|January 15, 2017|
Report: Global Biogas Market to Reach $50 billion by 2026
|Global biogas revenues are expected to grow at a steady 6.5% CAGR from nearly $24.5 Billion in 2015 to around $48.8 billion in 2026, according to a new report from Future Market Insights.|
Due to mounting concerns over depleting fossil reserves and the environmental impact of conventional fuels, global biogas revenues are expected to grow at a steady 6.5% CAGR from nearly $24.5 Billion in 2015 to around $48.8 billion in 2026, according to a new report from Future Market Insights.
During the forecast period 2016-2026, the authors stated that between 2016 and 2026, the global biogas revenues will double, with Asia-Pacific (APAC) and Latin America among key regions fuelling demand.
The APAC biogas market is predicted to grow relatively fast at 9.2% CAGR, while Latin America will account for over 50% of the global biogas revenues.
In North America, adoption of biogas plants was forecast to drop considerably, owing to rising preference for solar power in the US. By 2026-end, North America's biogas plant was predicted to be valued over $9.6 billion.
On the other hand, regions such as Middle East & Africa (MEA) and Eastern Europe are forecast to exhibit a comparatively nascent growth in terms of biogas revenues, through 2026.