Europe Biogas Plant Market Size [2023-2028] | Industry Growth, Share, And Trends Forecast Analysis Report
Europe Biogas Plant Market Size [2023-2028] | Industry Growth ... GlobeNewswire
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Europe Biogas Plant Market
Introduction
Pune, India, Sept. 18, 2023 (GLOBE NEWSWIRE) — The Europe biogas plant market size is projected to grow from USD 1.87 billion 2021 to USD 3.47 billion in 2028 at a CAGR of 9.2% during the 2021-2028 period. This vital information is presented by Fortune Business Insights
, in its report, titled, “Europe Biogas Plant Market, 2021-2028.” Factors such as increasing adoption of biogas in the European region as a renewable source of energy and less impact on the government will lead to an increased footprint of the market during the forecast period.
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Europe Biogas Plant Market Scope:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 9.2% |
| 2028 Value Projection | USD 3.47 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 1.67 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 99 |
| Segments covered | By Feedstock, Digester Type, Application, and Region |
| Growth Drivers | Growing Adoption of Renewables Energy to Drive Market |
| Waste Utilization for Energy Production Will Accelerate Market Growth |
Drivers and Restraints:
Rising Utilization & Increasing Adoption of Renewable Energy Resource to Bolster Growth
Rising adoption of renewable energy sources and rising list of stringent regulations regarding greenhouse gases will foster the Europe biogas plant market growth during the forecast period. Also, increasing utilization of biogas in the field of electricity generation will fuel the market towards a larger footprint. Biogas can also be procured from commercial food waste, domestic municipal and industrial sewage, agricultural waste, and livestock manures, which will augment the growth rate.
However, high initial investment is expected to hinder the market growth during the forecast duration. Also, the requirement of maintaining
COVID-19 Impact:
COVID-19 Pandemic Hampers Production and Supply Chains Leading to a Negative Impact
The ongoing pandemic has severely affected various business sectors across the globe and the sector of Europe biogas plants is no different. Constant lockdowns and various movement restrictions have rendered billions of gallons of oil and trillions of cubic meters of gas to be out of use. Additionally, disruptions in the supply chain and faltering in transportation sector has further led to postponement of various large scaled projects. Unavailability of raw materials, components, and skilled laborers will harm the growth of the market’s revival to a certain extent.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Report Coverage:
The Europe biogas plant report contains a deep dive into the market in terms of leading companies and their underlying strategies. Additionally, factors such as leading feedstock, and application of the product are justified with a sound research methodology. The latest market trends and highlights key industry developments are noted in the study. The effect of the ongoing pandemic has been further integrated into the report for providing valuable insights into
SDGs, Targets, and Indicators Identified in the Article
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase the share of renewable energy in the global energy mix | Increasing adoption of biogas in the European region as a renewable source of energy |
| SDG 9: Industry, Innovation, and Infrastructure | 9.4: Upgrade infrastructure and retrofit industries to make them sustainable | Increasing adoption of biogas in the field of electricity generation |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies, and planning | Rising adoption of renewable energy sources and rising list of stringent regulations regarding greenhouse gases |
| SDG 15: Life on Land | 15.3: Combat desertification, restore degraded land and soil, including land affected by desertification, drought, and floods | Utilization of biogas from agricultural waste and livestock manures |
1. Which SDGs are addressed or connected to the issues highlighted in the article?
SDG 7: Affordable and Clean Energy
The article discusses the increasing adoption of biogas as a renewable source of energy in the European region. This aligns with SDG 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all.
SDG 9: Industry, Innovation, and Infrastructure
The article mentions the utilization of biogas in the field of electricity generation. This relates to SDG 9, which focuses on building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation.
SDG 13: Climate Action
The article highlights the rising adoption of renewable energy sources and the implementation of stringent regulations regarding greenhouse gases. This is connected to SDG 13, which aims to take urgent action to combat climate change and its impacts.
SDG 15: Life on Land
The article mentions the utilization of biogas from agricultural waste and livestock manures. This relates to SDG 15, which focuses on protecting, restoring, and promoting sustainable use of terrestrial ecosystems, sustainably managing forests, combating desertification, and halting biodiversity loss.
2. What specific targets under those SDGs can be identified based on the article’s content?
Target 7.2: Increase the share of renewable energy in the global energy mix
The increasing adoption of biogas as a renewable source of energy in the European region contributes to achieving this target.
Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
The utilization of biogas in the field of electricity generation aligns with this target as it involves upgrading infrastructure and promoting sustainable practices in the industry.
Target 13.2: Integrate climate change measures into national policies, strategies, and planning
The rising adoption of renewable energy sources and the implementation of stringent regulations regarding greenhouse gases demonstrate the integration of climate change measures into national policies and strategies.
Target 15.3: Combat desertification, restore degraded land and soil, including land affected by desertification, drought, and floods
The utilization of biogas from agricultural waste and livestock manures contributes to combatting desertification and restoring degraded land by providing an alternative energy source and reducing waste.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
The article mentions several indicators that can be used to measure progress towards the identified targets:
- Increasing adoption of biogas in the European region as a renewable source of energy
- Increasing adoption of biogas in the field of electricity generation
- Rising adoption of renewable energy sources and rising list of stringent regulations regarding greenhouse gases
- Utilization of biogas from agricultural waste and livestock manures
4. Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase the share of renewable energy in the global energy mix | Increasing adoption of biogas in the European region as a renewable source of energy |
| SDG 9: Industry, Innovation, and Infrastructure | 9.4: Upgrade infrastructure and retrofit industries to make them sustainable | Increasing adoption of biogas in the field of electricity generation |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies, and planning | Rising adoption of renewable energy sources and rising list of stringent regulations regarding greenhouse gases |
| SDG 15: Life on Land | 15.3: Combat desertification, restore degraded land and soil, including land affected by desertification, drought, and floods | Utilization of biogas from agricultural waste and livestock manures |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: globenewswire.com
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