Biomass is another type of input material utilized to produce electricity.Energy is utilized to perform a task.
NEWARK, UNITED STATES, June 10, 2022 /EINPresswire.com/ — The Brainy Insights launched a study titled Biomass Power Generation Market Size by Feedstock (Woody Biomass, Municipal Solid Waste, Solid Biomass, Biogas, Urban Residue, Liquid Biomass, Energy Crops, Agriculture and Forest Residue, & Others), Technology (Anaerobic Digestion, Combustion, Gasification, Pyrolysis, Landfill Gas, & Others), Application, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030.
The global biomass power generation market is expected to grow from 46.98 billion in 2021 to USD 84.78 billion by 2030, at a CAGR of 6.78% during the forecast period 2022-2030. Increased concern about climate change caused by overexploitation of fossil fuels and their non-renewable nature have resulted in government laws and policies directed towards scaling up alternative renewable sources of energy like biomass, driving the market for biomass power generation. The increased awareness about the two-fold benefit provided by biomass, namely, reduction in overall garbage on earth and the production of clean energy, will also significantly contribute to the development of the global biomass power generation market. The urgent need to reduce carbon emissions to sustain the quality of life for future generations on the earth, the use of biomass to produce energy is encouraged, and its growing adoption are likely going to be the reasons which provide an impetus for its demand and development.
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The solid biomass segment dominated the market, with a market value of around 27.24 billion in 2021.
The feedstock segment is divided into woody biomass, municipal solid waste, solid biomass, biogas, urban residue, liquid biomass, energy crops, agriculture and forest residue, & others. The solid biomass segment dominated the market, with a market value of around 27.24 billion in 2021.
The combustion segment is expected to grow at the fastest CAGR of 7.51% over the forecast period.
The technology segment is divided into anaerobic digestion, combustion, gasification, pyrolysis, landfill gas, & others. Over the forecast period, the combustion segment is expected to grow at the fastest CAGR of 7.51%.
The industrial segment dominated the market, accounting for around 23.02 billion in global revenue.
The application segment is divided into commercial, industrial, and residential. The industrial segment dominated the market, accounting for around 23.02 billion in global revenue.
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Regional Segmentation Analysis:
The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific region is expected to grow the fastest during the forecast period. The biomass power generation market in the Asia Pacific has been expanding rapidly. With the growing international pressure on the developing countries of the Asia-Pacific like China and India about climate change and net emissions, there has been an increase in government subsidies to increase production capacity and encourage innovations in the biomass power generation industry.
The Brainy Insights has segmented the global biomass power generation market based on below-mentioned segments:
• Woody Biomass
• Municipal Solid Waste
• Solid Biomass
• Urban Residue
• Liquid Biomass
• Energy Crops
• Agriculture and Forest Residue
by Product Type:
• Anaerobic Digestion
• Landfill Gas
The market’s major players include E. ON SE, Ameresco Inc., Babcock & Wilcox Enterprises Inc., John Wood Group PLC, Weltec Biopower GmbH, and EnviTec Biogas AG, Engie, Oulun Energia Oy, ACCIONA, and Indus Green Bio Energy Pvt. Ltd, among others.
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