The growth of the biomass electricity market depends mainly on the demand for renewable and alternative sources in the production of electricity.
This report describes and assesses the global biomass electricity market. It covers three five-year periods including 2015 to -2020, called historical period, forecast period 2020-2025 and 2025-2030 another forecast period.
LONDON, Oct. 05, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s research report on the biomass-based electricity market, rapid growth in investment in renewable energy production capacity is expected stimulate the utility market during the forecast period. A large number of power generation companies are investing in renewable energy sources, particularly in the United States and European countries.
For example, according to the World Energy Investment Report 2021 of the International Energy Agency (IEA), it is estimated that renewables for new power generation capacities will attract 70% of global energy investment in 2021. , with most of the investment going into energy and ending. sectors of use, abandoning traditional production of fossil fuels. In addition, the Indian government has set a target to install 175 GW of renewable energy capacity by 2022 through thermal, hydro, nuclear, wind and biomass projects. The increasing investments in the production of renewable energy are expected to drive the market during the forecast period.
Western Europe is the larger region in the biomass electricity market, representing 37.5% of the total in 2020. It is followed by Asia-Pacific, then the other regions. In the future, the fastest growing regions in the biomass electricity market will be the Middle East and South America, where growth will be at 14.4% CAGR and 12.4% respectively. These will be followed by Africa and Eastern Europe, where markets are expected to grow at CAGRs of 11.3% and 10.5% respectively.
The commercial research companythe report titled Biomass Electricity Global Market Report 2021 – By feedstock (solid biomass, biogas, municipal solid waste, liquid biomass), by end user (households, industrial sector, government sector), by technology (anaerobic digestion, combustion, co-combustion, gasification , landfill gas), impact and recovery of COVID-19 covers major biomass power companies, biomass power market share by company, biomass power manufacturers, biomass power market size and market forecast electricity from biomass. The report also covers the global biomass electricity market and its segments.
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The global market for electricity from biomass is expected to grow by 33.11 billion dollars 2020 To $ 35.43 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 50.26 billion in 2025 To 9% CAGR.
Power generation companies are increasingly using alternative energy sources such as natural gas, nuclear power and renewables to generate clean and sustainable electricity, which is boosting the electricity market. electricity from biomass. The lower installation costs of renewable energy sources also result in the use of these sources for the production of electricity. According to the United States Energy Information Administration (EIA), the share of coal in total world energy consumption is expected to increase from 25% in 2015 to 22% in 2040. Renewable energies are expected to be the source of energy. fastest growing, their consumption increasing at an average rate of 2.3% per year between 2015 and 2040. The continued transition to alternative sources of electricity generation is expected to play a driving role for the electricity market in from biomass.
The TBRC Biomass Electricity Market report is segmented by raw material into Solid Biomass, Biogas, Municipal Solid Waste, and Liquid Biomass. The solid biomass the market is largest segment of the segmented biomass electricity market by raw material, accounting 63.1% of the total in 2020. Going forward, the solid biomass the market should be the fastest growing segment in the biomass electricity market segmented by raw material, at a 10.2% CAGR in 2020-2025. The biomass energy market is also segmented by end user into household, industrial sector, government sector, others and by technology into anaerobic digestion, combustion, co-combustion, gasification, landfill gas.
Global Biomass Electricity Market Report 2021 – Impact and recovery of COVID-19 is part of a series of new reports from The commercial research company which provide market overviews, analyze and forecast market size and growth for overall market, segments and geographies, trends, drivers, restraints, revenue, profiles and market share from leading competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
here is A List of similar reports from the commercial research company:
Global Biomass Power Generation Market Report 2020 – By Raw Material (Solid Biomass, Biogas, Municipal Solid Waste, Liquid Biomass), By End User (Households, Industrial Sector, Government Sectors), By Technology ( anaerobic digestion, combustion, co-combustion), Gasification, landfill gas)
Global Electricity Generation, Transmission and Distribution Market Report 2021 – By Type (Electricity Transmission, Control and Distribution, Electricity Generation), By End User (Residential, Commercial, Industrial), By type of operator (public operator, private operator), COVID-19 impact And Recovery
Global Utilities Market Report 2021 – By Type (Water And Wastewater, distribution of natural gas, production, transmission and distribution of electricity, by type of operator (public operator, private operator), impact and recovery of COVID-19
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