Growing biogas demand among industrial processors, municipalities, and farmers to meet required energy demand is expected to fuel the market growth over the next seven years. Depleting oil reserves coupled with uncertainty in crude oil prices is further anticipated to drive biogas market over the forecast period. Shift in trend towards usage of renewable energy sources as an alternative to conventional resources is anticipated to further strengthen the global market growth. Increasing consumer awareness regarding environmental issues and greenhouse gases is anticipated to have a positive impact on biogas market over the foreseeable period. Government regulations and policies favoring renewable energy generation are expected to further complement the global market growth over the next seven years. Increasing biogas market penetration in cogeneration and transportation applications is anticipated to fuel biogas demand over the foreseeable future.
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Europe is the dominant regional market and is expected to experience rapid growth over the forecast period. Stringent legislative framework by European Commission to reduce carbon dioxide emissions is expected to be a key factor driving the market in this region. Major biogas production nations in the region include Germany, Italy, Switzerland and France. Growing importance for biogas production in Eastern Europe nations such as Romania, Bulgaria, Slovakia and Latvia is expected to further strengthen the European market growth. Increasing importance of renewable resources over conventional sources of energy coupled with rapid industrialization in China and India is expected to fuel the market growth in Asia...