According to Accurize Market Research report, waste-evolved biogas market is projected to reach $21 billion by 2025; growing at a CAGR of 10.7% from 2017 to 2025. Considered to be an eco-friendly product, it is a mixture of various gases produced from the breakdown of organic mass agricultural waste, manure, municipal waste, plant material, sewage, green waste or food waste. Produced under anaerobic conditions the major component of biogas is methane (55-70%), CO2 (30-45%) with a slight quantity of gases such as H2S and ammonia.
Renewable source of energy, biogas recompenses the environment as well as the industries. Waste derived Biogas is a green energy source in form of electricity and heat for the local network. It is equally virtuous for the ecosystem due to the lesser emission of the greenhouse gasses such as methane, CO2 and nitrous oxide. Furthermore, the government’s strict emission regulations have also inspired the market growth.
High initial investment for the manufacturing is one of the restraints of the global biogas market. However, the rising need for renewable energy resources due to decreasing fossil fuel resources coupled with increasing population would provide worthwhile prospects to the market.
The waste-evolved biogas market is mainly classified on the basis of material type segment, industrial vertical segment and regional outlook. Material type segment includes sewage, landfill gas, agricultural waste, and industrial wastewater. By industrial type, the market is segmented into on-site electricity production, transportation fuel, and municipal electricity production.
North America, Europe, Asia-Pacific and Rest of the World (RoW) are few among many continents players are eyeing for their expansion.
Material type segment
Industrial vertical segment