Global Biogas Market to Reach 39,846 KTOE by 2023
A research study on the global biogas market , recently published by Transparency Market Research (TMR) estimates this market to expand at a CAGR of 6.56% over the period from 2015 to 2023. The market is expected to witness an increase in its production volume from 22,488 KTOE in 2014 to a 39,846 KTOE by the end of the forecast period. The research report is titled “ Biogas Market – Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 – 2023 .” Biogas is a mixture of various gases produced by the diffusion of organic matters in the absence of oxygen. It consists of methane (40%-70%), carbon dioxide (30%-45%), and small portions of hydrogen sulfide, nitrogen, and siloxanes. It is used as a fuel for cooking, heating, as a vehicle fuel, and in the production of heat and electricity. According to the report, the increasing emission of greenhouse gases is the key factor behind the rising demand for biogas across the world. In addition, the growing uptake of natural