With more people becoming conscious about the environment
and preferring to use natural resources as fuel sources, the biopower market is
growing. Market Research Future (MRFR) has published a research report about
the global biopower market that estimates hike for this market between 2016 and
2027.
The primal factor speeding up the global biopower
market growth is the favorable government regulations in the context of
renewable sources of energy. In many countries, governments are encouraging the
use of such sources due to their eco-friendly nature. These sources of energy
can reduce carbon emissions and various kinds of environmental pollution. Development
in technology aids the production as well as the harnessing of biopower. Other
factors supporting the market growth include growing demand for renewable
energy, technological advancement, and the cost-effective nature of renewable
sources.
Bio Power Market Segmentation
The global Bio
Power Market Research report has been segmented based on type,
application, and lastly, region. By type, this market can be segmented into
biomass and biogas. Biomass is the waste material coming from plants or animals
that cannot be used for food or feed. This segment includes waste from farming
or horticulture, animal farming, food processing, or human waste from sewage
plants. Biogas is defined as a mixture of different gases that are produced by
the breakdown of organic matter in the absence of oxygen.
As per the application-based segmentation, the market
has been segmented into commercial, industrial applications, and residential
applications. Commercial applications include commercial establishments like
restaurants and shops. Industrial applications segment features factories and
manufacturing units. Residential applications cover buildings containing
residential apartments and individual residential houses.
Regional Analysis
The regional segmentation of the global biopower
market can segment the global market into regional markets known as North
America, Asia Pacific, Europe, and rest of the world (RoW). During the forecast
period, the market in North America is expected to appear as the largest
regional market because The United States of America (USA) and Canada are the
two most technologically advanced country-specific markets.
Asia Pacific region and Europe are two other regional
markets because, in these regions, the manufacturing sector is witnessing rapid
growth. In the Asia Pacific region, the economies standing the strongest chance
of becoming potential markets are India, China, and Japan. In Europe, such
economies are Germany, France, and the United Kingdom (UK).
Key
Players
The key players in the global biopower market include
Biopower Operations Corporation (USA), A2A (Italy), EnviTec Biogas AG
(Germany), Dalkia (France), Schmack Biogas GmbH (Germany), MVV Energie AG
(Germany), and Weltec Biopower GmbH (Germany).
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