Friday 4 December 2015

Driven By Technological Advancements and Increased Adoption, Global Biogas Market Exhibits Upward Growth Trajectory

As the world economy continues to expand, industrialization speeds up across newer corners of the globe, and the aspirations of countries rise with improving GDPs, rising disposable incomes and mounting population, the demand for energy is also rising at an alarming speed. Given adequate research and development support, the sector of renewable energy technologies can meet much of the growing energy demand, and that too, at prices lower as compared to those of conventional energy.

In-depth research report on Biogas Market with Full TOC at : http://www.transparencymarketresearch.com/biogas-market.html

The market for renewable energy sources such as biogas market, solar power, wind and water power, etc., is increasingly gaining traction on a global level. What seems to drive the demand for these sources are the hordes of environmental and other benefits provided by renewable energy, with key ones being social and economic development due to non-reliance on foreign energy sources, land restoration, reduced air pollution owing to comparatively lesser emissions, abatement of global warming, and fuel supply diversity. All these benefits combined with the price-effective nature of renewable energy sources makes renewable energy a highly promising field of energy production.

Government Initiatives Improve Adoption Rates of Biogas

Biogas is an important member of the set of the several renewable energy sources that have gained huge attention and have been discussed and developed aggressively over the past few years. A recent market research report published by Transparency Market Research (TMR) states that the global biogas market generated 22,488.0 KTOE energy in 2014. Projected to expand at a 6.5% CAGR between 2015 and 2023, the market is expected to breach 39,845.5 KTOE energy generation capacity by 2023. The report credits factors such as the rising concern about the effect of greenhouse gas emissions on climate and increased efforts taken by government bodies for encouraging the usage of biogas on a global level.

Being a cleaner source of energy as compared to many petroleum-based fuels, biogas finds applications in the fields of cooking, transportation, and generation of heat and electricity. Biogas is produced from sources such as bio-based waste from landfills, waste water treatment, municipal waste, and agricultural waste.


Growth Prospects Augmented by Technological Advancements

The positive outlook for biogas is largely owing to the impressive technical advancements made during the past many years. The market for biogas has benefitted from developments in the fields of material sciences, biotechnology, electronics, and in other areas. Technologically advanced biogas production mechanisms and equally competitive usage mediums, such as biogas-enabled vehicle engines, are paving the way to the improved and efficient adoption of biogas across a constantly rising set of applications.

Many countries across the globe, including Sweden, Germany, China, Thailand, India, and Malaysia are aggressively developing their natural gas infrastructure for the improved usage of vehicles running on biogas. Germany already boasts a substantial share of biogas in its overall energy mix and has a large number of operational biogas plants. Many European countries, including France and the U.K., are switching to biogas-enabled vehicles with a vision of reducing emission of greenhouse gases from the transport industry.


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