Biomass Electricity Global Market Report 2023

Government Subsidies and Support Bolsters Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Biomass Electricity Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.

The global biomass electricity market will grow from $41.44 billion in 2022 to $45.17 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The biomass electricity market is expected to grow to $61.32 billion in 2027 at a CAGR of 7.9%.

Western Europe was the largest region in the biomass electricity market in 2022. Asia Pacific was the second-largest region in the biomass market. The regions covered in the biomass electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increasing government support through various government subsidies and policies is driving the growth of the biomass electricity market. Due to the growing concerns about climate change and the rising levels of greenhouse gases in the atmosphere resulting from the burning of fossil fuels such as coal and oil, new government policies are being framed to encourage sustainable power generation.

For instance, in India, the Ministry of new and renewable energy under its National Biogas and Manure Management Programme (NBMMP) provides subsidies for setting up family-type biogas plants mainly for rural and semi-urban households. The program is implemented by the State Nodal Departments/State Nodal Agencies and Khadi and Village Industries Commission (KVIC), Biogas Development and Training Centers (BDTCs) and involves subsidies of up to Rs. 17,000 ($230) for setting up biogas plants.

The growing competition from alternative energy sources such as solar, wind, and geothermal is expected to limit the biomass electricity market. Unlike wind power plants, biogas plants are affected by cold climates. The digesters in a biogas plant require heat energy to maintain a constant biogas supply. The optimal temperature for bacteria to digest the waste product is around 37C. At temperatures below 37C, the digesters require additional heat energy to maintain a constant biogas supply.

Solar and wind energy plants use raw resources which are available in abundance, whereas biogas production is only possible in rural areas where raw materials such as agricultural waste, manure, green waste, or food waste are in constant supply. Thus, the popularity and ease of maintaining alternative energy sources such as solar, wind, and geothermal restraints the growth of the biomass electricity market.

Companies in the biomass electricity market are developing new methods to produce electric power through new hybrid biogas plants by combining biogas with other forms of renewable energy sources such as solar energy. The combination of solar energy with biogas reduces the operating cost and effort required to deal with the waste products from the farms. Following suit, in 2020, Green Genius, a renewable energy company, launched a new biogas power plant in Belarus. In addition to producing green electricity, new biogas power plants will also eliminate the smell from pig farms and transform organic waste into liquid odorless fertilizer. Lithuania, Poland, Ukraine, Belarus, Spain, and Italy are the six European markets where Green Genius is creating sustainable energy (solar and biogas) projects.

In 2021, ReGenerate Energy Holdings, LLC, a US-based company focusing on environmental sustainability in renewable energy, acquired Albany Green Energy. Through the acquisition, ReGenerate Energy Holdings, LLC would continue building and expanding a bioenergy business. Albany Green Energy is a US-based biomass heat-and-power facility that uses woody biomass from mill residue, forestry waste, recycling, and agricultural waste sources to provide 50 megawatts of electricity to Georgia Power.

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Scope

Markets Covered:

1) By Feedstock: Solid Biomass; Biogas; Municipal Solid Waste; Liquid Biomass

2) By End-User: Households; Industrial Sector; Government Sector; Others

3) By Technology: Anaerobic Digestion; Combustion; Co-Firing; Gasification; Landfill Gas

A selection of companies mentioned in this report includes

• Enviva
• Pinnacle Renewable Energy Group
• Pacific BioEnergy Corporation
• Acciona Sa
• Dong Energy A/S
• Acciona Sa
• Ameresco Inc.
• E.On Se
• Graanul Invest Group
• RWE Innogy
• Lignetics
• Orsted A/S
• Oulun Energia Oy
• NTPC
• Skive Fiernvarme
• Babcock & Wilcox Enterprises Inc.

For more information about this report visit https://www.researchandmarkets.com/r/tgjv1u

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