As per the research report titled ‘Global Biogas Market Size study, by Type (Livestock Manure, Crop Residue, Sewage, Food waste) by Application (Residential, Commercial, Industrial) and Regional Forecasts 2021-2027’, available with the MarketStudyReport, global biogas market was evaluated at USD 52.9 billion in 2020 and this expected to reach USD 93.64 billion by 2027, recording a whopping 8.5% CAGR over the projection period.
 

Rising environmental cognizance and surging investments in renewable energy sources are some of the major factors driving the growth of global biogas market. Additionally, a waste-derived economy is expected to be gain significant traction in the upcoming years, given the widespread adoption of biogas across the globe.
 

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It is worth noting that biogas is a sustainable and an environmentally friendly fuel that is made by turning organic waste into gas. It can be used as a road vehicle fuel and has industrial applications such as municipal and on-site electricity generation.
 

Despite the several growth trends, global biogas industry's growth is likely to be restrained due to huge preliminary investments for establishing the plants.
 

Based on type, the market is segmented into food waste, sewage, crop residue, and livestock manure. The application scope of global biogas marketplace involves industrial, commercial, and residential segments.
 

From a regional frame of reference, the market is categorized into North America (the U.S., Canada), Europe (Germany, France, Spain, the U.K., Italy), Asia-Pacific (China, India, Japan, Australia), Latin America (Brazil, Mexico) and rest of the world.
 

As per the report, Europe accounts for the largest share in the global biogas industry, owing to growing focus towards minimizing pollution and other initiatives to reduce carbon emissions.
 

Meanwhile, Asia-Pacific market is expected to develop at the fastest rate throughout the projected period. Factors such as rising disposable income and increased government spending on renewable energy resources are fueling the overall market growth in Asia-Pacific.
 

Key players analyzed in the worldwide biogas market are AAT Abwasser-und Abfalltechnik GmbH, BEKON GmbH, Biogen Inc., Cargill Inc., Environmental Products & Technologies Corp., Evoqua Water Technologies LLC, n-bio GmbH, Siemens AG, Weltec Biopower GmbH, Zorg Biogas GmbH.