Biomass Solid Fuel Market Growth Drivers, Regional Scope, CAGR Estimation, Competitive Landscape & Research Forecast to 2030 | Svenska Cellulosa Aktiebolaget SCA

Global biomass solid fuel market is projected to reach around US$ 501.6 Billion by the end of 2030, in terms of revenue, growing at CAGR of 9.7% during the forecast period (2023-2030).

Market Overview:

Biomass solid fuel refers to fuel sources derived from biological material such as wood pellets, wood chips, and firewood. They are used for electricity generation and heating purposes.

Market Dynamics:

Biomass solid fuel offers a viable and environment-friendly alternative to fossil fuels such as coal and petroleum. Stringent environmental regulations aimed at reducing emissions are encouraging industries and households to switch to biomass solid fuels. Additionally, volatility in fossil fuel prices and the need for stable as well as indigenous sources of energy are also driving the adoption of biomass solid fuels. Furthermore, initiatives of governments to promote the use of renewable sources of energy through public funding and incentives are further propelling the biomass solid fuel market growth during the forecast period.

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Major market players included in this report are:

★ Svenska Cellulosa Aktiebolaget SCA
★ BTG Biomass Technology Group
★ Eni S.p.A.
★ Fulcrum BioEnergy
★ SOCOTEC Group
★ Drax Biomass Inc.
★ Aggregated Micro Power Holdings plc
★ PVM Environmental Products
★ VGrid Energy Systems
★ Vattenfall AB

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Source:
✦ Wood Pellets
✦ Crop Residue
✦ Energy Crops
✦ Municipal Solid Waste (MSW)
✦ Others (Peat, Sawdust, etc.)

By Application:
✦ Space Heating/Cooling
✦ Cooking
✦ Heat Processing
✦ Electricity Generation
✦ Others

By End Use:
✦ Industrial
✦ Institutional
✦ Domestic

Regional Analysis:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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✦ Two Main Market Drivers Stimulating Growth in the Biomass Solid Fuel Market

• The increasing demand for renewable energy sources is boosting the biomass solid fuel market. Governments across the globe are promoting the use of renewable energy to reduce dependence on fossil fuels for energy needs and to lower carbon emissions. Biomass solid fuels generate far less greenhouse gases than fossil fuels and are considered carbon neutral. The growing awareness about the negative environmental impact of fossil fuels is driving the replacement of coal and other fossil fuels with biomass solid fuels for applications like power generation and industrial heating.

• Rising concerns about energy security are another key factor propelling the biomass solid fuel market forward. Many countries are exploring alternative fuel sources to fossil fuels which are subject to price and supply volatility in international markets. Biomass solid fuels can be domestically produced from agricultural residues and waste wood materials. This enhances the energy security of nations and makes their energy supply chain independent of geopolitical issues associated with oil and natural gas importing countries. The stable indigenous availability of biomass feedstock is stimulating investments in biomass solid fuel production facilities.

✦ One Major Market Restrain Hindering the Growth of the Biomass Solid Fuel Market

High transportation and logistical costs associated with biomass feedstock limit the full potential of the biomass solid fuel market. Biomass feedstock mainly includes agricultural crop residues and waste wood from forestry or timber industries which are located in rural areas far from industrial demand centers. Transporting bulky and low-density biomass over long distances to centralized thermal power stations or large biomass processing plants involves high costs. The dispersed nature of biomass feedstock resources requires sophisticated collection, preprocessing, densification and logistical operations to aggregate, process and transport biomass on a large commercial scale. These activities substantially increase the price of biomass solid fuels compared to coal. Unless innovative solutions are found to reduce biomass handling and transportation expenses, high input costs will continue restricting greater biomass utilization.

✦ One Promising Market Opportunity for Growth in the Biomass Solid Fuel Market

The growing demand for co-firing biomass with coal and natural gas presents a major market opportunity. Co-firing biomass involves the simultaneous combustion of biomass and fossil fuels in existing thermal power generation facilities. It allows the partial substitution of fossil fuels with carbon-neutral biomass, thereby lowering the greenhouse gas emissions of conventional power plants. Many power generators are actively exploring co-firing options as it only requires relatively minor retrofitting of combustion systems and enables the utilization of biomass without substantial new investments. As governments implement stricter environmental legislations, co-firing offers utilities and industries an easier transition path to significantly cut carbon emissions from their existing energy infrastructure in a cost-effective manner. This growing application of biomass solid fuels for co-firing purposes will likely drive higher consumption globally.

✦ One Key Market Trend Influencing the Biomass Solid Fuel Space

The rising acceptance of advanced thermochemical conversion technologies for biomass is an important emerging trend in the industry. Technologies like pyrolysis, gasification and liquefaction are gaining ground as they enable the conversion of biomass feedstock into high energy density solid, liquid and gaseous fuels that are more feasible for applications requiring transportation over long distances. These biofuels have energy densities close to fossil fuels and can replace coal, oil and natural gas directly. Advanced conversion routes enhance the energy value that can be extracted from biomass and overcome some logistical limitations associated with low bulk density biomass. As these technologies attain commercial maturity and costs decline due to economies of scale, they will facilitate greater geographic utilization of biomass resources for various transportation and industrial energy needs, substantially growing the biomass solid fuel market.

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Key Questions

• How much revenue will the global Biomass Solid Fuel Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Biomass Solid Fuel Market?

• What are the indicators expected to drive the global Biomass Solid Fuel Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Biomass Solid Fuel Market to expand their geographical presence?

• What are the major advancements witnessed in the global Biomass Solid Fuel Market?

• This report answers these questions and more about the global Biomass Solid Fuel Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Biomass Solid Fuel Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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