Bioenergy Market Overview
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 produced using various materials, including biomass, biofuel, organic waste, and biogas. These wastes are conveniently offered in the marketplace. As a result, bioenergy production is predominantly used for these biowastes. As a result, the worldwide bioenergy market will rise over the anticipated period due to the demand for clean and green energy.
The worldwide bioenergy market is expanding and developing due to factors including installing favorable and strict government rules and guidelines. Additionally, there is a demand for bioenergy on the global market due to the rising demand for alternative energy sources. Further, it has been observed that bioenergy lowers the cost and expenses associated with producing power.
ChemView Consulting has analyzed that 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.
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.
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Segments Covered in Report
- Power Generation
- Heat Generation
By Product Type:
- Solid Biomass
- Liquid Biofuel
- Agricultural Waste
- Wood Waste
- Solid Waste
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)
Key Takeaways from the Bioenergy Market
- Based on the application, 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.
- Based on the feedstock, 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.
- Based on the region, with a market share of 33.7% in revenue, Europe has the largest 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.
Key companies covered in the market study 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
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Report Key Highlights and Coverage
- 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 impact 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.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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