Modular Biomass Power Plant: Introduction
- Rapid increase in industrialization population cross the globe over the last few decades has resulted in higher generation of waste. Governments and private companies are seeking environmentally-friendly power generation sources to reduce greenhouse gas and carbon emission.
- Modular biomass power plant can play a vital role in generation of power and heat, as it is compact in design and uses waste materials to produce power and heat. Thus, modular biomass power plant is expected to be ideal for remote locations.
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Key Drivers and Restraints of Modular Biomass Power Plant Market
- Increase in demand of renewable energy is the key driver of the global modular biomass power plant market. Rise in awareness about the environmental effects of fossil fuel has boosted the use of renewable sources for power and heat generation across the world. Biomass power plants can provide environmentally-friendly power and heat generation systems. According to the International Energy Agency, the trend of biomass power production is expected to rise during the forecast period
- Enactment of stringent regulations regarding waste disposal on landfill by governments is another key factor driving the modular biomass power plant market. Governments of various countries are promoting the use of biomass power plants, as it helps resolve the waste disposal issue by creating power and heat. Governments are also increasing the land fill tax; as a result, demand for modular biomass plants is expect to rise in the near future.
- High initial investment is estimated to hamper the global modular biomass power plant market. Companies prefer to utilize common sewage treatment plants, as these are easy to operate.
Global Modular Biomass Power Plant Market: Segmentation
- The global modular biomass power plant market can be segmented based on feedstock, capacity, and application
- In terms of feedstock, the global modular biomass power plant market can be divided into energy crop, agricultural crop residue, forestry residue, wood processing residue, municipal waste, and others. The municipal waste segment is expected to expand at a high CAGR during the forecast period, due to higher demand from municipal corporations across the world.
- Based on capacity, the global modular biomass power plant market can be segregated into 1 MW – 2 MW, 3 MW – 5 MW, 6 MW – 8 MW, and more than 8 MW. 1 MW – 2 MW and 3 MW – 5 MW segments are likely to expand at a high CAGR during the forecast period.
- In terms of application, the global modular biomass power plant market can be classified into heat generation, power generation, and others. The power generation segment is expected to expand at a rapid pace during the forecast period.
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Global Modular Biomass Power Plant Market: Regional Segmentation
- Based on region, the global modular biomass power plant market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- The market North America is estimated to expand at a significant pace over the next few years. The U.S. dominates the market in the region. Demand for biomass electricity generation has been rising at a significant pace in the country since the last few years.
- Europe is expected to be a lucrative region of the global modular biomass power plant market in the near future. Germany, Spain, and Italy are the prominent countries of the market in the region. Implementation of stringent government policies about waste landfill disposal is a key factor driving the modular biomass power plant market in Europe. For instance, the landfill disposal tax in the U.K. increased by 11% during 2016 to 2019.
- Asia Pacific is also a lucrative region of the global modular biomass power plant market. Significant rise in industrialization and urbanization since the last few years has been driving the demand for electricity in the region. Modular biomass plant can be an effective method for power generation and management of waste disposal in Asia Pacific.
- The market in Middle East & Africa and Latin America is estimated to expand at a steady pace during the forecast period. Steady increase in investment in biomass power plants is likely to drive the modular biomass power plant market in these regions during the forecast period.
Key Players Operating in Market:
- Valmet
- Metso Corporation
- AlliA
- Areva
- Xelpower Co., Ltd
- KIC InnoEnergy
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Global Modular Biomass Power Plant Market: Research Scope
Global Modular Biomass Power Plant Market, by Feedstock
- Energy Crop
- Agricultural Crop Residue
- Forestry Residue
- Wood Processing Residue
- Municipal Waste
- Others
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