Market Research Report
Global Biomass Power Generation Market Research and Forecast 2017-2022
|Published by||Orion Market Research Pvt Ltd||Product code||599604|
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|Global Biomass Power Generation Market Research and Forecast 2017-2022|
|Published: November 30, 2017||Content info:||
The Biomass power generation market is expected to grow at a modest CAGR of 6.20% during the forecast period (2017-2022). Biomass refers to biodegradable organic materials which are non-fossilized and originate from biological sources resulting from animals, plants and micro-organisms. Biomass contains wastes, residues and by products from woods, agriculture industries as well as biodegradable organic fractions of municipal & industrial wastes. Biomass also refers to waste from food processing industries, urban and industrial residues, agriculture and wood wastes, wood, sawdust, short rotation woody crops and a host of other materials. It is used as a source of energy input for the electricity generation, provision of heat and as a fuel in the transportation sector. Biomass is an environment-friendly, carbon-neutral and sustainable source of power generation with an important potential to reduce reliance on fossil fuels.
The Biomass power generation adoption is increasing across the globe to meet policy targets for reliable and secure source of energy to encourage economic expansion and improve electricity access. Biomass power generation distinct from the other alternative sources and can also provide base load power which is likely to foster additional growth in the biomass power generation market. It is the clean sources of renewable energy that form an important part of the solution to economic, environmental, climate and security challenges stood by the effective utilization of fossil fuels. Biomass used for power generation with a low-carbon and sustainable alternative to fossil fuels, allow the local communities to use domestic biomass resources. The utilization of biomass resources for power and energy generation forms a significant part of the strategic advantages by various government institutions. These initiatives aim to re-organize the national energy economies and augment the share of renewable energy in the whole power generation mix.
The biomass power generation market has been segmented majorly into two parts which includes feedstock and technology. On the basic of feedstock, the industry has been segmented into wood biomass, biogas & energy crops, agriculture & forest residues, urban residues and landfill gas feedstock. On this basis of technology, the biomass power generation market has been bifurcated into anaerobic digestion, combustion, co-firing & CHP, , gasification and landfill gas..
The global biomass power generation market is regionally divided into North America, Europe, Latin America, Asia Pacific and the Middle East and Africa. Countries in Europe and North America boast of favorable controlling framework outlines and government support which boosts the development as well as use of biomass for power generation. Incentives, funding programs, grants, investment subsidies and tax benefits play a major role in increasing the biomass power generation market in countries such as the UK, the US, and Germany. Developing economies such as Indonesia, Poland India, China and Australia have also been suggesting government legislations to fuel investments in biomass power generation. China is considered to be one of the major player of the biomass power generation.
Key companies in the global biomass power generation market include DONG Energy A/S, Drax Group plc, Ameresco Inc., Alstom SA, Forth Energy Ltd., Helius Energy Plc, Enviva LP, The Babcock & Wilcox Company, MGT Power Ltd and Vattenfall AB. Merger and acquisition, partnership, collaboration, expansion and so forth are the key strategies adopted by the biomass power generation market. For example in July 2017, DONG Energy and Siemens signed an agreement with Belgian GeoSea stating that GeoSea will acquire the full ownership of A2SEA. However, A2SEA will continue to operate out of Denmark with offshore wind turbine service and installation.
Biomass power generation market is segmented on the basis of feedstock. The major segment in Biomass power generation market by feedstock and technology includes Woody Biomass, Agriculture & Forest Residues, Biogas & Energy Crops, Urban Residues, Landfill Gas Feedstock, Anaerobic Digestion, Combustion, Gasification, Co-firing & CHP and Landfill Gas (LFG). Woody biomass and currently holds the major share of the biomass power generation market in terms of utilization, this followed by agriculture and forest residues. Most economies determine for woody biomass as feedstock since it allows limiting climate change & keeping away from fossil fuels and enlarge the share of biomass in the total power generation mix. The combustion segment held the largest share of the biomass power generation market. Biomass power generation market has been segmented based on end users as households, industrial sector, government sectors and others.
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