Bioenergy Market

Bioenergy Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Bioenergy Market grew at a CAGR of 7.2% between 2017-2021 and is estimated to be US$ 1,27,435.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 8.0% and is expected to reach a valuation of US$ 2,75,123.9Mn by 2032 end.

Bioenergy is energy produced utilizing biologically based renewable resources like biofuel, biogas, biomass, and other biological waste. To meet broader environmental, social, and sustainability goals and global climate change targets, bioenergy is a promising renewable energy source.

Agricultural waste, solid waste, liquid biofuels, and other materials are examples of feedstock used in the production of bioenergy. Among its many main benefits are the reduction of landfills, increased energy security and reliability, cost savings, biodegradability, and improved air quality.

Market Dynamic

INCREASING BIOFUEL BLEND SHARES DRIVE THE GLOBAL BIOENERGY MARKET

To improve energy security, aid in the mitigation of climate change, and promote the development of agriculture, some industrialized and developing nations pass mandatory biofuel laws and set biofuel targets. Mandates and incentives for blending biofuels with fossil fuels contribute to the expansion of both the production and consumption of biofuels.

Most biofuels are used in tiny quantities (often less than 10% by volume or energy) in combination with fossil fuels. Over the past ten years, the demand for biofuel has increased dramatically due to policies like the European Union’s Renewable Energy Directive (RED) and Fuel Quality Directive, which regulate the required percentage of biofuel for the transportation sector.

EMERGING INNOVATIONS IN WASTE-TO-ENERGY TECHNOLOGIES PROVIDE UMPTEEN MARKET OPPORTUNITIES FOR BIOENERGY

Waste-to-energy (WTE) converts biological waste into heat or electricity used to power vehicles and contributes to environmental preservation. Waste-to-energy technology (WTE) is increasingly popular because it efficiently and sustainably transforms solid wastes like paper and plastic into energy. Anaerobic digestion (AD) is four times less expensive and more effective at producing power than dendro-liquid energy (DLE).

It is a game-changer in the global waste-to-energy technology market since it generates no waste. The zero-emission discharge also contaminates the environment and makes industrial facilities unusable. Market players believe that because Germany has embraced this zero-waste technology innovation, future opportunities will be more robust.

Market Segments Covered in Report

By Application:

• Power Generation
• Heat Generation
• Transportation
• Others

By Product Type:

• Solid Biomass
• Liquid Biofuel
• Biogas
• Others

By Feedstock:

• Agricultural Waste
• Wood Waste
• Solid Waste
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why does solid waste is projected as the most lucrative segment?

Due to the increased production of solid waste from the residential, commercial, and industrial sectors, which may be used more and more in bioenergy production, the substantial waste segment led the global market in terms of share. Additionally, it is anticipated that demand for sustainable electricity, transportation fuels, heat generation, and other uses will expand during the examined time range.

Why does the transportation segment is anticipated to grow?

The transportation application has the biggest market share. This is attributed to strict government regulations regarding carbon emissions from traditional fuel sources used in transportation applications, including diesel, kerosene, gasoline, and others. Additionally, from 2023 to 2032, the global market is anticipated to grow rapidly due to the worldwide transportation sector’s expansion.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of 7% in revenue, Europe has the largest share of the global bioenergy market and is expected to continue to lead throughout the forecast period. This is explained by the region’s significant consumer base and key player presence.
• North America controlled the bioenergy market. In the North American region, the United States dominated the bioenergy market. The expansion of the energy industry, rising investments in energy and infrastructure projects, and increasing efforts by major market players to drive the growth of the bioenergy market in the North American area are all contributing factors.

Competition Analysis

The bioenergy market is very slightly fragmented. The major competitors implement various methods to remain competitive in the market, including business expansion, partnership, acquisition, investment, agreements, and agreements.

The key developments in the Global Bioenergy Market:

• In July 2021, to transport and distribute the bio-LNG produced by EnviTec Biogas AG at Gustrow to heavy-duty customers at its truck fueling stations in Germany, EnviTec Biogas AG signed a contract with Liquind 24/7 GmbH.

A list of some of the key suppliers present in the market are:

• Mitsubishi Heavy Industries Ltd
• MVV Energie AG
• A2A SpA
• Hitachi Zosen Corp
• BTG Biomass Technology Group
• Babcock & Wilcox Volund A/S, Biomass Engineering Ltd
• Orsted A/S
• Enerkem
• Fortum Oyj

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.