The sources of green and renewable energy are increasingly discussed, planned and developed, as nations are considering the threat of global warming and harmful effects of greenhouse gases. Due to this, biogas has become priority in the energy generation mix for most of the countries in Europe, followed by North America and Asia-Pacific, in order to reduce their dependency on the conventional energy sources. Greenhouse gases and its destructive effect on environment, are contributing to the growth of the biogas market. The depleting oil reserve and uncertainty in crude oil prices is further anticipated to drive the growth of the global market. Across the globe, the governments are giving incentives to encourage biogas production. Owing to these reasons, the companies are venturing in to growing sector of biogas, and setting up new biogas plants. The growth restraining factor for the biogas market includes high capital expenditure, which is required to set up a biogas plant. The companies are involved in mergers and acquisition, technology transfer, in order to sustain their position in the market and strengthen their market share.
To Browse Full Report Visit Here: https://www.psmarketresearch.com/market-analysis/biogas-market
Biogas is produced by anaerobic digestion with anaerobic organism. In this process, an organic matter is biologically broken down, in the absence of oxygen. Biogas is a mix of approximately 50%-70% methane, and 30%-40% carbon di-oxide. Biogas is produced by decomposing municipal waste, plant materials, food waste and plant materials. Biogas can be used in electricity generation, transportation sector, and other household activities, such as cooking and heating. It can be compressed in the same manner, as natural gas is compressed and used as fuel in vehicle. As the number of vehicles across the globe are increasing, the use of biogas as fuel will also increase, which will boost its demand.
The key players in the biogas market...