Bioenergy Market is expected to exceed the market valuation of more than US$ — billion in 2027 and is expected to grow at a significant CAGR of –% during the forecast period (2021-2027). Bioenergy is a renewable source of energy derived from organics materials known as biomass. It can be used to produce energy for heat, electricity, transportation, and products. The energy generated from biomass is known as bioenergy. Biomass when used as an energy source is called feedstock and can range from plants and timber to food an agricultural waste and even sewage. Dry combustible feedstocks like wood pellets are burnt in furnaces or boilers, which boils water that creates steam and drives a turbine to create electricity. Carbon Dioxide is released when burning biomass. However, the net carbon release is balanced as same amount of carbon dioxide is released which was absorbed when growing organic matter. Thus, the carbon cycle is balanced. Where fossil fuels release carbon dioxide that been locked away since millions of years which disrupts the Earth’s current carbon balance. The sustainability of bioenergy can be best analyzed by distinguishing whether waste feedstocks or energy crops are being used.
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Key factors influencing the growth of the biomass market include is wide availability as a renewable source of energy as the organic materials used to produce biomass are easily available whereas in the case of other renewable sources it is hard to rely on their constant availability. Biomass is produced from organic material/waste that would usually rot and produce CO2 and even methane (a greenhouse gas 21 times more potent than CO2). Therefore, bioenergy is not only sustainable but decreases the CO2 that would have been produced anyways. Furthermore, manufacturers are making an added revenue by producing bioenergy from their leftover waste. This also reduces the garbage dumped in landfills by 60-90% and reduces the cost of landfill disposal. Moreover, the world population is expected to increase to 8 or even to 10.5 billion by 2050 which will increase the need for energy consumption and to respond to this growing demand natural resources need to be used more efficiently and thus the needed switch to biofuels.
Enexor Energy, Lignetics, Green Plains Inc., Enviva, Enerkem, POET, Drax Group, Pacific BioEnergy Corp, EnviTec Biogas AG, and MVV Energie AG are some of the prominent players operating in the Bioenergy market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product Type, Solid biomass segment holds the major share”
Based on Product Type, the market is segmented into Solid Biomass, Liquid Biofuels, Biogas, Others. Amongst product type, the solid biomass segment of the bioenergy market was valued at USD$ — billion in 2020 and is likely to reach US$ — billion by 2027 growing at a CAGR of –% from 2021-2027. Biomass is a renewable organic material produced from plants and animals. Till the mid-1800s, biomass was the largest source of total annual energy consumption in the United States. Using biomass instead of fossil fuels has avoided CO2 emission in many countries. In 2020, 5 quadrillion British thermal units (Btu) and about 5% of the total energy was provided using Biomass in the United States.
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“Amongst Feedstock, Wood & Woody Biomass Segment holds the major share”
Based on feedstock, the bioenergy market is segmented into agricultural waste, wood & woody biomass, solid waste, and others. Amongst feedstock, wood and woody biomass segment accounted for a market valuation of US$ — billion in 2020 and is expected to reach US$ — billion by the year 2027, at a CAGR of –% over the analyzed period. Woody biomass consists of trees, bark, trunks, branches etc. These have a high lignin content which produces large amount of heat and is also used in grid electricity production. In 2018, 2% of the total energy consumption in the United States was from wood and woody biomass waste. Energy from wood can be acquired by directly burning the wood or one can burn the wood in a mixture of wood, coal, and other fuel sources. Indirect methods include deriving energy by thermal or chemical conversion processes.
“Amongst Application, Heat Generation Segment holds the major share”
Based on application, the bioenergy market is segmented into Power Generation, Heat Generation, Transportation, and Others. The heat generation segment generated revenue of US$ — billion in 2020 and is expected to grow at a CAGR of –% during the forecast period to reach a market valuation of US$ — billion by 2027F. Biofuels are high in heat content and are most used for the generation of heat, which makes it the fastest growing segment. In Europe, use of bioenergy for heat is expected to rise by 8% by 2023 reaching 3.5 exajoules (EJ). The European Union used more than 15 million tons of wood pellets for heating in 2018. Renewable biomass is converted into heat by 3 processes, bacterial decay, burning and conversion to liquid or gas fuel.
“North America represents one of the largest markets of Bioenergy market”
For a better understanding of the market dynamics of the Bioenergy market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. The U.S. dominated the market and grabbed around –% market share owing to the increasing awareness about renewable energy in the region.
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Table of Content-
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS (INDUSTRY AT A GLANCE)
4 EXECUTIVE SUMMARY
5 BIOENERGY MARKET REVENUE (US$ BN), 2021-2027F
6 COVID-19 IMPACT
7 MARKET INSIGHTS BY PRODUCT TYPE
8 MARKET INSIGHTS BY FEEDSTOCK
9 MARKET INSIGHTS BY APPLICATION
10 MARKET INSIGHTS BY REGION
11 BIOENERGY MARKET DYNAMICS
12 BIOENERGY MARKET OPPORTUNITIES
13 BIOENERGY MARKET TRENDS
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
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