Bioenergy Market Sees Explosive Growth Globally

According to latest research report published by Market Data Forecast, the global bioenergy market size was estimated at USD 123.79 billion in 2023 and is anticipated to reach a valuation of USD 188.29 billion by 2029 and is predicted to register a CAGR of 8.75% from 2024-2029.

Bioenergy refers to a renewable energy source made from materials derived from biological sources. The growing concern for the environment and energy security is one of the main factors driving the expansion of the global bioenergy market. Since fossil fuels are minimal and energy is derived from fossil fuels, several countries are looking for alternatives to conventional energy sources. Bioenergy is gaining importance as one of the fastest-growing alternatives to traditional energy sources, helping to expand the energy mix and reduce dependency on worldwide oil markets.

Global Bioenergy Market Report Scope:

• Market Size (2029): USD 188.29 Billion
• Market Size (2023): USD 123.79 Billion
• CAGR (2024 to 2029): 8.75%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Product Type, Application, and Region.
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Amyris, Inc., BP Biofuels, Abengoa Bioenergy, Ceres Inc., Butamax Advanced Biofuels, Enerkem, E. I. du Pont de Nemours and Company, Joule Unlimited, Gevo, Inc., LanzaTech, POET LLC, Novozymes, Solazyme Inc., Sapphire Energy, and Zeachem Inc, and Others.

Market Drivers:

The global bioenergy market is growing at a significant rate. This is because of the renewable energy industry's rapid expansion brought about by rising investments and knowledge of its advantages in developing nations. Furthermore, compared to conventional energy, bioenergy is highly sought after due to its resources' higher biodegradability, lower carbon footprint, greater energy reliability, decreased landfill space, and improved air quality. Additionally, it can lessen the need for fossil fuels and energy costs. These are the main variables that are anticipated to propel the bioenergy market's growth rate.

Solid waste is widely used for a variety of applications, including the production of heat, sustainable power, transportation fuels, and other uses. During the course of the analysis, it is projected that this demand will drive the development rate of the bioenergy market and supply solid waste.

Additionally, the manufacturer are encouraged to grow their industry by using renewable energy sources. The market's growth rate will also be aided by elements like fast urbanisation, developing industrialization, and rising public awareness of the advantages of adopting bioenergy.

Market Restraints:

The bioenergy market is growing more slowly than it used to because of its high capital costs. In addition, there are numerous more logistical difficulties related to bioenergy. The bioenergy business is not expanding as quickly as it could due to the high upfront costs of installing bioenergy plants and the explosive growth of the electric vehicle industry. Moreover, the decline in crude oil prices could hinder the expansion of the bioenergy industry. The volatility of crude oil prices around the world has caused a sharp drop in the price of oil trade. The systemic demand and supply mismatch in the world's crude oil markets, which has decreased the appeal of bioethanol, biodiesel, and other alternative renewable fuels, is one of the causes contributing to the notable decline in oil prices.
Additionally, efficient supply chains are critical to the production of bioenergy since biomass typically has difficult seasonal production cycles and lower bulk densities of mass, energy, and mass. Furthermore, the demand for finished goods is frequently distributed, which makes the supply chain even more complex and, ultimately, limits market expansion. In addition to the difficulties that have been described, the intricacy can be seen in the deficiencies of the biomass supply chain models that are in use today, regardless of whether they focus on the entire chain or just one part of it. There is a substantial amount of data needed for these models. However, in many instances, the modelled analysis has not been field-tested on a big enough scale to gather performance data. The bioenergy market would be adversely affected during the forecast period by the time and money required for such data collection.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/bio-energy-market

Key Insights from The Report:

• Based on product type, the bioethanol segment captured the highest share of the global market in 2023.
• Based on application, the transportation segment occupied the majority of the global market share in 2023.
• North America dominated the bioenergy market in 2023. Europe accounted for the second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Product Type:
• Bioethanol
• Biogas
• Biodiesel
• Others

By Application:
• Cooking
• Off-Grid Electricity Supply
• Transportation
• Others

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year, and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Bioenergy Market, By Product Type
6.1.1 Bioethanol
6.1.2 Biogas
6.1.3 Biodiesel
6.1.4 Market Size Estimations & Forecasts (2024-2029)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Bioenergy Market, By Application
6.2.1 Cooking
6.2.2 Off-Grid Electricity Supply
6.2.3 Transportation
6.2.4 Market Size Estimations & Forecasts (2024-2029)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Bioenergy Market, by Region
7.2 North America - Market Analysis (2024-2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product Type
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product Type
7.6.3 By Application

8. Key Player Analysis
8.1 Amyris, Inc
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 BP Biofuels
8.3 Abengoa Bioenergy
8.4 Ceres Inc
8.5 Butamax Advanced Biofuels
8.6 Enerkem
8.7 E. I. du Pont de Nemours and Company
8.8 Joule Unlimited
8.9 Gevo, Inc
8.10 Novozymes

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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