Briquetting Machine Market Size

Briquetting Machine Market size was valued at USD 1.07 Billion in 2023 and is anticipated to exceed USD 2.65 Billion by the end of 2036, expanding at over 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of briquetting machine is evaluated at USD 1.14 Billion. This growth is influenced by growing agricultural waste. Around 1 billion tonnes of agricultural waste are produced globally each year, and agriculture is responsible for around one-fifth of greenhouse gas emissions. This agriculture waste is then converted into briquetting to utilize it as fuel, and feedstock.

There has been growing concern about pollution in the environment. Fossil fuels release harmful greenhouse gasses into the environment which brings adverse effects on humans and animals. Fossil fuel-related CO2 is expected to reach about 35 billion tonnes, which would be a record high, globally. Hence, the preference for biogas is increasing among people.