Biogas is a fuel majorly processed from waste products, which acts as important substitute for conventional fuels. The global market for biogas equipment was valued at $3 Billion in 2010, with a CAGR of 19.4%, is expected to reach $8.6 Billion in the next five years.
The major drivers for growth of this market would be increasing awareness for environmental safety and excessive use of fuels. All over the world, 11 Billion tones of oil in fossil fuels are consumed with the consumption of crude oil at a rate of 4 billion tons per year.
High initial investment acts as main restraint for the progress of this market. An average Municipal Biogas plant may cost as much as $19000/kWe installed.
The major players in this market are AAT GmbH & Co, ADI Systems Inc, Bedminster International, Bekon Biogas Energy Inc, Biogas Technology Ltd, Biogen Greenfinch, Cargill Inc, Chevron Energy Solutions, Environmental Energy Engineering Co, Environmental Products & Technology Corp, Biotech Energy AG, General Electric Co, Siemens AG, Waste Energy Solutions LLC and others.
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