MARKET OVERVIEW
Biomass fuel is a renewable source of energy, which is derived from organic material, a sustainable and renewable source of energy, that creates electricity or other forms of power. Fossil fuels are not only scarce and non-renewable but also harmful to the environment and impact the health of people around the world. For these reasons, clean and renewable energy sources like biomass are, making it an ideal solution for power generation. Technological advances and innovations can reduce installation costs and inefficiencies beyond the constraints on the development of the global Biomass for Electricity Generation Market.
MARKET SCOPE
The "Global Biomass for Electricity Generation Market Analysis 2028" is a specialized and in-depth study of the biomass for electricity generation market with a special focus on the global market trend analysis. The report aims to provide an overview of biomass for electricity generation market with detailed market segmentation by feedstock, application, and geography. The global biomass for electricity generation market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading biomass for electricity generation market players and offers key trends and opportunities in the biomass for electricity generation market.
MARKET SEGMENTATION
-The global biomass for electricity generation market is segmented on the basis of feedstock, technology, and application.
-Based on feedstock, the market is divided into solid biomass, liquid biomass, biogas, and municipal solid waste.
-Based on application, the market is segmented into residential, commercial, and industrial.
-Based on technology, the market is segmented into combustion, gasification, and pyrolysis.
MARKET DYNAMICS
Drivers-
-Increase in use of renewable sources of energy and surge in demand from power production companies are driving the need for solid biomass.
-Upsurge in demand for environment-friendly renewable sources of energy act as an opportunity for the biomass for electricity generation market, as the use of renewable energy would help to improve public health and reduce global warming.
Restraints
-Mismanagement of biomass and lack of awareness among developing economies can restrict market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global biomass for electricity generation market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. The biomass for electricity generation market by each region is later sub-segmented by respective countries and segments. The report covers an analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.
The report analyzes factors affecting biomass for the electricity generation market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive pestle analysis of the global scenario.
IMPACT OF COVID-19 ON BIOMASS FOR ELECTRICITY GENERATION MARKET
The global biomass fuel market has been severely impacted by the outbreak of the COVID-19 pandemic. Power producers that rely on peak prices for revenue could be adversely affected by COVID-19, especially coal and natural gas. Low peak demand can lead to less fossil fuel use and relatively more renewable energy use in the power generation stack. Most renewable energy projects have long-term PPAs and are likely to have a low impact on the bottom line. However, merchant projects without a PPA are expected to be affected by lower market prices. Demand for electricity was down during the pandemic in 2020 across Europe and India with confinement measures but steadily recovered as measures were gradually softened. Research and development activities in the field of power generation from biomass are also contributing to the market growth. Market players are investing heavily in their R&D activities to improve profitability. A large investment could ultimately have a positive impact on the overall biomass power generation market. For instance, in October 2021, Siemens Energy announced its first biorefinery in Germany. The biorefinery is the first industrial-scale facility of this type ever built. Such developments are contributing to the recovery and growth of the biomass for electricity generation market.
MARKET PLAYERS
The reports cover key developments in the biomass for the electricity generation market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from biomass for the electricity generation market are anticipated to lucrative growth opportunities in the future with the rising demand for explosive ordnance disposal in the global market. Below mentioned is the list of few companies engaged in the biomass for the electricity generation market.
The report also includes the profiles of key biomass for the electricity generation companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
-Babcock & Wilcox Enterprises Inc.
-E.ON SE
-General Electric Co.
-John Wood Group Plc
-Thermax Ltd.
-Valmet Oyj
-Acciona SA
-AmerescInc
-Andritz AG
-Vattenfall AB.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.