Dublin, April 14, 2023 (GLOBE NEWSWIRE) -- The "Global Biomass Power Generation Market by Technology (Combustion, Gasification, Anaerobic Digestion, Pyrolysis), Feedstock (Agricultural Waste, Forest Waste, Animal Waste, Municipal Waste), Fuel (Solid, Liquid, Gaseous) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global biomass power generation market is estimated to grow from USD 91.3 Billion in 2023 to USD 105.7 Billion by 2028; it is expected to record a CAGR of 3.0% during the forecast period. Increase in the energy demand for in-house electricity generation from industrial sector which drives the biomass power generation market.
Forest Waste: The largest segment of the biomass power generation market, by feedstock
Based on feedstock, the biomass power generation market has been split into four types: Agriculture Waste, Forest Waste, Animal Waste and Municipal Waste. The forest waste were estimated to have the largest share of the biomass power generation market in 2022. Forest biomass waste is the by-product of forest harvesting, which includes wood chips, bark, sawdust, mill scrap, and timber slash. Forest waste has been used largely for power generation. As per estimates, China uses 50% of the forest biomass among the available energy resources to generate power and biofuel.
Gasification segment is expected to emerge as the second-largest segment based on technology
By technology, the biomass power generation market has been segmented into combustion, pyrolysis, gasification and anaerobic digestion. Gasification are expected to be the second largest share of the biomass power generation market in 2022. Gasification is becoming increasingly competitive in terms of cost, with the price of combustion and pyrolysis dropping significantly in recent years. They offer an opportunity for countries to reduce their reliance on improve energy security.
By fuel, the Solid Fuel segment is expected to be the fastest growing market during the forecast period
Based on Solid fuel, the biomass power generation market is segmented into solid fuel, liquid fuel and gaseous fuel. The Solid fuel segment is expected to be the fastest-growing segment during the forecast period. Woody biomass is mostly the preferred solid fuel for power generation. The US Department of Energy studied the impact of both fossil fuels and biomass solid fuels on global warming during the life cycle of a power generation facility.
Europe is expected to be the second largest growing region in the biomass power generation market
Europe is expected to be the second fastest biomass power generation market during the forecast period. The European Union implemented the European Green Deal to efficiently use clean energy sources for applications across industries, especially transportation and power. The initiative was implemented to reduce carbon emissions as a part of European net zero goals for waste, energy, and fuel by 2050.
Market Dynamics
Drivers
- Abundant Availability of Biomass Feedstocks
- Government-Led Initiatives to Boost Bioenergy Production
- Increasing Employment in Agriculture Industry and Growing Rural Development
- Rising Need to Control Greenhouse Gas (Ghg) Emissions
- Growing Use of Biomass for Power Generation by Co-Firing in Coal-Based Power Plants
Restraints
- Improper Supply Chain Management of Biomass
- Fluctuating and High Costs of Feedstocks
Opportunities
- High Depletion Rate of Fossil Fuels
- Advancements in Biomass Power Generation Techniques
Challenges
- Requirement for High Initial Investments
- Variability in Biomass Properties
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $91.3 Billion |
| Forecasted Market Value (USD) by 2028 | $105.7 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Biomass Power Generation Market, by Feedstock
6.1 Introduction
6.2 Agricultural Waste
6.2.1 Growing Need to Meet Energy Demands in Rural Areas
6.3 Forest Waste
6.3.1 Rising Demand for Wood Biomass
6.4 Animal Waste
6.4.1 Growing Use of Animal Waste to Produce Biogas
6.5 Municipal Waste
6.5.1 Stringent Government Policies Related to Disposal of Municipal Waste
7 Biomass Power Generation Market, by Technology
7.1 Introduction
7.2 Combustion
7.2.1 Presence of Favorable Government Policies Regarding Using Biomass Blends and Reducing Coal Use
7.3 Gasification
7.3.1 Increasing Number of Gasification Projects
7.4 Anaerobic Digestion
7.4.1 Excellent Properties of Anaerobic Digestion Technology
7.5 Pyrolysis
7.5.1 High Efficiency of Pyrolysis Technology in Electricity Generation
8 Biomass Power Generation Market, by Fuel
8.1 Introduction
8.2 Solid Fuel
8.2.1 Rising Preference for Wood Biomass as Solid Fuel for Power Generation
8.3 Liquid Fuel
8.3.1 Advancements in Technologies Used to Produce Liquid Fuel
8.4 Gaseous Fuel
8.4.1 Presence of Stringent Regulations Related to Landfills
9 Biomass Power Generation Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Acciona
- Babcock & Wilcox Enterprises, Inc.
- Belgian Eco Energy (Bee)
- D.E.S.I. Power
- Drax Group
- Edf Renewable Energy
- Enexor Energy LLC
- Engie
- Eph
- Greta Energy Limited
- Lahti Energia Oy
- Orsted A/S
- Renova Inc.
- Rwe
- Salzburg Ag
- Statkraft
- Vattenfall
- Veolia Energy Hungary Co. Ltd.
- Xcel Energy Inc.
- Yonago Biomass Power Generation LLC
For more information about this report visit https://www.researchandmarkets.com/r/ge8gl2
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