The global biomass power generation market has
been prognosticated by Transparency Market Research (TMR) to reveal a
fragmented nature because of the presence of a hefty count of players
looking to establish their business in the industry. Some of the
prominent names in the market could be Forth Energy Ltd., Helius
Energy Plc, Ameresco, Inc., The Babcock & Wilcox Company, and
DONG Energy A/S. In order to set a stronger foothold in the market,
most players have been anticipated to take to various business
strategies, including acquisition, partnership, and product
innovation.
Japan was selected as a choice market to
inaugurate a biomass power generation project by a joint venture
between Mitsubishi Corporation Power Systems, Inc. and The Kansai
Electric Power Co., Inc. (KEPCO) in April 2017. This undertaking has
been aimed at curbing overall carbon emissions by preferring the
usage of woody biomass over crude or heavy oil.
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comprehensive overview of the Biomass Power Generation market. Browse
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According to a new
study penned by TMR, the global biomass power generation market has
been predicted to attain a valuation of US$50.52 bn by 2022. On the
basis of feedstock, woody biomass could attract a larger share in the
market, thanks to its cost-efficient and eco-friendly boons.
Geographically, North America has been forecasted to take the lead on
the back of encouraging government support and promising regulatory
framework.
Decline in Greenhouse Gas Emission, Energy
Production Cost Invites Demand
Most economies around
the globe, viz. Indonesia, India, Australia, the U.K., and the U.S.,
are proposing legislations or providing incentives and grants in
support of the application of biomass power generation. Besides this,
the world biomass power generation market could be privileged by
several advantages of the technique such as better public health,
cleaner air, and augmented visibility.
Apart from ensuring a
tangible reduction in the emission of greenhouses gases, the
application of biomass in power generation could also help in the
cost control of energy production. Moreover, biomass power generation
has been expected to support a telling decline in environmental
hazards including air pollution. This could be due to the engagement
of human and natural waste in biomass power generation.
Applications such as
industrial processes and transportation have been envisioned to offer
lucrative opportunities with the need to eliminate the usage of
conservative energy sources such as diesel. Developing economies
could increase the demand in the world biomass power generation
market in view of rapid urbanization and industrialization surging
the requirement of easily accessible, cost-effective, and more
reliable energy supply.
Feeble Supply Chain
Stunts Growth of Industry Players
Despite the positive
means of generating growth in the international biomass power
generation market, participants have been prophesied to encounter a
few challenges such as the existence of a weak supply chain and a low
degree of awareness about the technique.
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However, biomass power
generation could battle strong against the traditional techniques of
generating power while riding on the affordable costs of agricultural
waste and forestry. Even in respect of the high cost of feedstock in
certain countries, biomass power generation has been foreseen to beat
coal-fired power generation. More prospects could be birthed in the
international biomass power generation market as the inclination
toward off-grid power supply continues to elevate, promoting biomass
as a feasible alternative.
The information
presented in this review is based on a TMR report, titled “Biomass
Power Generation Market (Feedstock - Woody Biomass, Agriculture and
Forest Residues, Biogas and Energy Crops, Urban Residues, and
Landfill Gas (LFG) Feedstock; Technology - Anaerobic Digestion,
Combustion, Gasification, Co-firing and CHP, and LFG) - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 -
2022.”
The global biomass
power generation market has been segmented as presented below:
Global Biomass
Power Generation Market by Feedstock
- Woody Biomass
- Agriculture and Forest Residues
- Biogas and Energy Crops
- Urban Residues
- Landfill Gas (LFG) Feedstock
Global Biomass
Power Generation Market by Technology
- Anaerobic Digestion
- Combustion
- Gasification
- Co-firing and CHP
- LFG
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