Biogas Market in Europe will exceed $2 billion by 2024
September 7, 2018
By Global Market Insights
Sept. 7, 2018 - Government initiatives and widespread enactment of stringent environmental laws to subdue the greenhouse gas emissions will drive the Europe biogas market, according to a report from Global Market Insights. Adoption of these systems has significantly escalated across the region owing to the rapid integration of renewable sources as a substitute for fossil fuels. The EU 2020 strategy aims at 20 per cent increase in energy efficiency and renewable adoption, with simultaneous decrease in emissions when compared to 1990 levels.
Ongoing regulatory reforms to encourage the adoption of bioenergy along with rapid industrialization will propel the anaerobic digestion market share. Carbon tax, direct subsidies, tax rebates, feed in tariff, financial assistance and renewable portfolio standards are some of the incentives which will boost the product penetration over the forecast timeframe. In 2013, Government of France introduced feed-in-tariff including a rebate worth 0.14 to 0.25 USD/kWhe for AD plants and 1.03 to 0.17 USD/kWhe for landfills.
Rapid industrialization along with stringent government regulations toward industrial waste to reduce land and water pollution will embellish the Europe biogas market. The European Commission enacted the 2000/76/EC Directive with an aim to restrain the adverse effects from the waste incineration process across the region. The directive lays emission norms pertaining to waste & co-incineration plants and further imposes operational & technical standards within the member states.
Denmark in 2016, accounted for over one per cent of Europe biogas market share. Availability of a variety of feedstock materials across the nation favor the deployment of these systems. High operational performance, affordable price and low emission rate make its adoption preferable over other available alternatives The Danish government aims to achieve renewable based energy supply of 35 per cent by 2020 and further cease dependency on fossil fuels by 2050.
Municipal biogas market size is set to witness strong growth on account of growing awareness toward waste management supported by federal and state incentives. Rapid urbanization with escalating recycling need is some of the key factors which will fuel the business growth. Rising investments have further directed the surplus funds toward the deployment of progressive & high-capacity bio-based systems.
Favorable government initiatives to encourage adoption of sustainable energy along with measures to reduce the carbon content will stimulate the Germany biogas market share. As per IEA, share of renewable energy in terms of total energy and electricity across Germany is expected to exceed 18 per cent and 35 per cent respectively by 2020. Additionally, the country aims to reduce its carbon dioxide emissions by 40 per cent.
Rapid adoption of sustainable energy coupled with technological diversification of energy sources will drive the Poland biogas market. Growing concern to sustain the energy demand and supply gap across residential, commercial and industrial establishments will further complement the business outlook.
Source: www.gminsights.com/industry-analysis/europe-biogas-market
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