Biogas Market has been valued at USD 27.02 billion in the year 2021 and it is estimated to reach USD 37.13 billion by the year 2027, with a CAGR of 5.14% from 2022 to 2027. Biogas is an energy-rich gas produced by anaerobic decomposition or thermochemical conversion of biomass. Biogas is composed mostly of methane (CH4), the same compound in natural gas, and carbon dioxide (CO2); these are the main factors that have considerably increased the demand for Biogas in the market, thereby driving the huge growth of the Biogas market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for Biogas in the market are mainly due to the rising product demand from various applications such as electricity, heat, vehicle fuel, upgraded biogas, and cooking gas. Shifting focus toward the use of renewable energy, particularly in the electric power sector, has significantly driven the demand for biogas in electricity applications. In addition, the increasing need to reduce dependency on fossil fuels is creating lucrative opportunities for biogas in vehicle fuel applications; these are the main factors that have considerably increased the demand for Biogas in the market, thereby driving the huge growth of the Biogas market in the upcoming years

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The report is segmented as:

The biogas Market is segmented on the basis of:

By Source (Agricultural, Municipal and Industrial),

By Application (Vehicle Fuel, Heat Generation, Power Generation, and Others),

By Size (3 MW),

By Technology (With Pre-Hydrolysis, Without Pre-Hydrolysis), By Process (Landfill, Sewage Sludge, Anaerobic Digestion, Pyrolysis & Gasification)

Geographical Segmentation:

The biogas Market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and the rest of the world. North America has the dominant share in Biogas due to the growing demand for the product in applications, such as cooking gas, electricity, vehicle fuel, heat, and others, which is expected to have a positive impact on the industry growth over the forecast period these are the main factors that have considerably increased the demand for the Biogas in North America, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa will register a slower increase in the Biogas Market

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Impact of COVID-19 on the Market

Covid -19 pandemic has affected the growth of business in every sector and it also affected the growth of the Biogas market, and the temporary lack of growth in export and import activities, which has impacted the rays of Biogas market growth. The covid-19 pandemic has impacted hugely the sales revenue of the Biogas market. The government restrictions like lockdown in many countries have shut down commercial and industrial establishments and also stopped transportation these made a huge loss for the Phycocyanin market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of coronavirus.

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