Biogas Plant Market Trends

Growth Drivers

• Surge in Urban Population - Around 4.4 billion people, or 56% of the world's population, reside in cities. By 2050, approximately 7 out of 10 people would live in cities, with the urban population predicted to more than double its current level. Over the past few years, population growth, migration from rural to urban regions, and increased waste production have all contributed to a spike in energy demand. This would surely necessitate increasing waste treatment capacity, which would fuel biogas plant market expansion.
• Growing Demand for Biogas - The comparable energy content of the world's biogas production in 2020 was about 2 exajoules. In contrast, approximately 0.28 exajoules of biogas were produced in 2000. Additionally, in Kenya, biogas was utilized for cooking by about 89 thousand individuals as of 2018. The number grew from approximately 79 thousand the year prior.
• Rise in Emission of Greenhouse Gases - In 2021, the amount of carbon dioxide released into the atmosphere by industry and fossil fuels grew globally by about 4% to a record-breaking approximately 36 billion metric tonnes (GtCO2).
• Supporting Policies of Government for Waste Management - The Indian government started a program to create energy from trash and leftovers from urban, industrial, and agricultural sources. The program's goal is to assist in the establishment of Waste to Energy projects for the production of Syngas, Biogas, BioCNG, Electricity, and Producer from municipal, industrial, and agricultural wastes and residues.
• Upsurge in Investment in Biogas - Renewable Energy India Expo 2022 has received a pledge of investment worth about USD 15 Billion, according to the Indian Biogas Association (IBA), a business organization made up of biogas plant operators, manufacturers, and planners.

Challenges

• High Investment in Order to Establish Plant - The amount of funds needed to determine construction expenses is very significant. A plant's construction costs cover labor, land, materials, engineering, and equipment. Numerous countries throughout the world have contributed financially to the construction of these institutions. The supply chain is also expensive and time-consuming since it involves gathering, sorting, processing, and distributing feedstock, operating and maintaining plants, and selling and distributing the gas generated.
• No Launch of New Technologies in Order to Ease the Process
• Lack of Awareness Among People