The global biomass power generation market is anticipated to grow at a considerable CAGR of around 8.5% during the forecast period (2021-2027). Biomass refers to biodegradable organic materials which are non-fossilized and originate from biological sources resulting from animals, plants, and micro-organisms. The increasing demand for clean energy is driving the growth of the biomass power generation industry. In 2019 there, was 30-fold growth in annual solar generation in comparison to 2010, an increase of 103,652 GWh.
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However, some factors are restraining the market growth such as high cost for minimum quantity, slow awareness of biomass energy technologies, and increased cost of feedstock. These are the factors that are hindering the market growth. However, research and development (R&D) to commercialize the use of biomass for power generation, and technological advancements are the major factors that are estimated to create future growth opportunities for the biomass power generation market across the globe.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Segment Covered-
· By Feedstock
· By Technology
· By End-User
Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
Competitive Landscape- Drax Group PLC, Ameresco Inc., Alstom SA, Forth Energy Ltd., Helius Energy PLC, Enviva LP, and The Babcock & Wilcox Co.
Key questions addressed by the report
· What is the market growth rate?
· Which segment and region dominate the market in the base year?
· Which segment and region will project the fastest growth in the market?
· How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
· Who is the leader in the market?
· How are players addressing challenges to sustain growth?
· Where is the investment opportunity?
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Global Biomass Power Generation Market Report Segment
By Feedstock
· Solid Biofuel
· Liquid Biofuel
· Biogas
By Technology
· Gasification
· Anaerobic Digestion
· Combustion
By End-User
· Household
· Industrial Sector
· Government Sector
· Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
