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Biomass Electricity Global Market 2024 - Latest Research, Industry Insights, Emerging Opportunities And Future Outlook By 2033
Biomass Electricity Global Market
As per the report, the biomass electricity market size has grown strongly in recent years. It will grow from $44.8 billion in 2023 to $48.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The biomass electricity market size is expected to see strong growth in the next few years. It will grow to $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
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Government Support Fuels Biomass Electricity Market Growth
The increasing government support through various government subsidies and policies is driving the growth of the biomass electricity market. Due to the growing concerns about climate change and the 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 family-type biogas plants mainly for rural and semi-urban households. The program 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 of up to Rs. 17,000 ($230) for setting up biogas plants.
Innovative Approaches In Biomass Electricity Generation
Companies in the biomass electricity market are developing new methods to produce electric power through new hybrid biogas plants by combining biogas with other forms of renewable energy sources such as solar energy. The combination of solar energy with biogas reduces the operating cost and effort required to deal with the waste products from the farms. Following suit, in August 2023, a new biogas power plant was launched in Sagamihara, Japan, which produces annually 1.9 million Nm3 biogas from pig feed waste and food waste using anaerobic digestion. The plant applies a combined heat and power (CHP) system to generate electricity and heat, which is supplied to the grid and used for the plant's operations.
The biomass electricity market covered in this report is segmented -
1) By Feedstock: Solid Biomass, Biogas, Municipal Solid Waste, Liquid Biomass
2) By Technology: Anaerobic Digestion, Combustion, Co-Firing, Gasification, Landfill Gas
3) By End-User: Households, Industrial Sector, Government Sector, Other End Users
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Major companies operating in the biomass electricity market report are Drax Group, EPH, Engie, EDF, Iberdrola, Acciona SA, RWE, Ørsted A/S, CEZ, Babcock and Wilcox, GGE Power, EnviTec Biogas AG, First Biogas International AG, Shenzhen Puxin Science & Technology Co. LTD, Mingshuo Environment Technology Group Co. Ltd., Clarke Energy, Seko Industries Srl, HC Energy, Agraferm Technologies AG, LMS Energy, Drax Power Limited, EDF Energy, E. ON UK, Centria Reti Gas, GASAG, Enagás, Italgas, Eni Gas & Power, Cadent Gas Ltd, Enercon, Nordez, Repower, Siemens, Wartsila Corporation, Suez Water, ACCIONA S.A., Ramboll, Graanul Invest Group, NaftoGaz Group, Iogen Corporation, Renewable Energy Group, Pond Technologies, Bio-Enpower Inc, Ag-West Bio, Airscience Technologies Inc. (Biogas), Ameresco Inc., Enviva Partners LP, N-Viro International Corporation, SolaGen Incorporated, FSE Energy Inc., BioDrill, Biomass Thermal Energy Council (BTEC), Taylor Biomass Energy LLC (TBE), American Biocarbon LLC., W2E, Carbon Green, Geradora de Energia Eletrica Alegrete, Liberty Green Renewables LLC, Usina Mandu, Brasil Biomassa e Energia Renovavel, Bem Brasil Alimentos Ltda., Ali Yaqoob Trading Co. L.L.C, Al Rahib Trading Co. LLC, Siemens LLC, Areva T & D, City Power Johannesburg (Pty) Ltd, Vuselela Energy (Pty) Ltd, Sonangol Group
Contents of the report:
1. Executive Summary
2. Biomass Electricity Market Report Structure
3. Biomass Electricity Market Trends And Strategies
4. Biomass Electricity Market - Macro Economic Scenario
5. Biomass Electricity Market Size And Growth
…..
27. Biomass Electricity Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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