Biogas Plant Market Valuation USD 5.6 billion by 2032 | Green Energy Revolution
Sustainable Solutions: Market Insights into the Biogas Plant Industry
WILMINGTON, DELAWARE, UNITED STATES, May 10, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, The biogas plant market size was valued at $3.8 billion in 2022, and is estimated to reach $5.6 billion by 2032, growing at a CAGR of 4.3% from 2023 to 2032.
Some of the major players in the biogas plant industry include Ameresco, PlanET Biogas Group GmbH, Biofrigas Sweden AB (Publ), Gasum Ltd, EnviTec Biogas AG, Air Liquide, CH4 Biogas, IES BIOGAS srl, Wärtsilä and Renergon International AG.
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Asia-Pacific region held major share in terms of revenue and is anticipated to grow at a CAGR of 4.5% from 2023 to 2032. Several countries in the Asia-Pacific region are investing in the large and small biogas plant. China has the largest number of biogas plant which makes Asia-Pacific dominant in the global biogas plant market.
The Asia-Pacific biogas plant market is growing with the highest CAGR as several developing countries incline towards the green energy transition plans in rural areas.
Biogas plants have several advantages over traditional fossil fuels. They provide a source of renewable energy from waste materials, which helps to reduce greenhouse gas emissions and dependence on fossil fuels. They also help to reduce the amount of organic waste sent to landfills, which can produce methane emissions and contribute to climate change.
A biogas plant is a facility that generates biogas, a renewable energy source, from organic waste materials through a process called anaerobic digestion. Organic waste materials can include food waste, animal manure, agricultural waste, sewage sludge, and other organic materials.
Surge in awareness and promotion of using green energy solution are expected to drive the global biogas plant market size in the coming years.
Biogas plants are energy-saving, economical, safe, and eco-friendly which is expected to fuel biogas plant market growth in renewable power infrastructure projects.
Biogas is used to produce power at minimal cost which boosts the biogas plant market trends during the forecast period.
Government and higher authorities are amending waste management policies which is creating biogas plant market opportunities in forecast period.
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On the basis of type, the fixed-dome plant segment held the market share of more than 40% in 2022 in terms of revenue
On the basis of operation mode, the continuous flow filling segment held three-fourths market share in 2022 in terms of revenue
On the basis of plant size, the large size biogas segment held the market share above 65% in 2022 in terms of revenue
On the basis of feedstock type, the agriculture waste segment held the market share above 30% in 2022 in terms of revenue
On the basis of application, the electricity generation segment held half of the market share in 2022 in terms of revenue
On the basis of industry vertical, the energy and power segment held major market share in 2022 in terms of revenue
The process of anaerobic digestion involves breaking down organic matter in the absence of oxygen by microorganisms called methanogens. The resulting biogas is composed mainly of methane (CH4) and carbon dioxide (CO2), with small amounts of other gases such as hydrogen sulfide (H2S).
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The biogas generated from the plant can be used for various applications, such as generating electricity or heat, as a transportation fuel, or for cooking and lighting. The leftover material, called digestate, can be used as a fertilizer or soil amendment.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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