PUBLISHER: The Business Research Company | PRODUCT CODE: 1429344
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429344
Biomass electricity is generated through a process that involves burning biomass to produce product gas or syngas for electricity generation. The resulting producer gas is a mixture of carbon monoxide, hydrogen, carbon dioxide, methane, and nitrogen. The gasification process utilizes heat, pressure, and partial combustion when there is insufficient oxygen for complete biomass combustion.
The primary feedstock types in biomass electricity include solid biomass, biogas, municipal solid waste, and liquid biomass. Solid biomass, or feedstock, consists of compacted organic materials such as pellets that release stored energy through combustion. Various technologies employed for biomass electricity generation include anaerobic digestion, combustion, co-firing, gasification, landfill gas, and others. These technologies find application across diverse sectors such as households, industrial segments, government sectors, and more.
The biomass electricity market research report is one of a series of new reports from The Business Research Company that provides biomass electricity market statistics, including biomass electricity industry global market size, regional shares, competitors with a biomass electricity market share, detailed biomass electricity market segments, market trends and opportunities, and any further data you may need to thrive in the biomass electricity industry. This biomass electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biomass electricity market size has grown strongly in recent years. It will grow from $44.8 billion in 2023 to $48.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed during the historic period can be attributed to factors such as the growth of emerging markets, government incentives, a low-interest rate environment, and the high environmental impact of conventional power generation sources.
The biomass electricity market size is expected to see strong growth in the next few years. It will grow to $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. Forecasted growth is driven by global population growth, urbanization, increased investment in renewable power generation, and a focus on reducing dependence on foreign oil. Key trends include adopting bioenergy carbon capture and storage, transitioning conventional boilers for efficiency and emissions reduction, using anaerobic digestion for emission reduction, investing in waste-to-energy technologies, offering services through digital marketplaces, and utilizing artificial intelligence for biomass preprocessing enhancement.
The biomass electricity market is experiencing substantial growth due to government support in the form of subsidies and policies. This backing aims to address concerns about climate change and escalating greenhouse gas emissions resulting from the use of fossil fuels such as coal and oil. For instance, in India, the Ministry of New and Renewable Energy administers the National Biogas and Manure Management Programme (NBMMP), offering subsidies of up to Rs. 17,000 ($230) to establish biogas plants in rural and semi-urban households, encouraging sustainable power generation.
Investments in the energy sector are expected to drive the expansion of the biomass electricity market. This sector encompasses the production, distribution, and consumption of various energy forms. Increased financial support in the energy sector fosters the development and expansion of sustainable biomass projects, promoting renewable energy generation while diminishing reliance on fossil fuels. Notably, a 2022 report by the International Energy Agency projects an over 8% increase in global energy investment, reaching USD 2.4 trillion, further bolstering the growth of the biomass electricity market.
Companies within the biomass electricity market are innovating by creating hybrid biogas plants that combine biogas with other renewable energy sources, such as solar energy, to generate electric power. This innovative approach not only decreases operational costs but also simplifies the management of waste products from farms. Illustrating this trend, a newly launched biogas power plant in Sagamihara, Japan, as of August 2023, utilizes anaerobic digestion to produce 1.9 million Nm3 of biogas annually from pig feed waste and food waste. The plant employs a combined heat and power (CHP) system to generate both electricity and heat. This generated energy serves the grid and fulfills the plant's operational needs.
Prominent entities in the biomass electricity sector are adopting strategic partnership models to establish biomass power plants. Strategic partnerships involve leveraging each partner's strengths and resources for mutual benefits and success. For example, in April 2022, the Asian Development Bank (ADB), headquartered in the Philippines, collaborated with SAEL Industries Limited, an Indian agricultural industry firm. Their joint initiative aims to finance and construct five 14.9-megawatt biomass power plants in Rajasthan, India. These plants will utilize agricultural residues as feedstock, producing an estimated 544 gigawatt-hours of energy annually. This endeavor is projected to prevent up to 487,200 metric tons of carbon dioxide emissions annually. Furthermore, the project intends to repurpose agricultural residues, safeguard the environment, and enhance local farmers' income by selling agricultural residue.
In July 2021, ReGenerate Energy Holdings, LLC., a US-based company specializing in environmental sustainability in renewable energy, successfully acquired Albany Green Energy. This acquisition aligns with ReGenerate Energy Holdings' strategy to develop and expand its bioenergy business. Albany Green Energy, the acquired entity, is a US-based biomass heat-and-power facility utilizing woody biomass from various sources, including mill residue, forestry waste, recycling, and agricultural waste. The facility provides 50 megawatts of electricity to Georgia Power.
Major companies operating in the biomass electricity market report are Drax Group, EPH, Engie, EDF, Iberdrola, Acciona SA, RWE, Ørsted A/S, CEZ, Babcock and Wilcox, GGE Power, EnviTec Biogas AG, First Biogas International AG, Shenzhen Puxin Science & Technology Co. Ltd., Mingshuo Environment Technology Group Co. Ltd., Clarke Energy, Seko Industries Srl, HC Energy, Agraferm Technologies AG, LMS Energy, Drax Power Limited, EDF Energy, E. ON UK, Centria Reti Gas, GASAG, Enagas, Italgas, Eni Gas & Power, Cadent Gas Ltd., Enercon, Nordez, Repower, Siemens, Wartsila Corporation, Suez Water, ACCIONA S.A., Ramboll, Graanul Invest Group, NaftoGaz Group, Iogen Corporation, Renewable Energy Group, Pond Technologies, Bio-Enpower Inc., Ag-West Bio, Airscience Technologies Inc. (Biogas), Ameresco Inc., Enviva Partners LP, N-Viro International Corporation, SolaGen Incorporated, FSE Energy Inc., BioDrill, Biomass Thermal Energy Council (BTEC), Taylor Biomass Energy LLC (TBE), American Biocarbon LLC., W2E, Carbon Green, Geradora de Energia Eletrica Alegrete, Liberty Green Renewables LLC, Usina Mandu, Brasil Biomassa e Energia Renovavel, Bem Brasil Alimentos Ltda., Ali Yaqoob Trading Co. L.L.C, Al Rahib Trading Co. LLC, Siemens LLC, Areva T & D, City Power Johannesburg (Pty) Ltd., Vuselela Energy (Pty) Ltd., Sonangol Group
Western Europe was the largest region in the biomass electricity market in 2023. Asia-Pacific was the second-largest region in the global biomass market analysis. The regions covered in the biomass electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the biomass electricity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The biomass electricity market includes revenues earned by entities by wood and agricultural products, landfill gas and biogas, and alcohol fuels such as Ethanol or Biodiesel. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biomass Electricity Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biomass electricity market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biomass electricity? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biomass electricity market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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