The biomass power generation market share is expected to increase by 32.94 gigawatts from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.64%.
This biomass power generation market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers biomass power generation market segmentation by market landscape (solid biomass, biogas, municipal solid waste, and liquid biomass) and geography (APAC, Europe, North America, MEA, and South America). The biomass power generation market report also offers information on several market vendors, including Acciona SA, Ameresco Inc., Andritz AG, Babcock and Wilcox Enterprises Inc., E.ON UK plc., General Electric Co., John Wood Group Plc, Thermax Ltd., Valmet Oyj, and Vattenfall AB among others.
What will the Biomass Power Generation Market Size be During the Forecast Period?
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Biomass Power Generation Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing need for cleaner energy is notably driving the biomass power generation market growth, although factors such as increased project and feedstock costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the biomass power generation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Biomass Power Generation Market Driver
One of the key factors driving growth in the biomass power generation market is the growing need for cleaner energy. The burning of fossil fuels such as oil and coal has been a major contributor to the rising levels of GHGs in the atmosphere and the resulting climate change. This challenge can be addressed by replacing fossil fuels with renewable energy resources, such as biomass, geothermal, solar power, wind power, and hydropower, in power generation. The increasing energy demand, clean energy initiatives, and subsidies granted for power generation using sustainable sources promote the use of renewable energy sources. Governments of various countries are undertaking several initiatives to mitigate GHG emissions. Many countries are shifting their focus from conventional fuels to renewables to reduce the emission of hazardous gases that affect the environment. Biomass is a renewable energy source and is more abundant than fossil fuels. The harvest of biomass crops, which can be later used as renewable energy resources, can balance the CO2 content released into the atmosphere as these crops absorb the released CO2 for their growth. The continuous use of cleaner biomass energy and fuels can help control the emission of GHGs and CO2, which would minimize the effects of global warming.
Key Biomass Power Generation Market Trend
The advances in technology is another factor supporting the biomass power generation market share growth. The global biomass power generation market is witnessing considerable advancements in the practices involved in biomass energy production. The production costs of biomass energy have been reduced due to the development of enhanced harvesting and post-harvesting technologies. Biomass energy conversion can be technologically improved using multiple ways, such as employing enhanced fuel processing technologies, enhancing the efficiency of biomass energy conversion technologies, and improving the efficiency of end-user technologies. Complex tasks in the renewable energy sector are increasingly automated. Automation optimizes performance, saves time, and increases productivity. An online-based software known as biomass co-firing assessment and services (BCAS) has emerged, which integrates the basic properties of combustion and mineral matter transformation and improves biomass power plant operations. Such technological advances are expected to have a profound effect on the efficiency of biomass power plants and are expected to drive market growth.
Key Biomass Power Generation Market Challenge
The increased project and feedstock costs will be a major challenge for the biomass power generation market during the forecast period. Though biomass power-generation technologies will become more efficient in the long term, the initial investments and the cost of equipment are high. The cost and efficiency of biomass power generation equipment vary according to the technology, region, and nature of the feedstock. The prime mover, feedstock preparation, feedstock conversion technology, and handling machinery account for almost two-thirds of the capital costs of biomass power generation technologies. Biomass power plants run at a maximum capacity, which can generate at least twice the plant load factor than that of wind power and solar power. However, it comes at higher operational costs. Biomass power producers are also facing challenges due to the high costs of fuel coupled with the high expenses of handling and logistics of feedstocks and products. The increase in the cost of generating biomass power has been a significant challenge to the growth of the global biomass power generation market.
This biomass power generation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global biomass power generation market as a part of the global utilities market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the biomass power generation market during the forecast period.
Who are the Major Biomass Power Generation Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Acciona SA
- Ameresco Inc.
- Andritz AG
- Babcock and Wilcox Enterprises Inc.
- E.ON UK plc.
- General Electric Co.
- John Wood Group Plc
- Thermax Ltd.
- Valmet Oyj
- Vattenfall AB
This statistical study of the biomass power generation market encompasses successful business strategies deployed by the key vendors. The biomass power generation market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
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Acciona SA - The company offers biomass power generation under the brand name Acciona.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The biomass power generation market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Biomass Power Generation Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the biomass power generation market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the utilities market includes the following core components:
- Electricity generation
- Electricity transmission
- Electricity distribution
- End-customers
- Industry innovations
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Biomass Power Generation Market?
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51% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for biomass power generation in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Countries such as China, India, Japan, Thailand, South Korea, and Indonesia are increasingly focused on the adoption of biomass for carbon-neutral power generation. This will facilitate the biomass power generation market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the biomass power generation market in APAC witnessed a negative impact owing to the outbreak of COVID-19. The rising number of cases in the region compelled government authorities to impose lockdowns, which led to a temporary halt in the construction of new biomass power generation plants. Additionally, countries like India and Brazil are utilizing this Solar power for their daily activities However, the resumption of industrial activities by following proper sanitation guidelines and the initiation of vaccination drives are major factors that will propel the growth of the regional market during the forecast period.
What are the Revenue-generating Market Landscape Segments in the Biomass Power Generation Market?
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The biomass power generation market share growth by the solid biomass segment will be significant during the forecast period. Coal-based power generation results in the release of high greenhouse gas (GHG) emissions, due to which the demand for clean and efficient coal-fired power generation plants is high. The pre-mixing of coal with solid biomass produces a new kind of fuel that can be used in existing coal-fired boilers. Co-firing of solid biomass decreases the dependence of power plants on fossil fuels entirely and reduces the waste ash content and harmful sulfur and carbon emissions.
This report provides an accurate prediction of the contribution of all the segments to the growth of the biomass power generation market size and actionable market insights on post COVID-19 impact on each segment.
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Biomass Power Generation Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.64% |
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Market growth 2021-2025 |
32.94 GW |
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Market structure |
Fragmented |
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YoY growth (%) |
3.21 |
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Regional analysis |
APAC, Europe, North America, MEA, and South America |
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Performing market contribution |
APAC at 51% |
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Key consumer countries |
China, US, Brazil, India, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Acciona SA, Ameresco Inc., Andritz AG, Babcock and Wilcox Enterprises Inc., E.ON UK plc., General Electric Co., John Wood Group Plc, Thermax Ltd., Valmet Oyj, and Vattenfall AB |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Biomass Power Generation Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive biomass power generation market growth during the next five years
- Precise estimation of the biomass power generation market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the biomass power generation industry across APAC, Europe, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of biomass power generation market vendors
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