Biogas : Biogas Upgrading: Strong growth ahead?
A biogas upgrading, the technology to concentrate the methane in biogas to natural gas standards, is expected to grow dramatically in the next five years. Estimated at USD 1,246.70 Million in 2020 and expected to reach USD 1,391.45 Million in 2021 the market will grow at a Compound Annual Growth Rate (CAGR) of 11.76% from 2020 to 2025 to reach USD 2,173.69 Million by 2025, a study by the market consulting institute 360iResearch found. Based on Type, the Multistage Market commanded the largest size in the Biogas Upgrading Market in 2020, and it is expected to grow at the fastest CAGR during the forecast period. Based on Technology, the biggest growth potential is attributed to Pressure Swing Adsorption Systems, the Membrane Systems technology, commanding the largest marketsize in 2020 will see slightly slower growth, like Chemical Absorption Units, Physical Absorption, Units Based on Cryogenic Technology, and Water Scrubbers.
Marketwise, Municipal and Domestic Sewage commanded the largest size in the Market in 2020. Agricultural Wastes are expected to grow at the fastest CAGR during the forecast period, the study finds. The most important growth region will be the Asia-Pacific region, Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand, while the Europe, Middle East & Africa will remain the most important market region.