Biomass Solid Fuel: Introduction
- Rapid increase in industrialization and population cross the globe over the last few decades have resulted in higher generation of waste. Governments and private companies are seeking environmentally-friendly power generation sources to reduce the waste as well as greenhouse gas and carbon emission.
- Biomass solid fuel can play a vital role in generation of power and heat, as it is environmental friendly and reduces waste materials to produce power and heat. Thus, biomass solid fuel is expected to be an ideal fuel for power and heat generation.
Key Drivers of Biomass Solid Fuel Market
- Increase in demand for renewable energy is the key driver of the global biomass solid fuel market. Rise in awareness about the environmental effects of fossil fuel has boosted the usage of renewable sources for power and heat generation across the world. Biomass solid fuels can provide environmentally-friendly power and heat generation systems.
- Enactment of stringent regulations regarding waste disposal on landfill by governments is another major factor driving the biomass solid fuel market. Governments of various countries are promoting the use of biomass solid, as it helps resolve the waste disposal issue by creating power and heat. Furthermore, governments are increasing the land fill tax. This is expected to propel the demand for biomass solid fuel in the near future.
Global Biomass Solid Fuel Market: Segmentation
- The global biomass solid fuel market can be segmented based on source, application, and end-user
- In terms of source, the global biomass solid fuel market can be divided into agricultural waste, wood & woody biomass, solid waste, and others. Wood & woody biomass and solid waste segments are expected to expand at a high CAGR during the forecast period.
- Based on application, the global biomass solid fuel market can be segregated into power generation, heating, and others. The power generation segment is likely to expand at a high CAGR during the forecast period.
- In terms of end-user, the global biomass solid fuel market can be classified into residential, commercial, and industrial. The industrial segment is expected to expand at a rapid pace during the forecast period. This can be ascribed to the enactment of stringent governmental regulations on companies to opt for low carbon fuel.
Global Biomass Solid Fuel Market: Regional Segmentation
- Based on region, the global biomass solid fuel market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- The market in North America is estimated to expand at a significant pace in the next few years. The U.S. dominates the market in the region. Demand for biomass electricity generation has been rising at a significant pace in the country since the last few years.
- Europe is expected to be a lucrative region of the global biomass solid fuel market in the near future. Germany, Spain, and Italy are the prominent countries of the market in the region. Implementation of stringent government policies about waste landfill disposal is a key factor driving the biomass solid fuel market in Europe. For instance, the landfill disposal tax in the U.K. increased by 11% during 2016 to 2019.
- Asia Pacific is also a lucrative region of the global biomass solid fuel market. Significant rise in industrialization and urbanization since the last few years has been driving the demand for electricity in the region. Biomass solid fuel effectively generates power and also controls waste disposal in Asia Pacific.
- The market in Middle East & Africa and Latin America is estimated to expand at a steady pace during the forecast period. Steady increase in investment in biomass solid fuels is likely to drive the biomass solid fuel market in these regions during the forecast period.
COVID-19 Impact on Biomass Solid Fuel Market
- The COVID-19 pandemic has adversely affected the global economy. It has negatively impacted the biomass solid fuel market. The supply chain of biomass solid fuels has been disrupted due to lockdowns and cross-border restrictions on logistics. Thus, demand for biomass solid fuel has decreased over the last few months. However, governments of various countries are taking initiatives to ease lockdowns and provide free movement of goods and laborers. This has helped restore the supply chain of biomass solid fuel. Thus, the biomass solid fuel is projected to expand in terms of demand in the near future.
Key Players Operating in Market
- Svenska Cellulosa Aktiebolaget SCA
- Hurst Boiler & Welding Co, Inc
- NIPPON PAPER INDUSTRIES CO., LTD.
- SOCOTEC Group
- Drax Biomass Inc.
- Vattenfall AB
Global Biomass Solid Fuel Market: Research Scope
Global Biomass Solid Fuel Market, by Source
- Agricultural Waste
- Wood & Woody Biomass
- Solid Waste
Global Biomass Solid Fuel Market, by Application
- Power Generation
Global Biomass Solid Fuel Market, by End-user
Global Biomass Solid Fuel Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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.