As the global economy recovers in 2021 and the supply of the industrial chain improves, the biogas market will undergo major changes. The biogas market is expected to register a more than 4.5% CAGR during the forecast period (2022-2027), from 20.61 GW in 2020 to 28.32 GW in 2027. The COVID-19 outbreak in Q1 2020 hampered the biogas market. For instance, much of the groundwork was stopped for Mount Everest Biogas Project in Nepal during the outbreak. Further, due to COVID-19, India will likely miss its target of 15 million biogas production by 2023. The biogas market is primarily driven by rising electricity demand and the growing focus on alternative fuels to achieve an imperishable form of energy and security. However, a lack of awareness and understanding about biogas as a source of energy in the general public is likely to hinder the market growth.
The global biogas industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.
The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global biogas market during the next few years. The global biogas market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.
The biogas market can be split based on product types, major applications, and important regions as follows:
EnviTec Biogas AG
AEV Energy GmbH