The production and distribution of electricity produced from organic materials including wood, agricultural crops and leftovers, municipal solid waste, and other biomass materials constitutes a portion of the global electricity market. In power plants, distributed energy systems, and other uses, biomass electricity is typically produced through the processes of combustion, gasification, or anaerobic digestion. Recently, a variety of reasons have contributed to the market for biomass electricity expanding quickly. As people and governments all over the world have grown more conscious of the necessity to reduce greenhouse gas emissions and minimise the consequences of climate change, one of the main drivers of growth has been the rising demand for renewable energy sources.
Because it may be produced from a variety of organic materials that are widely accessible in many parts of the world, biomass power is seen as a particularly appealing type of renewable energy. The development of the biomass electricity market has also been influenced by technological developments in biomass conversion technology. Much progress has been achieved in creating more efficient and affordable methods of converting biomass materials into power over the past few decades. This has improved the competitiveness of biomass electricity compared to other renewable energy sources like solar and wind power and created new prospects for biomass electricity production in various contexts.
The COVID-19 outbreak has had a divisive impact on the global biomass electricity industry. One way the pandemic has harmed the market is by causing a decline in worldwide electricity consumption in a number of places. There is a decrease in the overall demand for electricity, which also affects the requirement for biomass electricity, as a result of many businesses closing and many people remaining at home. Supply channels have also been affected by the pandemic, making it harder for biomass producers to locate the organic materials needed to generate electricity. This has led to a halt in the production of biomass electricity in some places, particularly those where transportation has been difficult.
However the pandemic has also raised awareness of the importance of sustainable energy sources, such as biomass electricity. As governments and businesses work to restore their economies after the epidemic, they are paying more and more attention to sustainable energy sources that can help reduce greenhouse gas emissions and the effects of climate change. As a feasible renewable energy option, biomass electricity has grown increasingly popular as a result. The COVID-19 pandemic has, in general, had a negative impact on the world market for biomass electricity in the short term, but it has also created new opportunities for growth and development over the long term.
Biomass Electricity Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Acciona Sa, Ameresco Inc., Babcock & Wilcox Enterprises, Inc., CEZ, Dong Energy A/S, Drax Group, EDF, Engie, Enviva, EPH, General Electric, Iberdrola, Mitsubishi Power, Ltd., Ørsted A/S, Ramboll Group A/S, RWE, Suez.
Global Biomass Electricity Market Segmentation:
By Feedstock: Based on the Feedstock, Global Biomass Electricity Market is segmented as; Biogas, Liquid Biomass, Municipal Solid Waste, Solid Biomass.
By End-User: Based on the End-User, Global Biomass Electricity Market is segmented as; Government, Household, Industrial, Others.
By Technology: Based on the Technology, Global Biomass Electricity Market is segmented as; Anaerobic Digestion, Co-Firing, Combustion, Gasification, Landfill Gas.
By Region: The North American, European, Asian Pacific, Latin American, Middle Eastern, and African regions make up the regional segments of the global market for Biomass Electricity. The market is dominated by North America since obesity is so common there, but the Asia Pacific region is predicted to develop significantly because of rising interest in health and wellbeing and rising disposable income. Due to the huge market for weight reduction pills in Europe and the increasing focus on healthy lifestyles, this region is also important.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.