The Business Research Company's Biomass Electricity Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
Strong Future Growth Anticipated
The biomass electricity market is projected to continue its strong growth, reaching $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to the global population growth and urbanization, rising investment for renewable power generation, focus on reducing foreign oil dependence, and alternative sources of power generation.
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Growth Driver Of The Biomass Electricity Market
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.
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Major Players And Market Trends
Key players in the biomass electricity market include Drax Group, EPH, Engie, EDF, Iberdrola, Acciona SA, RWE, Ørsted A/S, CEZ, Babcock and Wilcox, GGE Power, EnviTec Biogas AG.
Major companies operating in the biomass electricity market are adopting a strategic partnership approach to construct biomass power plants. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
Segments:
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
Geographical Insights: Western Europe Leading The Market
Western Europe was the largest region in the biomass electricity market in 2023. Asia-Pacific was the second-largest region in the global biomass market analysis. The regions covered in the biomass electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Biomass Electricity Market Definition
Biomass electricity refers to the electricity generated by a process that involves the burning of biomass for the generation of product gas or syngas for the production of electricity. Producer gas is a combustible gas mixture of carbon monoxide, hydrogen, carbon dioxide, methane, and nitrogen. The gasification process uses heat, pressure, and partial combustion, which takes place when the air supply (O2) is inadequate for the combustion of biomass.
Biomass Electricity Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Biomass Electricity Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on biomass electricity market size, biomass electricity market drivers and trends, biomass electricity market major players, biomass electricity competitors' revenues, biomass electricity market positioning, and biomass electricity market growth across geographies. The biomass electricity market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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