BCC Research publishes new biogas report
By Press release
By Press release
March 5, 2014 – According to a new technical market research report Biogas Upgrading: Technologies and Global Markets, from BCC Research, the global market for biogas upgrading equipment is estimated at $198.7 million for 2013.
BCC Research expects the market to grow to $442.4 million by 2018, and register a five-year compound annual growth rate of 17.4 percent from 2013 to 2018.
In the U.S. Energy Information Administration’s (EIA) International Energy Outlook 2013, total world consumption of marketed energy is predicted to increase by 56 percent between 2010 and 2040. Renewable energy and nuclear power are the world’s fastest-growing energy sources, each increasing by 2.5 percent per year. In recent years, the world market for biogas plants and AD equipment has increased at a rate of 20 to 30 percent annually, depending on the country. Recently, however, growth rates have slowed as countries, notably Germany, find subsidies for biogas production too expensive.
Legislation and the desire to cut greenhouse gas emissions (GHGs) are the most important drivers for biogas plant construction. Kyoto Protocol requirements and specifications of the EU Renewable Energy Directive (RED) are two examples of this type of legislation. Energy security, the desire to draw on domestic fuel resources, and elimination of the expense and price volatility of imported fossil fuel also encourage interest in biogas. Worldwide, the majority of countries have targets for renewable energy production, GHG mitigation or laws related to minimizing harmful landfill emissions.
Renewable, sustainable energy generation will be the fastest-growing energy sector over the next two decades. Price volatility, supply concerns and the environmental aspects of fossil fuels are expected to accelerate the pace of all non-fossil fuel development.