Biomass is among the major sources of renewable energies with minimum carbon emission. Technological advancements in biomass power production are boosting the global market for biomass power generation predicts Fortune Business Insights in their new report, titled,” Biomass Power Generation Market Size, Share and Global Trend By Technology (Combustion, Pyrolysis, Gasification, Anaerobic Digestion, Landfill gas(LFG), Others), By Feedstock (Urban residue, Municipal Solid Waste (MSW), Agricultural and forest residue, Energy crops, Woody biomass, Others), By End-use Industry (Industrial, Residential & Commercial, Utilities), and Geography Forecast till 2026”. The report covers drivers, and restraints, market challenges, and strengths and opportunities of the market in detail. It projects the market’s growth trajectory between 2019 and 2026.
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Key Segmental Overview:
1. By Technology
- Anaerobic Digestion
- Landfill gas(LFG)
2. By Feedstock
- Urban residue
- Municipal Solid Waste (MSW)
- Agricultural and forest residue
- Energy crops
- Woody biomass
3. By End-use Industry
- Residential & Commercial
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
Based on end-use industry, the global biomass power generation market is classified into utilities, commercial, and industrial sectors. Industries such as the forest industry, paper industry, pulp industry, and others are focusing on using energy derived from biomass to power various industrial purposes. Based on technology, the market is categorized into anaerobic digestion, gasification, pyrolysis, combustion, and landfill gas (LFG) among others. Among these, the combustion segment is more popular since the waste is directly combusted in the combustion chamber in combustion process while in gasification process, the water is partially combusted with less pressure and heat forming substance called syngas.
Huge Investments Made for Exploring Renewable Energy Sources Boost Growth
The increasing demand for energy has increased the consumption of hydrocarbons for producing electricity. Due to the rising consumption of conventional fuel, the non-renenwable sources of energy are exhausting at a fast pace. Thus, nations worldwide are investing increasingly in the research and development for exploring renwable sources of energy. The fact that biomass produces minimum carbon emission as compared to other sources is a major factor propelling its demand in the global market. This, coupled with, the easy availability of biomass is helping the global market for biomass power generation witness remarkable growth.
With the implementation of biomass power generation for various purposes, it will help to cut down the cost of energy production. This will also help to keep a check on air pollution. Besides this, the fact that natural human and animal waste can be used for generating power is a major growth driver for the biomass power generation market in the long run.
However, the market for biomass power generation may face certain challenges. These include lack of awareness about the benefits of using biomass as an energy source, and high cost of agricultural waste and forestry. Additionally, biomass may contain elements such as particles of fly ash, metals, and chlorine components. Therefore, using external combustion method is necessary to avoid harmful effect on environment. Nevertheless, the decreasing line of oil reserves and fluctuating prices of crude oil will help the market for biomass power generation to witness lucrative growth opportunities in the near future.
Key Market Driver – Tremendous demand for green and clean energy
Key Market Restraint – High installation cost
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Initiatives Implemented to Encourage Biomass Power Generation to Create Lucrative Growth Opportunities
The biomass power generation market in North America is witnessing significant growth on account of the ever-increasing demand for energy. The biomass generation market in North America is anticipated to rise exponentially in the coming years because biomass comprises of an approximate of 5% of the total primary energy in the U.S. On the other hand, the market in Europe is anticipated to grow rapidly on account of the stringent government regulations and hefty fines imposed against carbon emission violaters. European nations have taken initiatives to promote biomass and green energy for environment protection. The advantageous properties of biomass energy will act as a major booster for the growth of the biomass generation market in Europe in the forecast duration. On the other hand, the biomass generation market in Asia Pacific is anticipated to witness the fastest growth on account of the rapidly transforming economies of developing nations such as China and India. Governments of these nations are taking initiatives to promote biomass in terms of full electrification and organized energy flowing grid structure. These initiatives are likely to bode well for the regional market in the long run.
Companies functioning in the global biomass power generation market are emphasizing on generating more electricity to provide energy to unreachable areas. To cite an instance, China’s biomass sector generated about 24.5 Bn kWh of electricity in May 2019. This amount of electricity helped to generate about 16.7 % year-on-year growth rate and that too in just the first quarter of the year. Such initiatives are likely to bode well for the global market.
Top Players Overview:
- ON Energy
- Babcock & Wilcox Company
- Indus Green Bio Energy Pvt. Ltd.
- Ørsted A/S
- Oulun Energia Oy
Key Industry Developments
- In May 2019, China’s biomass sector has generated 24.5 billion kWh of electricity during the first quarter of 2019, which shows a growth of 16.7 % year-on-year.
- In April 2019, Dutch Health and Nutrition Company Royal DSM has reduced CO2 emission from its plant in Sisseln, Switzerland, after switching to biomass which helps to reduce 50,000 tons per year of Co2 emission.
- In October 2018, India’s largest power producer NTPC is planning to start biomass co-firing across all its coal-based thermal power station to reduce the greenhouse gas emission.
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Major Table of Content for Biomass Power Generation Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Biomass Power Generation Market Analysis, Insights and Forecast, 2026
- North America Biomass Power Generation Market Analysis, Insights and Forecast, 2026 Europe Biomass Power Generation Market Analysis, Insights and Forecast, 2026
- Asia Pacific Biomass Power Generation Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Biomass Power Generation Market Analysis, Insights and Forecast, 2026
- Latin America Biomass Power Generation Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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