Global Biomass Power Generation Market Exhibit 6.4% CAGR Owing to Rising Awareness about Clean Energy Sources
Transparency Market Research has announced that its vast market research report portfolio now also features a detailed report on the global biogas power generation market. The report examines key elements of the market in great depths and presents an analysis of the major factors that will be instrumental in either driving or restraining the market’s growth, the major trends that define consumer preferences, and the combined effect of these factors on the market’s overall development. ?The report is titled “Biomass Power Generation Market - Global & U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022.”
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Biomass, the non-fossilized biodegradable organic substances that originate from biological sources such as micro-organisms, animals, and plants, has been witnessing huge rise in popularity as a cleaner source of power generation over the past some years. As biomass is an environment-friendly, carbon-neutral, and sustainable source of energy, the global biomass power generation market possesses vast potential in reducing the global reliance on fossil fuels.
The report states that the biomass power generation market will expand at a 6.4% CAGR in terms of value between 2014 and 2022, rising from a valuation of US$28.68 bn to US$50.52 bn by 2022. In terms of power generation, the market is expected to rise to 738,350.3 million KWh in 2022 from 72,571.9 MW in 2013, exhibiting a 6.8% CAGR over the period. In terms of installed capacity, the market is expected to exhibit a 6.2% CAGR and rise to 122,331.6 MW by 2022 from 72,571.9 MW in 2013.
The report segments the global biomass power generation market on the basis of three criteria: Feedstock, technology, and geography.
On the basis of feedstock, the market has been classified into woody biomass, agriculture and forest residues, urban residues, biogas and energy crops, and landfill gas feedstock. Of these, the segment of woody biomass currently accounts for the largest share in the market in terms of utilization, followed by the segment of agriculture and forest residue.
Based on technology, the market has been segmented into combustion, co-firing and CHP, landfill gas, anaerobic digestion, and gasification. Of these the segment of combustion technology led the global biogas power generation market, accounting for the largest share in the market in terms of both installed capacity as well as power generation. However, co-firing and CHP technologies are expected to be the prominent biogas power generation technologies over the report’s forecast period owing to their contribution in minimizing greenhouse gas (GHG) emissions.
On the basis of geography, the market has been segmented into Europe, Middle East and Africa (MEA), Asia Pacific, North America, and Latin America. Countries in Europe and North America have an encouraging regulatory framework and boast government support for the use and production of power from biomass. As such, the regions are known to be highly lucrative markets for the biomass power generation. The favorable regulatory scenario, funding programs, incentives, and grants in these regions will also provide healthy growth prospects for the biomass power generation market in these regions over the report’s forecast period.
Some of the most prominent vendors in the global biomass power generation market are The Babcock & Wilcox Company, DONG Energy A/S, Helius Energy Plc, Ameresco, Inc., MGT Power Ltd., Forth Energy Ltd., Alstom SA, Drax Group plc, Vattenfall AB, and Enviva LP.
The global biogas power generation market has been segmented into:
- Global Biomass Power Generation Market: Feedstock Segment Analysis
- Woody Biomass
- Agriculture & Forest Residues
- Biogas & Energy Crops
- Urban Residues
- Landfill Gas Feedstock
- Global Biomass Power Generation Market: Technology Segment Analysis
- Anaerobic Digestion
- Co-firing & CHP
- Landfill Gas (LFG)
- Global Biomass Power Generation Market: Regional Segment Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
- North America
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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