the forecast period. Market share of the segment is anticipated to rise to 33.36% by 2030. Demand for ferries is high across the world, as they can carry passengers as well as vehicles.
Fuel Dispenser Market - In terms of value, the global fuel dispenser market is expected to reach ~US$ 2 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. Based on volume, the global fuel dispenser market is estimated to reach 662,058 units by 2030, expanding at a CAGR of ~4% during the forecast period. In terms of type, the submersible system segment holds leading share of the global fuel dispenser market, submersible systems are cheaper and easily available vis-à-vis suction systems. Their maintenance cost is also lower than that of suction systems. The submersible system segment is expected to create an incremental opportunity of US$ 473.16 Mn between 2020 and 2030. Based on flow meter segment, the electronic flow meter held larger share of the global fuel dispenser market in 2019. The segment is likely to expand at a CAGR of 4.50% during the forecast period. In terms of fuel type, the petrol/gasoline segment accounted for major share of the global fuel dispenser market in 2019.
Explore More Upcoming Reports: https://www.transparencymarketresearch.com/upcoming.htm
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/biogas-market.htm
SOURCE Transparency Market Research
Share this article