Biomass is a renewable and sustainable energy source produced with assistance of energy crops, agricultural and forestry residues and biogenic wastes. Plants, both terrestrial and aquatic, and their derivatives generate biomass, or organic material. Cultivation and production must be done in a regulated manner to ensure the utilization of biomass for significant reduction of CO2 emissions.
Biomass power generation is the energy produced by renewable organic material obtained from decaying organic matter including plants and animals.
The global biomass power generation market was valued at USD 54.3 billion in 2021 and is expected to reach USD 107.2 billion in 2030 at a compound annual growth rate of 5.8% during the forecast period 2022-2030.
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Competitive Analysis:
Prominent Companies to Establish Various Corporate Strategies to Aid in Global Expansion. These players are focusing on strategic collaborations and partnerships to expand their market presence and strengthen their product portfolio.
Key Company
• Drax Group
• DONG Energy A/S
• Enel
• Engie
• EPH
• EDF
• RWE
• Iberdralo
• CEZ
• Babcock & Wilcox
• Ameresco, Inc
• John Wood Group
• Vattenfall AB
The production of biomass is expected to have a positive impact on biodiversity, carbon stocks, soil quality, and air quality. As environmental concerns have risen substantially, some nations have increased the percentage of renewable energy in their power mix, resulting in market growth of biomass power generation.
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Market Segmentation Analysis:
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Market segmentation creates subsets of a market based on product type, end user or application, Geographic, and other factor. By understanding the market segments, decision maker can leverage this targeting in product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Market Segmentation (by Type)
• Solid Biofuels
• Biogas
• Municipal Waste
Market Segmentation (by Application)
• Residential
• Industrial
• Commercial
Energy consumption has risen tremendously in recent years as a result of rapid urbanization and increasing global population. The vast majority of energy generated on a global scale is derived from conventional sources of fossil fuels, which release harmful greenhouse gas emissions when burned. In contrast, biomass is a carbon-neutral transporter that may considerably reduce GHG emissions. The International Energy Agency (IEA) has produced a biomass action plan which is further fueling market growth.
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NEWS:
In November 2022, a new report by the International Energy Agency (IEA) highlighted the potential for biomass to play a larger role in the global energy mix. The report suggested that by 2050, biomass could provide up to 60% of the world’s renewable energy, if policies and investment were put in place to support its growth.
Regional Data Analysis:
The regional market landscape has been categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Europe region is expected to dominate the market share of the global biomass power generation market owing to heavy dependency on coal for power generation. With the identification of shale gas reserves existing in the region and environment consciousness to reduce GHG emissions, countries including Germany, UK and Italy.
However, the Asia Pacific region is expected to witness the fastest growth during the forecast period owing to the government’s full electrification initiative and a disorganized grid system. The rising population and increasing per capita disposable income is expected to drive the market growth. Furthermore, with abundance of renewable sources of energy in the region, Asia-Pacific is projected to experience tremendous market expansion.
Browse Complete TOC @ https://www.extrapolate.com/toc/energy-and-power/biomass-power-generation-market-report/29578
Key Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Biomass Power Generation Market
Chapter 5. Global Biomass Power Generation Market Overview, By Feedstock, 2015 – 2028(USD Million)
Chapter 6. Global Biomass Power Generation Market Overview, By Technology, 2015 – 2028(USD Million)
Chapter 7. Global Biomass Power Generation Market Overview, By End-use Industry, 2015 – 2028(USD Million)
……..Continued
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