Global Waste Derived Biogas Market is Expected to Witness Substantial Growth by 2024
Global waste derived biogas market is expected to witness substantial growth over the forecast period on account of the increasing awareness for environmental safety and surplus use of fuels.
Global Waste Derived Biogas Market is expected to witness substantial growth over the forecast period on account of the increasing awareness for environmental safety and surplus use of fuels. Furthermore, the depletion of fossil fuels has led to the search of ways for the new source of energy. Fossil fuels consumption is growing at alarming rate owing to the development of technology generating biogas from wastes of sectors such as agricultural waste, industrial waste, and sewage. The rising carbon footprint and global warming have led to the awareness amongst the population to switch to other sources of energy and power generating technologies. Furthermore, the crude oil prices are rising leading to creating awareness amongst consumers to search for an alternative source of energy, decreasing the effects of global warming on the environment.
Biogas production is a simple anaerobic digestion process where the anaerobic organisms digest all the organic material in a closed system. Biogas configuration depends on the anaerobic process of digestion. The digestion process takes the time to produce but is much more environment-friendly. Biogas is a renewable source of energy and accounts to less carbon footprint than the use of fossil fuels. Biogas is considered to be as clean fuel owing to which people are switching to biogas production and consumption. Renewable and sustainable energy generation are expected to be the fastest growing market in the forecast period owing to the overuse of fossil fuels and increasing awareness towards environmental protection.
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The waste-derived biogas market is classified on the basis of application into, municipal electricity production, on-site electricity production, and transportation fuels. The market is further classified on the basis of type into, sewage, industrial waste water, agricultural waste and landfill gas. The biogas production market is a niche market and has limited application. Biogas produced from a large amount of waste is very less and can be used in on-site applications. Biogas energy also can be used as a transportation fuel for small distances. Biogas from pig manure and other organic waste materials is converted into compressed biofuel which has a huge application in the transportation sector. Furthermore, electricity produced by biogas derived from waste can be used for space heating, cooking, water heating, process heating and CHP engines.
There are a substantial amount of regulations and legislations regarding waste management and landfill sites as they some processes are harmful and increase carbon footprint. Landfill Directives by the European Union is one of such legislation regarding landfill sites and treatment of gas emitted by them. United States has legislated against landfill gas as they emit volatile organic compounds (VOCs) some of which are harmful to environment and human beings. There is a tariff period for power plants using renewable energy sources as there are considerable long-term effects on the environment and natural well-being of the planet.
North America market is expected to grow owing to the numerous projects that have been undertaken by the Governments such as U.S. Government. The market is anticipated to grow and contribute to the fuel market over 1% of total natural gas production. Furthermore, use of cow manure to produce electricity in U.S. is estimated to generate enough power to supply millions of houses in U.S. Waste derived biogas market in Europe is expected to witness a sluggish growth as some countries like Germany, Sweden and Austria are fairly ahead in the use of biogas while other European countries are behind owing to legal frameworks and availability of technology. The Asia-Pacific market is anticipated to grow eventually in the forecast period owing to the awareness of energy security in rural as well as urban areas. Technological advancements and biogas production projects are expected to experience an upward trend as the Governments are taking initiatives. Indian Subcontinent is expected to witness growth on account of increasing awareness among people and governments towards rural energy security.
The prominent contributors to the waste derived biogas market are AAT GmbH & Co., Bedminster International, Cargill Inc., Environmental Energy Engineering Co., ADI Systems Inc., Biotech Energy AG, Environmental Products & Technology Corp., Siemens AG, Bekon Biogas Energy Inc., Biogen Greenfinch, Chevron Energy Solutions, Biogas Technology Ltd., General Electric Co., and Waste Energy Solutions LLC.
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