Top 3 trends augmenting Europe biogas market outlook through 2025
The Europe biogas market is poised to garner noteworthy growth on account of rising imposition of legislative schemes and policies geared towards the decarbonization of the energy sector. The European Union has imposed the EU Directive 2009/28/EC, which offers a legislative framework to effectively use renewable energy sources with the objective to minimize GHG emissions. European countries are increasingly adopting biogas systems as it helps in strengthen their efforts towards renewable energy mix as well as a circular economy.
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Increasing imposition of favorable regulatory framework coupled with surging efforts to decarbonize the energy sector could positively impact the biogas market of Europe. As per reports, the European Union has set ambitious objectives to create a low carbon economy by 2050. Meanwhile, substantial technological development has improved the use of municipal & industrial waste for generating power. On this note, Global Market Insights, Inc., forecasts that the Europe biogas market might touch USD 6 billion by the year 2025.
Mentioned below are few of the trends stimulating biogas market of Europe:
1) Proliferating demand across Sweden
Increasing imposition of positive legislative policies centered around creating a circular economy could boost the demand for biogas systems across Sweden. Estimates predict that the Sweden biogas market might see exponential growth within the predicted timeframe. Earlier in 2018, the government of Sweden announced the appointment of delegate to drive the transition into a circular economy as well as adopt resource-efficient bio-based products.
2) Rising popularity of commercial biogas-
Growing inclination towards green energy coupled with escalating need to lower the use of fossil fuels could stimulate the demand for commercial biogas plants over the predicted timeframe. Imposition of favorable tax policies, feed-in-tariffs, and economic exemptions would accelerate the growth of the biogas sector across Europe.
Commercial plants are gaining support from public-private firms that aim at meeting energy demand. Citing an instance, in 2016, Gasum Oy and Helen Oy inked a major biogas partnership deal which allowed Helen to generate district heat with Gasum’s biogas system and increase their reliance on renewable energy.
3) Adoption of prominent business strategies-
Companies operating in the Europe biogas market are mainly focused on signing strategic partnership deals to expand their market and geographic presence. Taking January 2020 for instance, Greenlane Renewables revealed that Integrated Biogas Alliance’s founding members such as Eisenmann Corporation (U.S.), AB Energy (Italy), Tietjen (Germany), Greenlane Renewables (Canada), and Entsorga (Italy) have collaborated to sign a non-exclusive basis to offer a completely integrated organic waste-to-renewable energy platform to the biogas industry.
Currently, companies like Weltec Biopower, AB Holding, Xergi, Scandinavian Biogas Fuels International, Gasum, Viessman, and Engie are leading the Europe biogas industry landscape with their innovative solutions.