A recent report published by Infinium Global Research on biopower market provides an in-depth analysis of segments and sub-segments in the global as well as regional biopower market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional biopower market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global biopower market. According to the report, the global biopower market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
Biopower is the use of biomass to generate electricity. Biomass has always been an important source of energy. It is renewable, widely available, carbon-neutral and has the potential to provide significant employment in the rural areas. Biopower is carbon neutral electricity generated from renewable organic. When burned, the energy in biomass is released as heat. Generation of power with biomass represents the cost-effective and cleanest way to provide renewable electricity in biomass potential regions with high levels of biomass resources and its processing activity.
In recent years, the rise in population and increasing energy needs has resulted in an increase in demand for a sustainable source of energy that in turn acts as a major driver for the growth of the biopower market. Growing environmental concerns and increasing stringent regulations to cut down the emission of greenhouse gases favors the growth of the biopower market. In addition, the use of biopower is helping several countries to become more energy independent. Biopower accounts for 10% of the world’s total primary energy supply, is mainly used in the residential sector for heating and cooking, and is produced locally. Biopower uses waste that would otherwise be dumped in landfills, openly burned, or left as fodder for forest fires, thus controlling environmental pollution largely. Furthermore, increasing investments in renewable energy, growing support, and incentives by several government bodies are encouraging the growth of the biopower market. For instance, biomass power & cogeneration program in India is implemented with the main objective of promoting technologies for optimum use of the country’s biomass resources for grid power generation. However, high setup cost of the power generation units hampers the growth of the biopower market. Moreover, increasing technological advancements in renewable energy sources are creating growth opportunities for the biopower market.
Among the regions, the North America region holds the largest market share in the biopower market owing to the rising government incentives to support renewable energy, growth in the technological advancements in power generation technologies using biomass in this region. Asia-Pacific is the fastest growing region owing to the rising population and increase in demand for the additional energy source. In addition, countries like Finland, Brazil are significantly investing in biopower that contributes to the growth of the biopower market.
The report on global biopower market covers segments such as technology, and end user. On the basis of technology, the sub-markets include direct combustion, anaerobic digestion, gasification, and other technologies. On the basis of end user, the sub-markets include residential, commercial, and industrial.
The report provides profiles of the companies in the market such as Dalkia, EnviTec Biogas AG, WELTEC BIOPOWER GmbH, Schmack Biogas GmbH, Ørsted A/S, ElectraTherm, Inc., Babcock & Wilcox Enterprises, Inc., Enerkem Inc., Ameresco, Inc., and MVV Energie AG.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of biopower market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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