Biodigester Market Size

Biodigester Market size was over USD 28.38 Billion in 2023 and is projected to cross USD 59.8 Billion by the end of 2036, witnessing more than 5.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of biodigester is estimated at USD 29.89 Billion. There is a significant transition towards the usage of renewable and eco-friendly energy equipment, because of the negative environmental implications of traditional power equipment. Bio-digesters are extensively employed as an environmentally friendly alternative for energy generation. Renewables will account for 29 percent of global power output in 2020. Biomass accounts for 98 percent of renewable energy utilization in the industrial sector, with around 60 percent originating from biomass wood, 31 percent from biofuels, and almost 7 percent from biomass trash.

Various government organizations are also investing in the establishment of various bio-digesters in order to reduce reliance on traditional energy-producing methods. As a result, renewables will account for 29% of worldwide power generation in 2020, up from 27% in 2019. Renewable power output is expected to rise by more than 8% to 8 300 TWh in 2021, the greatest year-on-year growth since the 1970s.