Biomass Power Generation Market by Technology (Combustion, Gasification, Anaerobic Digestion, Pyrolysis), Feedstock (Agricultural Waste, Forest Waste, Animal Waste, Municipal Waste), Fuel (Solid, Liquid, Gaseous) and Region – Global Forecast to 2028

“The biomass power generation market is projected to grow at a CAGR of 3.0% from 2023 to 2028”

The global biomass power generation market is estimated to grow from USD 91.3 Billion in 2023 to USD 105.7 Billion by 2028; it is expected to record a CAGR of 3.0% during the forecast period. Increase in the energy demand for in-house electricity generation from industrial sector which drives the biomass power generation market.

Forest Waste: The largest segment of the biomass power generation market, by feedstock “

Based on feedstock, the biomass power generation market has been split into four types: Agriculture Waste, Forest Waste, Animal Waste and Municipal Waste. The forest waste were estimated to have the largest share of the biomass power generation market in 2022. Forest biomass waste is the by-product of forest harvesting, which includes wood chips, bark, sawdust, mill scrap, and timber slash. Forest waste has been used largely for power generation. As per estimates, China uses 50% of the forest biomass among the available energy resources to generate power and biofuel.

“Gasification segment is expected to emerge as the second-largest segment based on technology”

By technology, the biomass power generation market has been segmented into combustion, pyrolysis, gasification and anaerobic digestion. Gasification are expected to be the second largest share of the biomass power generation market in 2022. Gasification is becoming increasingly competitive in terms of cost, with the price of combustion and pyrolysis dropping significantly in recent years. They offer an opportunity for countries to reduce their reliance on improve energy security.

“By fuel, the Solid Fuel segment is expected to be the fastest growing market during the forecast period.”

Based on Solid fuel, the biomass power generation market is segmented into solid fuel, liquid fuel and gaseous fuel. The  Solid fuel segment is expected to be the fastest-growing segment during the forecast period. Woody biomass is mostly the preferred solid fuel for power generation. The US Department of Energy studied the impact of both fossil fuels and biomass solid fuels on global warming during the life cycle of a power generation facility.

Europe is expected to  be the second largest growing region in the biomass power generation market 

Europe is expected to be the second fastest biomass power generation market during the forecast period. The European Union implemented the European Green Deal to efficiently use clean energy sources for applications across industries, especially transportation and power. The initiative was implemented to reduce carbon emissions as a part of European net zero goals for waste, energy, and fuel by 2050.

Read More @ https://www.reportsnreports.com/reports/6948085-biomass-power-generation-market-by-technology-combustion-gasification-anaerobic-digestion-pyrolysis-feedstock-agricultural-waste-forest-waste-animal-waste-municipal-waste-fuel-solid-liquid-gaseous-an-st-to-2028.html

Share This Post