Global Biomass Power Market Report, Insights and Trends, Positive and Negative Factors, Areas to Focus on, Potential Markets, Key Developments, Segments and Verticals, and Forecast 2020 – 2029

Global Biomass Power Market Trends, Opportunities Applications, End-use Industries, Growth, and Market Forecast till 2029” is a recently created report by MarketResearch.biz. The global biomass power market report has been segmented on the basis of feedstock type, technology, application, and region/ country.

Biomass Power: Overview

Biomass is an organic matter and an ultimate substitute for producing conventional fossil fuels used for power generation and heating. From the recent years, adoption of biomass is increasing and this trend is becoming very popular with worldwide acceptance. Biomass power has emerged as an energy source on the global scale. Biomass power is a carbon-neutral electricity which is generated from renewable organic waste including by-products from sugarcane crops, timber industry, oil-rich algae, woody plants, agricultural residue and industrial waste. Biomass power is made in a combustor or furnace by burning biomass substances.

Global Biomass Power Market: Dynamics

Biomass matter is easily available and can be used as a cost-effective renewable resource to generate power. The low cost of energy (LCOE), active participation of government and major players to spread awareness and promote adoption of biomass power is expected to drive growth of the global biomass power market. Cultivation of biomass crops can help produce more amount of oxygen and curb carbon dioxide emissions in the air. In addition, increasing government initiatives to reduce dependency on fossil fuels and control carbon emissions is projected to fuel market growth. Increasing number of advancements in power generation technologies and increasing demand for environment-friendly renewable energy sources are some major factors expected to create revenue opportunities for players in the global biomass power market.

However, weak supply chain in the market is one of the factors that could hamper growth of the global biomass power market. In addition, lack of awareness about biomass power across certain emerging countries and fluctuating cost of feedstock and other biomass matter are other factors that could restrain the market growth to a certain extent.

Global Biomass Power Market: Segment Analysis     

Analysis by Feedstock Type:

Among the type segments, the woody biomass is expected to account for highest revenue share in the global market, followed by the agriculture and forest residue segment, because of increasing demand for energy, rapid industrialization, and depleting non-renewable resources.

Analysis by Technology:

The combustion segment is expected to dominate in the global market owing to high power generation capability with cost-effectiveness. The co-firing and Combined Heat and Power (CHP) segments are projected to register higher growth rates over the 10-year forecast period.

Global Biomass Power Market: Region Analysis

North America market is estimated to dominate the global biomass power market due to increasing government initiatives for adoption of biomass power in countries in the region. Moreover, growth of the market is influenced by investments by major private companies and subsidies from government. The Europe biomass power market is anticipated to account for second-highest revenue share in the global market, and is projected to witness moderately higher growth rate over the 10-year forecast period. Increasing number of government initiatives, presence of prominent players are major factors due to which the market is achieving significant ground in this region. The Asia Pacific market is expected to register a significantly higher compound annual growth rate over the next 10 years, due to presence of government initiatives such as incentives and subsidies and cultivation of biomass crops in several countries in the Asia Pacific.

Global Biomass Power Market Segmentation

Segmentation by Feedstock Type:

• Woody Biomass
• Urban Residue
• Biogas
• Agriculture & Forest Residues
• Energy Crop

Segmentation by Technology:

• Landfill Gas
• Co-Firing
• Combustion
• Combined Heat and Power (CHP)
• Anaerobic Digestion, and Gasification

Segmentation by Application:

• Residential
• Commercial
• Industrial

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa