BIOGAS IS THE NEXT BIG ALTERNATIVE IN THE GLOBAL ENERGY MARKET
Energy crisis is an emerging issue and the world is struggling to find a suitable environment-friendly energy option for its denizens. The global energy market is expanding rapidly. The soaring demand for energy is presently greeted with the help of fossil fuel. Industry experts believe that the demand in the energy market will grow manifold in the forthcoming years. There is an urgent need of an alternate source of environment-friendly energy to fill up this gap in the market. An environment-friendly energy source is a must, as greenhouse emissions are acutely disturbing the environmental balance. The growth of biogas as an alternate and green energy source is the only hope for the modern world.
The global biogas market is likely to soar within the assessment period. The market will witness a CAGR of 6.5% in terms of value in the years to come. The global biogas market showcased a promising growth in 2015 as the sales spurred and the total value of the market swelled above US$ 24000 Mn. The regions such as Latin America and Asia Pacific will play an important role in the growth of the global biogas market within the period of assessment.
Western Europe ruled the roost until the end of 2016, but the Asia Pacific region is predicted to propel its growth within the next few years. North America is projected to gain 200 BPS over the period of forecast. Western Europe is estimated to gain 230 BPS over the projected period and is projected to remain dominant during the period of forecast. Owing to increasing demand for electricity and vehicle fuels in the region, Asia Pacific is anticipated to gain 310 BPS over the assessed period.
KAPB had chosen to invest and penetrate the global biogas market with focus on Germany. Based on the analysis released by the European Biogas Association in 2015, Germany has the most biogas plant in the world.