Press release
Bioenergy Market Share, New Opportunities, Future Scope 2024-2033
Bioenergy Market
The Business Research Company presents an extensive market research report on the Bioenergy Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The bioenergy market size has grown strongly in recent years. It will grow from $271.17 billion in 2023 to $296.74 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to fossil fuel dependency concerns, energy security initiatives, rise in environmental awareness, agricultural residue utilization, industry shift towards renewable energy.
The bioenergy market size is expected to see strong growth in the next few years. It will grow to $424.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to market expansion in developing regions, urban waste-to-energy initiatives, global agricultural trends, industrial applications expansion, advancements in biomass conversion. Major trends in the forecast period include transition to biorefineries, public-private partnerships, decentralized energy production, biofuels in transportation, policy support and incentives.
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Key Market Players:
Major companies operating in the bioenergy market report are Babcock and Wilcox Enterprises Inc., Orsted A/S, Hitachi Zosen Corporation, Pacific Bioenergy Corp., Enerkem Inc., MVV Energie AG, Enexor Energy LLC, Lignetics Inc., Green Plains Inc., Enviva Partners LP, POET LLC, Drax Group plc, Ameresco Inc., Archer Daniels Midland Company, EnviTec Biogas AG, CropEnergies AG, Abengoa Bioenergy US Holding LLC, Novozymes A/S, Alto Ingredients Inc., Valero Energy Corporation, BP Biofuels North America LLC, Cargill Inc., DuPont Industrial Biosciences USA LLC, Gevo Inc., LanzaTech Inc., Mascoma LLC, Myriant Corporation, Sapphire Energy Inc., Solazyme Inc., Amyris Inc., Butamax Advanced Biofuels LLC, Coskata Inc., Genomatica Inc., LS9 Inc., NexSteppe Inc., Renmatix Inc., Terrabon Inc., Virent Inc., Algenol Biofuels Inc.
Market Drivers:
Increasing demand for energy targets to reduce carbon emissions is expected to propel the growth of the bioenergy market going forward. Greenhouse gas emissions from human activities are responsible for the greenhouse effect, in which carbon dioxide from burning fossil fuels affects the climate. To reduce these emissions, countries are taking several steps to reduce carbon emissions. Bioenergy helps in achieving those targets by reducing carbon emissions and providing natural sources. For instance, the United States has set some targets to reduce net GHG emissions by 50-52% in 2030. Therefore, increasing demand for energy targets to reduce carbon emissions drives the bioenergy market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/bioenergy-global-market-report
The bioenergy market covered in this report is segmented -
1) By Type: Biomass and Renewable Municipal Waste, Biogas, Liquid Biofuels
2) By Technology: Gasification, Fast Pyrolysis, Fermentation, Other Technologies
3) By Application: Power Generation, Heat Generation, Transportation, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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