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Biogas Market to Reach USD 31.69 Billion by 2027; Growing Cognizance of Resourceful Methane Gas to Augment Growth, sates Fortune Business Insights™

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Pune, Sept. 29, 2020 (GLOBE NEWSWIRE) — The global biogas market size is expected to reach USD 31.69 billion by 2027, exhibiting a CAGR of 5.30% during the forecast period. The rising environmental safety concerns are expected to propel the healthy growth of the market, states Fortune Business Insights, in a report, titled “Biogas Market Size, Share & COVID-19 Impact Analysis, By Feedstock (Organic Residue & Wastes {Biowaste, Municipal & Sewage, Agricultural Waste, and Others}, and Energy Crops), By Application (Power Generation, Heating, Combined Heat and Power, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 25.50 billion in 2019.The coronavirus crisis has disrupted the supply chain of every industry around the world. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic. Click here to get the short-term and long-term impact of COVID-19 on this Market.
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The report on the biogas market contains:Future insights into the marketIn-depth study of the regionsProduct and brand strategiesFactors enabling market growthCompetitive landscapeCOVID-19 impactMarket Driver:Heavy Demand for Purified Biomethane Version to Bolster GrowthThe growing inclination towards biogas with an aim to reduce dependence on oil and maintain sustainability can have an excellent effect on the market. The growing knowledge about the high-energy methane gas, which is an upgraded version of biogas will spur opportunities for the market during the forecast period. For instance, Purified biomethane has similar properties as natural gas and also acts as a highly efficient and environmental-friendly fuel for natural gas cars, or natural gas grid. According to the International Renewable Energy Agency (IRENA), biogas as vehicle fuel can reduce greenhouse gas emissions by about 60% to 80% compared to fossil-based fuels. Also, the shift from conventional fossil fuel to biogas owing to the rising global and environmental problems will bode well for the market.
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Unavailability of Raw Materials to Retard Development During COVID-19There is a halt on bioenergy projects owing to the restrictions imposed on travel, work, industrial operations, and logistics & transportation. Moreover, the unavailability of raw materials, components, and technical support has adversely impacted the market. In March 2020, construction on the Tees Renewable Energy Plant (Tees REP), a 299 MW biomass power plant in the U.K., was suspended due to the COVID-19 pandemic. The social distancing protocols formed by the governments has resulted in the fewer workforce, thus diminishing the production and operations during the pandemic.Regional Analysis:Implementation of Stringent Policies to Aid Expansion in Asia PacificThe market in Asia Pacific is predicted to witness a significant growth rate during the forecast period. The implementation of strict regulations to curb carbon footprint by the government in economies such as China and India will enable speedy expansion of the market in the region. According to the Indian ministry, the country generated approximately 1.45 lakh metric tonnes waste per day, only 53 percent of waste was processed under the Swachh Bharat Mission (SBM), a flagship program of the Prime Minister. The growing emphasis on managing and treating solid waste will have a positive effect on the market in India.
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Key Industry Development:October 2019: Mazoon Dairy Company (MDC) inaugurated a biogas plant in Oman. The biogas plant is part of MDC’s strategy to utilize waste to generate energy and efficiently support waste management.List of the leading companies profiled in the biogas market:Future Biogas Limited (U.K)Air Liquide (France)PlanET Biogas Global GmbH (Germany)WELTEC BIOPOWER GmbH (Germany)Scandinavian Biogas Fuels International AB (Sweden)EnviTec Biogas AG (Germany)Ameresco (U.S.)Quantum Green (India)AB HOLDING SPA (Italy)RENERGON International AG (Switzerland)StormFisher (Canada)
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Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Emerging Trends – For Major CountriesLatest Technological AdvancementRegulatory LandscapePorters Five Forces AnalysisQualitative Analysis – Impact of COVID-19Impact of COVID-19 on the Biogas MarketSteps Taken by the Government to Overcome the ImpactKey Developments in the Industry in Response to COVID-19Potential Opportunities and Challenges due to COVID-19 OutbreakGlobal Biogas Market Analysis (USD Billion) (Million Cubic Meter), Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By FeedstockOrganic Residue & WastesBiowaste, Municipal, SewageAgricultural WasteOthersEnergy CropsMarket Analysis, Insights and Forecast – By ApplicationElectricity GenerationHeatingCombine Heat & PowerOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificMiddle East & AfricaLatin America
Continued…….
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About us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
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