Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global biomass energy market. In addition, complete analysis of changes on the global biomass energy market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global biomass energy market was more or less affected due to supply chain distribution, declining demand for biomass energy from various application power and energy which has certainly affected the market growth to major extend. However, post COVID-19 the market has witnessed the rising new growth opportunities and is expected to have emerging demand in upcoming years.
The increasing government support through various government subsidies and policies drives the growth of the biomass electric power generation market. Due to the growing concerns about climate change and rising levels of greenhouse gases in the atmosphere resulting from the burning of fossil fuels such as coal and oil, new government policies are being framed to encourage sustainable power generation. For instance, In India, the Ministry of new and renewable energy under its National Biogas and Manure Management Programme (NBMMP) provides subsidies for setting up a family type biogas plants mainly for rural and semi-urban/households. The programme is implemented by the State Nodal Departments/State Nodal Agencies and Khadi and Village Industries Commission (KVIC), Biogas Development and Training Centers (BDTCs) and involves subsidies up to Rs.17,000 ($230) for setting up biogas plants.
The demand is increasing for an environment-friendly renewable source of energy due to improve public health as well as reduce global warming are introductory new opportunities for the key market players operating in the global biomass market. Mainly, biomass fuels were burned on inefficient open traditional stoves or fires. For some cases, the demand for biomass fuels far offsets sustainable supply which can make land degradation, desertification, or deforestation. These factors are liming the global biomass market in their growth.
However, inadequate biomass management, rise in feedstock costs, and lack of knowledge for utilizing biomass for producing energy among emerging economies are restraining the growth of global biomass market.
The growing competition from alternative energy sources such as solar, wind, geothermal is expected to limit the biomass electric power generation market. Unlike, wind power plants, biogas plants are affected by cold climates. The digesters in a biogas plant requires heat energy to maintain a constant biogas supply. The optimal temperature for bacteria to digest the waste product is around 37°C.In temperatures below 37°C, the digesters require additional heat energy to maintain a constant biogas supply. Also, the solar and wind energy plants use raw resources which are available in abundance whereas biogas production is only possible in rural areas where raw materials such as agricultural waste, manure, green waste or food waste are in constant supply. Thus, the popularity and ease of maintaining alternative energy sources such as solar, wind, geothermal restraints the growth of the biomass electric power generation market.
The report provides in-depth analysis of global biomass energy market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various biomass energy in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global biomass energy market comprises of different market segment like by feedstock, application, technology, and geography.
The feedstock studied in the global biomass energy market are solid biofuel, liquid biofuel, and biogas. In terms of revenue, the solid biofuel segment accounted for the maximum revenue share of 85.5% in 2021. The segment will expand further at a steady CAGR retaining its leading position throughout the forecast period. The easy availability and low cost of solid biofuelshave resulted in their higher adoption over liquid biofuels and biogas for power generation applications. On the other hand, the liquid biofuel segment is projected to record the fastest growth rate during the forecast period.
The global biomass energy market finds its major application in cooking, space heating/cooling, heat processing, electricity generation, and others. Among these, the heat processing segment is one of the largest markets for global biomass in 2021 and is expected to remain the largest market during the coming forecasted period.
Factors attributing to the growth of the heat processing segment is because mostly biomass is used for heating. In a direct burning system, biomass is burned to create hot gas, which can either be fed into a boiler for generating hot water/stream or be used directly to provide heat or. These factors are driving the global biomass market growth by heat processing segment.
The technology used for biomass energy in the market includes combustion, gasification, and anaerobic. The combustion technology segment holds the majority of market share, in term of revenue. Factors attributing the growth of combustion segment is due to biomass combustion offers a relatively cheap fuel source, provides self-sufficiency even during blackouts, and also cuts dependence on fossil fuels. These advantages are boosting the combustion segment for global biomass market.
The global biomass energy market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). Europe is likely to witness rising demand for biomass energy market. Factors attributing the growth of the European market for biomass because the production of energy from solid biomass has improved remarkably over the past two decades and peaked in 2017. Germany is the largest producer of biomass energy with France is the only other country with having an output in excess of ten million tons of oil equivalent. These applications are boosting the global biomass market.
The competitive landscape analysis of biomass energy market is certainly based range of market players operating in the food & beverage market with increasing demand for production of biomass energy. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in market are Veolia, Licella Holdings Ltd, Mitsubishi Heavy Industries, Ltd., Ramboll Group A/S, Xcel Energy Inc., Vattenfall AB, Alstom SA, Helius Energy PLC, MVV Energie AG, Sodra, Ørsted A/S, Enviva LP, Drax Group PLC, Ameresco, Weltec Biopower GMBH, EnviTec Biogas AG, Dalkia, Babcock & Wilcox Enterprises Inc., among others.
September 2021: According to the Malaysian Industry-Government Group for High Technology (MIGHT) ‘Biomass to energy’ (BTE) can help Malaysia in meeting green energy goals. The project organized by the EMOG Strategic Group and MIGHT using the method can reduce greenhouse gases (GHG) and meet sustainable development goals (SDG), as well as to provide job opportunities to university graduates.
September 2021: The Drax Group decided to become the primary big European power company to combine biomass power with carbon storage and capture in its quest to be carbon negative by 2030. University of British Columbia conveys that the province’s recent wildfires presses, the need for dead wood and debris to be removed from forest, to potentially converted into wood pellets.
Biomass power is a renewable source of energy that is derived from plants and animals. Biomass is helpful in the process of photosynthesis, wood and wood processing wastes, agricultural crops and waste materials, food, yard, and wood waste collection so as to use it as a fuel biomass provides much-needed relief from power shortages, and due to this the biomass power projects could generate employment in rural areas. The study analyzed the global Biomass energy market based on feed stock, technology, application, and geography. Solid, liquid, and biofuel are the feed stock type of the biomass energy market. The solid biofuel segment dominates the market, by feed stock. The technology use in the Biomass energy is combustion, gasification, and anaerobic. The combustion technology segment holds the majority of market share, in term of revenue. The market find application in residential, commercial, and industrial. The industrial segment holds the largest market share and is estimated to witness the highest CAGR during the forecast period. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, and the Rest of the World. Europe is likely to witness rising demand for biomass energy market.
1) What are the drivers for biomass energy market?
The key driving factors of the market are new developments aimed at using more biomass for fuel
2) Which is the leading application segment for biomass energy market?
Heat processing has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
3) Which region is gaining majority of market share during the forecast period (2022-2028)?
Europe is expected to gain major market share during the forecast period (2022-2028).
