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.
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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.
Browse
Press Release :
http://www.transparencymarketresearch.com/pressrelease/biogas-market.htm
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