Bioliquid Heat and Power
Generation Market Scope
The
global Bioliquid
Heat and Power Generation Market can be expected to attain a growth
rate of 7.60% during the forecast period (2018-2023), says Market Research
Future (MRFR).
Market Drivers and Main
Challenges
The
market for bioliquid heath and power generation is growing on the back of the
expanding worldwide population along with economic advancement. Soaring energy
demand among commercial, public and residential services as well as the transport
sector also favors the market. The IEA (International Energy Agency) reveals
that the worldwide energy demand rose by 4% in the year 2018. That same year,
the total electricity production generated through coal and natural gas all
over the world was estimated, wherein the coal contribution came to 25.6% and
natural gas accounted for 27.9% in the overall production.
The
world over, there has been a surge in the demand for sustainable, clean and
eco-friendly energy generation, given the rising concerns due to increasing CO2
emissions stemming from energy generation. Owing to these concerns, a number of
government bodies around the world are implementing rigid policies and
regulations with the aim to bring down carbon emissions and their harmful
effect on the environment. These noteworthy factors can contribute immensely to
the growth of the Bioliquid Heat and Power Generation market in the years to
come.
Mounting
awareness about climate change as well as environment degradation has prompted
several manufacturers to come up with sustainable energy strategies. They are
making massive investments in environment friendly technologies for power
generation, which can elevate the market position during the review period.
Bioliquid Heat and Power
Generation Market Segmentation
The
global market for Bioliquid heat and power generation has been extensively
studied, considering the segments like type and application region.
Given
the type segment, the market covers bioethanol and biodiesel. Bioethanol is the
leading segment in the global market, since it offers various benefits compared
to biodiesel. For example, bioethanol consists of 35% oxygen and when oxygen is
added to fuel, it leads to complete fuel combustion, which helps reduce toxic tailpipe
emissions. Additionally, ethanol can be used instead of harmful gasoline
component including benzene. In the United States (US), almost all the gasoline
that is sold comprises 10% ethanol, with respect to volume. Taking into account
all the technical features of bioethanol, it is lower-priced compared to biodiesel
and offers close to 93% more energy per gallon, which elevates its demand in
the market.
Application-wise,
the market includes heat generation and power generation.
Regional Analysis
Asia
Pacific (APAC), North America along Europe and the rest of the world (RoW) are
the main markets for Bioliquid Heat & Power Generation highlighted in the
MRFR report.
Europe
was the leading market for Bioliquid Heat & Power Generation in the year 2017.
The massive demand for bioliquids in the region is the result of the rising focus
on the renewable energy sector, where bioliquid plays an important role. The Europe
market for bioliquid heat and power generation is expected to maintain its
position throughout the forecast period. The region has amplified its focus on
the renewable energy sector, with the top countries identified as Germany,
France and the UK. The rigid regulatory framework with regard to bioliquids in
Europe also induces market growth to a great extent.
The
developing countries in APAC such as India and China offer a host of growth
opportunities to the bioliquid heat and power generation market, owing to
substantial government initiatives promoting the use of biofuels for renewable
energy generation.
The
bioliquid heat and generation market in North America is driven by the high availability
of feedstocks and the rising need to reduce carbon emissions. Availability of advanced
technologies that help convert feedstocks to liquid biofuels can also stimulate
the growth of the bioliquid heat and power generation market in the region in
the coming years.
Significant Market
Players
Some
of the most significant players in the worldwide market for Bioliquid Heat
& Power Generation include Archer Daniels Midland Company, and Cargill
Inc., Encontech, Betarenewables, Bunge, Biox, MBP Group, REG Power Management,
REG, Kraton, BTG, Olleco, Argent Energy, Munzer Bioindustrie, Ensyn Fuels,
Neste, to mention a few.
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