Bio
Power Market Analysis:
The
global bio power market is expected to exhibit a CAGR of 5.7% over the forecast
period from 2018 to 2027, according to the latest research report released by
Market Research Future (MRFR). The global bio power market is mainly driven by
the growing popular and government support for the renewable energy sector,
which has become an increasingly important part of the global power generation
sector and is likely to continue on the same path over the forecast period.
The
growing renewable energy sector is likely to be the major driver for the Bio
Power Market Share over the forecast period. Bio power comprises
various ways in which biomatter is used to create electricity or other
combustible fuels. The prime attraction of the bio power market is the constant
regeneration of biomass in the world’s farms, cities, and animal products
industries. This has made the sector truly sustainable and likely to grow by
leaps and bounds over the coming years.
The
development of various technologies to produce purer and more refined fuels
from biomass is likely to be a major driver for the global bio power market
over the forecast period. The growing establishment of the infrastructure
necessary to support a growing bio power industry is likely to be a major
driver for the global market over the forecast period. Due to the growing
awareness about the bio power sector, an increasing number of technologies are
being developed for producing high purity levels of natural gas from biomass.
Such developments are likely to be vital for the global bio power market over
the forecast period.
Competitive Analysis:
Leading
players in the global bio power market include Enerkem, MVV Energie AG, Babcock
& Wilcox Enterprises Inc., ElectraTherm, Ørsted A/S, Weltec
Biopower GmbH, Schmack Biogas GmbH, EnviTec Biogas AG, and Dalkia.
Bio
Power Industry Segmentation:
The
global bio power market is segmented on the basis of technology, end use, and
region.
By
technology, the global bio power market is segmented into direct combustion,
cofiring, gasification, anerobic digestion, pyrolysis, and landfill gas.
By
end use, the global bio power market is segmented into residential, commercial,
industrial, and others.
Regional Analysis:
North
America is likely to hold the largest share in the global bio power market over
the forecast period due to the growing demand for renewable energy in this
region. The growing government support for the development of renewable energy
infrastructure is also likely to be a vital driver for the bio power market in
North America over the forecast period. Industrial consumers in the region
stand to gain considerably in terms of rebates and concessions if their power
came from renewable sources, leading to considerable chances of rapid growth of
the bio power market in the region over the forecast period. Europe is also
likely to play a key role in the growth of the global bio power market over the
forecast period due to the growing support for renewable energy generation in
the region.
Related
Reports:
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