Global Bioenergy Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing inclination towards renewable and non-fossil fuel-based energy sources, such as solid biomass, biogas, rising advancement in bioenergy conversion technologies and growing investment in bioenergy are anticipated drive the growth of Global Bioenergy Market.
Global Bioenergy market is valued at USD 371.04 Billion in 2020 and expected to reach USD 561.60 Billion by 2027 with the CAGR of 6.1% over the forecast period.
Bioenergy refers to a renewable source of energy that's made up of materials that are derived from biological sources. For instance, biomass may be a sort of bioenergy which will include manure, wood, waste, straw, sugarcane, and lots of such byproducts. Bioenergy is made from biomass or biofuel. Biomass is any natural material which has engrossed sunlight and stored it inside the sort of energy. The concept bio-energy isn't only about electricity but also can be utilized in heat and transportation applications. The global marketplace for bio-energy is rapidly evolving as a completely unique storm force within the energy market and represents numerous opportunities for both start-ups and traditional energy companies. Conventional energy companies across the world are now shifting their focus towards developing their capabilities into a highly lucrative market. The bio-energy market covers a variety of technologies including biomass electricity, electricity from waste combustion, bio-energy boilers, and energy from waste-heat among other technologies. Biomass electricity represents together of the main growth sectors within the overall market rapidly growing expansions in developing biomass electricity projects. The feedstock for biomass electricity includes waste wood, woodchip, manure, agricultural wastes, energy crops, and sewage sludge.
COVID-19 pandemic has affected the growth of global bioenergy market. The COVID-19 pandemic has broken the manufacturing cycles of a few organizations around the world. The production of bioenergy has shown a decline because of the social distancing and low labor force. At present because of COVID-19, the limitations on transportation, travel, work, and industries are required to cut billions of barrels of oil, and trillions of cubic meters of gas from the worldwide energy system in 2020 only.
The bioenergy market is segmented on the basis of type, feedstock, application, and region & country level. On the basis of type, the bioenergy market is classified as solid biomass, biogas, renewable waste and others. On the basis of feedstock, the market is classified as agricultural waste, wood and woody biomass, solid waste and others. On the basis of application, the bioenergy market is classified as power generation, heat generation, transportation and others
The regions covered in global bioenergy market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of bioenergy market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
On June 29th, 2021; Host developed a high-tech bioenergy plant with creative NO-NOx nuclear power conversion of leftover wood and waste streams. This improvement of technology brings about the least measured emission in the Netherlands. Also clean transformation and high accessibility, Host's designs guarantees quick development on location, streamlined, because of its modular development, bringing about lower costs. The 15 MWt bioenergy plant in Andijk, with NO-NOx thermal transformation technology, is the consequence of long periods of research and advancement at Host.
One of the major factors driving the growth of global bioenergy market is increasing inclination towards renewable and non-fossil fuel-based energy sources, such as solid biomass, biogas. For instance; as indicated by the US energy data, about 60% of this electricity generation was from non-renewable energy sources; petroleum, natural gas, coal and different gases. About 20% was from nuclear power, and about 20% was from renewable energy sources. In addition, rising advancements in bioenergy conversion technologies are also fostering the market growth. For instance; in April 2020, Ductor, the Finnish-Swiss bioenergy organization, announced the structure of three biofertilizer-biogas plants in Poland's Zachodniopomorskie district. Utilizing poultry waste, the plants will create sustainable power and natural nitrogen manure, improving Poland's shift towards circular. economy. Furthermore, growing investment in bioenergy is also supplementing the global bioenergy market growth.
However, risk of higher carbon emissions or lower biodiversity due to bioenergy expansion may hamper the global bioenergy market growth. In spite of that, the growing awareness towards the agriculture and forestry sectors and making deployment of waste materials can offer more opportunities for the further growth of the global bioenergy market over the forecast period.
Asia Pacific is expected to witness a fastest growth in the global bioenergy market due to the factors such as increasing demand for biofuels due to availability of limited resources. This has shifted focus of these countries toward biofuel manufacture in order to diminish dependency on imports. For instance; according to International Energy Agency, China’s biofuel production in 2019 was around 3 Mtoe (Millions of tonnes of oil equivalent) and is expected to grow at a rate of 15.3% between 2019 and 2025.
North America is the expected to show a significant growth in the global bioenergy market during the forecast period due to significant increases in ethanol production, technological advancement and presence of key players in this region. For instance; In February 2020, San Francisco-based Brightmark extended its dairy biogas project in Western New York under its """"Yellowjacket"""" project. Collaborating with six farms, the organization will separate methane from dairy fertilizer consistently and produce sustainable natural gas. For example, in February 2020, Canadian firm XEBEC ADSORPTION, a worldwide supplier of clean bioenergy arrangements, signed an arrangement with Bahler Biogas to foster a renewable natural gas (RNG) facility. The new incorporated office, to be built in Quebec, would deal with different natural waste for the creation of RNG and biofertilizers.
Middle East and Africa
Key Benefits for Global Bioenergy Market Report:
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 371.04 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 561.60 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||BTG Biomass Technology Group, and Babcock & Wilcox Volund A/S, Hitachi Zosen Corp, Biomass Engineering Ltd., Orsted A/S, Mitsubishi Heavy Industries Ltd and others|
|Segments Covered||By Type, By Feedstock, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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