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Market Research on Biomass Industry

allinonetrendz by allinonetrendz
November 13, 2024
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Market Research on Biomass Industry
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The size of the world’s biomass power industry, estimated at USD 121,340.76 million in 2021, is expected to expand at a 6.0% compound annual growth rate (CAGR) between 2022 and 2030. The industry has expanded as a result of countries’ increased use of renewable energy in their power mixes as a result of growing environmental concerns. Many governments, including those in India, China, Germany, the United Kingdom, and France, have made renewable energy objectives public and hope to one day become carbon-neutral states. Additionally, the industry is driven by increased adoption brought on by favourable laws and regulations.

The European Union is also seeking a phase-out of coal, which is anticipated to increase demand for biomass energy. Additionally, co-firing of coal-based power plants with biomass feedstock is done in nations like China, India, and the U.S. in order to reduce the amount of carbon emissions from the plants.

Biomass

During the anticipated period, these variables will accelerate the market’s expansion. 14 projects added 177 MW of biomass generating capacity in the United States in 2019. The latest project, ordered in 2019, was carried out in states like Florida, Georgia, California, and Hawaii. Additionally, the nation is home to around 384 MW of biomass power facilities that are in various stages of construction. These elements are predicted to accelerate market growth in the nation throughout the foreseeable future.

Biomass

North America’s regional market is dominated by the United States and Canada. The region of North America relies heavily on coal for the production of electricity. Gas-based power generation has increased more rapidly than coal-based power generation in the area during the previous ten years as a result of the recent finding of shale gas reserves in the area.The majority of the time, installers and system suppliers keep stock of large pieces of equipment. During the COVID-19 crisis, countries’ limited production led to manufacturing bottlenecks and shortages. Future biomass generating projects also experienced delays in commissioning because of supply chain disruptions and a halt in on-site building due to the installation of lockdowns in badly affected areas.

Technology Perspectives


The global market for biomass power has been further divided into combustion, gasification, and anaerobic digestion based on technology. In terms of revenue, the combustion segment controlled the largest share of more than 88.0% of the global revenue in 2021. With the market sector recording a consistent growth rate during the anticipated period, the current trend is anticipated to last. To turn water into steam, biomass feedstock is directly burned in a furnace with air. The steam created is utilised to power a steam turbine, which produces energy.

In comparison to other sophisticated biomass power technologies, the combustion technology operates more cheaply and with a less complex operation. This is anticipated to increase market demand for combustion technology over competing technologies. Applications for cooking gas, lighting, warmth, and power generation can all be done with biomass energy. Over the course of the projection period, these factors are anticipated to support the anaerobic digestion technology segment’s expansion. The market for gasification technology is anticipated to have the fastest CAGR during the projection period, nevertheless.

Feedstock Perspectives


The global market has been further divided into solid biofuel, liquid biofuel, and biogas on the basis of feedstock. The sector for solid biofuel had the highest revenue share in 2021, coming in at 85.5%. Throughout the forecast period, the category will continue to grow at a constant CAGR and maintain its dominant position. Solid biofuels have been used more widely than liquid biofuels and biogas for power generation applications due to their easy availability and low cost. However, the category for liquid biofuels is anticipated to develop at the quickest rate over the projection period.

In 2021, the biogas segment had the second-largest market share in terms of revenue, because to its higher calorific value and versatility in terms of production and use. Throughout the projected period, the category is anticipated to expand at a consistent rate. Methane and carbon dioxide make up the majority of biogas, which is created during the anaerobic digestion process but can also be created during the thermal processing of solid biofuel. Numerous uses for biomass energy exist, including power generating, space heating, and food preparation.

European Union

With a sales share of more than 37.0%, Europe was the largest regional market in 2021. By the year 2050, the European Union wants to achieve carbon neutrality. The European Union’s obligations under the Paris Agreement are in accord with this goal. According to the European Green Deal, in order to reach its 2050 climate-neutrality goal, the European Commission issued the first-ever European Climate Law in March 2020. Additionally, in order to fulfil their commitments under the Paris Agreement, the member nations of the European Union must establish and implement national long-term strategies.

The revenue from the global market in 2021 was largely contributed by North America. The U.S. and Canada are principally responsible for driving the demand for biomass electricity across North America. Coal is an important source of energy for the North American continent. Due to the recent finding of shale gas reserves in the area, gas-based power generation is expanding faster than coal-based power generation. On the other hand, it is anticipated that the market in Asia Pacific would expand at the fastest rate over the forecast period.

Important Businesses & Market Share Insights:


Due to the presence of significant corporations, the worldwide market is extremely competitive. In order to secure a constant supply of biomass feedstocks, conversion, transportation, and delivery of the value fuels to the end-user segment, the industry must connect with local and regional stakeholders. In order to further commercialise the various types of biomass power generation technologies, industry participants are also placing a strong emphasis on extensive research and development operations. The following are a few of the major participants in the worldwide biomass power market:

Mitsubishi Heavy Industries, Ltd.

Suez

Xcel Energy Inc.

Ramboll Group A/S

Babcock & Wilcox Enterprises, Inc.

Orsted A/S

Ameresco

General Electric

Veolia

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