Bioenergy Market Insights: Size, Overview, Analysis Report 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Bioenergy Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $61.97 billion In 2028 At A CAGR Of 15.0% :

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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Bioenergy Market Major Segments
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

Key Driver - Ambitious Carbon Reduction Targets Drive The Bioenergy Market

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.

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Prominent Trend - Advancements In Bioenergy Conversion Technologies

Advancements in bioenergy conversion technologies are a key trend gaining popularity in the bioenergy market. Major companies in the bioenergy market are advancing their new technologies, research, and developments in bioenergy to sustain their position in the market. For instance, in September 2023, BASF SE, a Germany-based chemical company launched biomass balance plastic additives. These products encourage the substitution of renewable feedstock for fossil fuels, assisting clients in reducing their carbon footprint, conserving fossil fuels, and maximizing their use of renewable feedstock. These goods should offer the same level of performance and quality as those that customers are used to but with the added benefit of being a sustainable drop-in solution and actively contributing to environmental preservation .

Bioenergy 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.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the bioenergy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioenergy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Bioenergy Market Report Structure
3. Bioenergy Market Trends And Strategies
4. Bioenergy Market - Macro Economic Scenario
5. Bioenergy Market Size And Growth
…..
27. Bioenergy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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