The increasing rate of urbanization, population growth, and economic development of countries have led to a significant increase in waste generation across the world. Solid waste is a major source of methane, a powerful GHG. Uncollected municipal solid waste leads to floods, air pollution, and health issues. The treatment of municipal solid waste to produce biogas and biomethane is an ideal solution to make use of the waste. Thus, the increase in municipal solid waste generation will directly fuel the growth of the market during the forecast period.
As per Technavio, the growing adoption of biomethane as a transport fuel will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global biomethane plants market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Biomethane Plants Market: Growing Adoption of Biomethane as a Transport Fuel
The global transportation sector is highly dependent on oil, and thus, it accounts for a major share of the overall GHG emissions. Thus, rising environmental concerns are shifting the focus of the transportation sector toward developing low-carbon fuel alternatives. Biomethane has emerged as one of the promising alternatives for oil, which can ensure sustainable mobility. Thus, the adoption of biomethane is increasing in the transportation industry, which is expected to drive biomethane plants market growth during the forecast period.
“Apart from the growing adoption of biomethane as a transport fuel, other factors such as the increasing use of biomethane as piped gas, and the emergence of integrated waste management systems will have a significant impact on the growth of the biomethane plants market value during the forecast period,” says a senior analyst at Technavio.
Global Biomethane Plants Market: Segmentation Analysis
This market research report segments the global biomethane plants market by feedstock type (agriculture, sewage, and others), and geographic regions (EMEA, the Americas, and APAC).
The EMEA region led the biomethane plants market in 2018, followed by the Americas, and APAC, respectively. The market dominance of the biomethane plants market in EMEA can be attributed to several factors such as the increasing demand for energy, rising concerns regarding environmental degradation, and economic development in the region.
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