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.
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 Product Type:
By Region and Country:
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
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:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Application, Product Type, Feedstock, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 8.0%.
Increasing biofuel blend shares drive the global bioenergy market
Major global Bioenergy Market players 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
Europe is expected to account for the largest market revenue share in the Global Bioenergy market.
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