Moreover, effective utilization of farmland as an energy resource is likely to increase the share of manure production as agricultural crops have the potential to produce 70% of biogas through anaerobic digestion plants. These initiatives and implementation of biogas technology are increasing the demand for biodigesters.
Biofuels are a significant part of the renewable sources used for fuel consumption currently. Renewable sources of energy held a share of 8.5% in total final energy consumption in 2018. On account of this rising demand for biodigesters, the demand for the various components used in these systems is increasing as well.
European Commission launched a mandatory regulation for all member states that the share of transport fuels from biofuels or other sustainable sources be increased to 10% minimum by 2020. Moreover, as per the U.S. Renewable Fuel Standard, it is mandatory to gain a nine-fold increase of biofuels production from 15 billion liters in 2006 to 136 billion liters by the end of 2020. These government initiatives are contributing to the adoption of bioenergy or biogas solutions and eventually boosting the adoption of biodigesters across the globe. However, the underground installation of digester in flood-prone is a major concern for the consumers.
How could the Global Biodigester Market address the COVID-19 concern?
As COVID-19 continues to disrupt global markets in unprecedented ways, governments continue to turn to proven public health measures to contain the contagion. A COVID-19 vaccine is still far from fruition. As such, most governments that are dealing with growing infection rates of their populations are turning to social distancing and quarantines as the most pragmatic remedy.
Unfortunately, these measures have severed the flow of people and goods, stalled markets, and may trigger a global recession (defined by global GDP growth of below 2% for more than two quarters). In short, the infection caused by COVID-19 is spreading as fast in global markets as it is among people. A few short weeks ago, the economic contagion didn’t look plausible. Now, with the disease trajectory still on an upward trend, the cost to economies across the globe will be high.
Accurately forecasting the impact of the disease is nearly impossible and yet experts must do it to try and prepare for what is yet to come in the weeks, months, and yes, maybe even years ahead. With the unmapped crisis ahead of us all, everyone wants to gain some understanding or limited visibility of the impact that COVID-19 will have on market trends globally.
Global Biodigester Market Landscape
The global biodigester market is projected to reach USD 5.45 billion in 2023, showcasing growth at a CAGR of 8.40% through the forecast period (2017-2030). By the end of 2016, 130 micro-scale digestion facilities were in operation in Europe. Further, HomeBiogas systems have already been installed in several eco-districts in Great Britain, and close to 1,000 family-sized Biogas systems have been deployed to over 90 countries since 2015. Asia-Pacific region shows dominance in the global biodigester market owing to its huge implementation of small-scale biogas plants or digesters in the production of bio-methane gas for cooking and space heating in developing countries. China is the country with the most household biogas digesters in the world, there are more than 30 million household biogas digesters and the number is still growing thanks to the government-supported promotion of eco-agriculture in rural China.
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