Global Biomass Market: Overview
Biomass has gained popularity due to its significant role as a key renewable energy in the global energy mix. Extracted or generated from agricultural waste, forestry, and biogenic waste, biomass offer a wide range of fuels. The improving economics of energy production of biomass have radically improved its uptake as a potential fuel amongst several users.
The researchers have thoroughly analyzed the global biomass market using a SWOT analysis and Porter’s five forces analysis. The former market measurement tool puts together an assessment of the strengths, weaknesses, opportunities, and threats influencing the various segments of the global market. On the other hand, the Porter’s five forces analysis provides an examination of the competitive landscape and explains the bargaining power of suppliers and buyers. Furthermore, the report also includes recommendations and comments by the expert market leaders that corroborate the research.
Global Biomass Market: Drivers and Trends
In the wake of global warming and growing pressure on governments across the globe to reduce their carbon footprint, several regulatory authorities are turning towards usage of biomass. Thus, biomass is largely being used in heavy duty vehicles as diesel and CNG are being replaced for achieving a greener means of transport. Though expensive, bioethanol is steadily being adopted as a crucial fuel to drive the transportation sector. Governments and other environmentalists are urging even the passenger car users who spend on gasoline to start using bioethanol as it is biodegradable and has lesser toxicity. Thus, all of these efforts are likely to boost the overall market in the next few years.
Counted amongst a key renewable source of energy, biomass is slowly gaining momentum and gearing up to dominate the energy mix of several countries. Historically, biomass has been used for cooking at home and for heating. However, with technological advancements and increasing research and development for making biomass more usable, it is expected to gain wider commercial applications. Today, the new-age application of biomass is being seen in efficient furnaces and boilers. The developing countries are still adapting to the modern uses of biomass as traditionally it was only used for heating. Most of the biomass for heating procured from solid fuels such as wood chips, wood logs, twigs, saw-mill residues, and pellets. Agricultural residues such as straw are also used to generate biomass in rural areas of several developing countries.
Global Biomass Market: Geographical Outlook
Geographically, the global biomass market is segmented into North America, Europe, Asia Pacific, and Rest of the World. According to analysts, Asia Pacific region is poised to make a generous contribution revenue of the global market in the coming years. The growing energy demands due to the emergence of economies in Asia Pacific have led a spike in the demand for biomass.
Analysts predict that Europe will see a prolific uptake of biomass boilers in the coming years as The European Union is working towards reducing carbon emissions by 80% by 2050. This move is expected to boost the demand for biomass in the region in the coming years to a significant degree. On the other hand, North America biomass market will surge at a slow pace during the forecast years.
Key Players Mentioned in the Report
The chief operating players in the global biomass market are Drax, Alstom, Siemens, Foster, and Wheeler.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.