Global Biomass Power Market by Technology (Combustion, Gasification), by Feedstock (Solid, Liquid Biofuels) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global biomass power market was valued at USD 51.2 million in 2020. It is projected to grow at a compound annual rate (CAGR of 5.9%) between 2020 and 2028. Market growth is expected to be aided by favorable government regulations that encourage thermal power stations to use biomass instead of coal. Biomass is a source of bioenergy. It can be used in many end-use markets to reduce dependence on fossil fuels and increase security of energy supply. The industry's future outlook is positive due to the declining use of coal and the increasing use of wood biomass for distributed electric production.

Due to the increasing implementation of climate change laws, which require use of renewable resources for power generation, the U.S. market will experience a significant growth. The U.S. uses biomass fuels as its primary energy source. They are mainly derived from municipal waste biomass and wood-derived biomass.

New developments that aim to use more biomass as fuel will also boost regional market growth. Biomass is a low-carbon, sustainable alternative to fossil fuels. It also allows local communities to make use of locally available biomass resources. It allows for efficient use of crop residues and unused urban waste, as well as wood manufacturing wastes. As part of their energy security and efficiency strategy, government agencies are focusing on the use of biomass to produce electricity. These initiatives are intended to increase the proportion of clean renewables within the national energy mix.

Bioenergy is energy that is produced from the burning of biomass and biomass fuels. According to the International Energy Agency, bioenergy power production grew by 5% in 2019. This is less than the 6% annual rate needed to achieve the 2030 Sustainable Development Scenario goals. The market's growth is expected to be supported by recent changes in policy and market developments.

Technology Insights

The combustion segment held the largest revenue share at more than 80% in 2020 and will continue to hold that position for the next few years. Direct biomass combustion technology is relatively simple to use, more reliable, and less expensive than other advanced biomass power technologies. The market share of this segment could decline as more efficient technologies take over.

Gasification is expected to grow at the fastest rate during the forecast period due to its high operational efficiency. This process transforms solid biomass into gaseousfuels, which are then used to generate electricity. The remaining gas is used in the chemical industry as synthesis gas. Because it can significantly reduce carbon emissions and produce a high-calorie gas from renewable sources, gasification technology is gaining popularity.

Anaerobic digestion plants can be used as standalone energy plants in areas with large amounts of agricultural residue or forest. Anaerobic digestion produces biogas at the household, village, or commercial levels in emerging Asian economies like India and China. This process allows for efficient management of animal dung, as well as gas production for power generation, lighting or cooking purposes.

Feedstock Insights

In 2020, solid biofuels accounted for 79.1% of the total revenue. Solid biomass such as crop waste and sawdust can be used or converted into charcoal and other briquettes for heating, power generation and cooking. Burning solid biomass can lead to severe climate change problems, which could limit the growth of the sector over the forecast period.

Liquid biofuels are ethanol made from grain or biodiesel made from trans esterified vegetable oil and diesel. Biofuel can be used in place of internal combustion engines that use kerosene or diesel. It can also be used on ships, aircrafts, trucks and passenger cars. Advanced liquid biofuels are capable of reducing emissions by up to 80% in heavy freight, aviation, and shipping. Over the forecast period, technology commercialization will boost the growth in advanced biofuels.

The biogas segment will see a 5.1% CAGR between 2020 and 2028. This is due to its ability to produce heat and electricity that can be used in fuel cells, microturbines and engines. Biogas can be converted into Renewable Natural Gas or biomethane, and used in vehicle fuels or injected into natural gaz pipelines. The segment's ability to reduce harmful methane emissions by reusing them into valuable commodities like biochemicals or biofertilizers is expected to increase its growth.

Regional Insights

Europe held the largest market share at 40.3% in 2020 due to favorable environmental regulations that were implemented throughout the region to maximize bioenergy potential. The region will see strong growth due to countries such as Germany, France, Sweden and Finland that have large forestry industries and abundant forest residues.

North America is expected to see significant growth in the coming years. The U.S. will be the largest revenue contributor. The increasing use of biomass electricity to generate electricity provides waste disposal services that are more environmentally friendly than burning openly. This helps sustain the demand for biomass power in the region.

Asia Pacific is expected to grow at 8.2% CAGR between 2020 and 2028. This is due to the abundance and broad feedstock base of biomass in emerging economies such as China, India and China. Biogas digesters are heavily subsidised in some parts of the region. Anaerobic digestion is a method of producing biogas from animal dung. It allows for efficient management and production of gas for power generation and lighting.

Market Share Insights & Key Companies

Complex supply chains are a challenge for the industry. Market players must interact with local and regional participants to ensure continuous supply of biomass feedstocks and transportation, conversion, delivery and delivery of valuable fuels to end-use markets. In order to commercialize various biomass power generation technologies, industry players are focusing on intense research and development. The following are some of the major players in the biomass power market:

• Mitsubishi Heavy Industries, Ltd.

• Suez

• Xcel Energy Inc.

• Ramboll Group A/S

• Babcock & Wilcox Enterprises

Up Market Research published a new report titled “Biomass Power Market research report which is segmented by Technology (Combustion, Gasification), by Feedstock (Solid, Liquid Biofuels), By Players/Companies Suez, Mitsubishi Heavy Industries Ltd, Babcock & Wilcox Enterprises, Ramboll Group A/S, Xcel Energy Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Biomass Power Market Report Segments:

The market is segmented by Technology (Combustion, Gasification), by Feedstock (Solid, Liquid Biofuels).

Biomass Power Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Biomass Power Market

Overview of the regional outlook of the Biomass Power Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Biomass Power Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Biomass Power Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Combustion

                2. Gasification

                1. Solid

                2. Liquid Biofuels

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Biomass Power Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Biomass Power Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.