When referring to electricity produced via a process that involves burning biomass to produce product gas or syngas for the creation of electricity, the term "biomass electricity" is used. A mixture of carbon monoxide, hydrogen, carbon dioxide, methane, and nitrogen makes up producer gas, a flammable gas. When the oxygen supply (O2) is insufficient for the combustion of biomass, partial combustion—which occurs during the gasification process—is used.
According to SPER market research, ‘Biomass Electricity Market Size- By Feedstock, By End-User, By Technology- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Biomass Electricity Market is predicted to reach USD 236.63 billion by 2032 with a CAGR of 6.26%.
The rising demand for renewable energy sources as people and governments around the world have become more aware of the need to reduce greenhouse gas emissions and minimise the consequences of climate change has been one of the primary drivers of growth. The market for biomass electricity is expanding as a result of rising government support through a variety of subsidies and policies. New government policies are being framed to encourage sustainable power generation in response to growing concerns about climate change and the rising levels of greenhouse gases in the atmosphere brought on by the burning of fossil fuels like coal and oil.
However, the increased competition from other energy sources like solar, wind, and geothermal is predicted to limit the market for biomass electricity. The effects of cold weather on biogas facilities are different from those on wind energy installations. The digesters in a biogas plant require thermal energy to maintain a consistent biogas supply. The optimal temperature for bacteria to digest the waste product is around 37°C. At temperatures below 37°C, the digesters require additional heat energy to maintain a steady flow of biogas. Solar and wind energy plants use commonly available raw materials, whereas biogas generation is only practical in rural areas where agricultural waste, manure, green waste, or food waste are always available. Therefore, the acceptance of and ease of maintenance for alternative energy sources like solar, wind, and geothermal are limiting factors for the expansion of the biomass electricity market.
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Impact of COVID-19 on Global Biomass Electricity Market
Additionally, a double effect of the COVID-19 pandemic has been felt on the global biomass electricity industry. Market conditions have been harmed by decreased demand for power brought on by business closures and stay-at-home activities. Biomass companies have struggled to obtain the essential organic components due to supply chain interruptions. But as governments and businesses look for sustainable solutions for economic recovery, the epidemic has raised awareness of alternative energy, especially biomass electricity. Although the pandemic has a negative immediate effect, it is expected to have a positive long-term effect on the market for biomass electricity by opening up new growth prospects.
Biomass Electricity Market Key Players:
Geographically, the biomass electricity market's largest region in 2022 was Western Europe. The biomass market's second-largest region was Asia Pacific. Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa are the regions covered in the biomass electricity market study. Additionally, some of the market key players are Ameresco Inc., Babcock & Wilcox Enterprises, Inc., CEZ, Dong Energy A/S, EPH, General Electric, Iberdrola, Suez, Others.
Biomass Electricity Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
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.
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Biomass Electricity Market Future Opportunity
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