Tuesday Dec 06, 2022

Biomass Electricity Global Market Report 2022 – Yahoo Finance


Major players in the biomass electricity market are Enviva, Pinnacle Renewable Energy Group, Pacific BioEnergy Corporation, Acciona Sa, Dong Energy A/S, Acciona Sa, Ameresco Inc. , E. On Se, Graanul Invest Group, RWE Innogy, Lignetics, Orsted A/S, Oulun Energia Oy, NTPC, Skive Fiernvarme, and Babcock & Wilcox Enterprises Inc.

New York, Dec. 30, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Biomass Electricity Global Market Report 2022” – https://www.reportlinker.com/p06193696/?utm_source=GNW

The global biomass electricity market is expected to grow from $33.62 in billion 2021 to $36.99 billion in 2022 at a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $52.55 billion in 2026 at a CAGR of 9.2%.

The biomass electric power generation market consists of sales of electricity generated using biomass and related services for household and commercial purposes.Biomass gasification refers to a process that involves the burning of biomass for the generation of producer gas or syngas for production of electricity.

Producer gas is a combustible gas mixture of carbon monoxide, hydrogen, carbon dioxide, methane, and nitrogen. The gasification process uses heat, pressure and partial combustion which takes place when the air supply (o2) is inadequate for the combustion of biomass.

The main types of feedstock in biomass electric power generation are solid biomass, biogas, municipal solid waste and liquid biomass.Solid Biomass, also known as feedstock, consists of solid or compacted organic materials in the format of pellets which discharge stored energy through combustion and burning.

The different technologies include anaerobic digestion, combustion, co-firing, gasification, landfill gas and is used by various sectors such as households, industrial sector, government sector, others.

Western Europe was the largest region in the biomass market in 2021.Asia pacific was the second largest region in the biomass market.

The regions covered in the biomass electricity market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing government support through various government subsidies and policies drives the growth of the biomass electric power generation market.Due to the growing concerns about climate change and rising levels of greenhouse gases in the atmosphere resulting from the burning of fossil fuels such as coal and oil, new government policies are being framed to encourage sustainable power generation.

For instance, In India, the Ministry of new and renewable energy under its National Biogas and Manure Management Programme (NBMMP) provides subsidies for setting up a family type biogas plants mainly for rural and semi-urban/households. The programme is implemented by the State Nodal Departments/State Nodal Agencies and Khadi and Village Industries Commission (KVIC), Biogas Development and Training Centers (BDTCs) and involves subsidies up to Rs.17,000 ($230) for setting up biogas plants.

The companies in the biomass electric power generation market are developing new methods to produce electric power through new hybrid biogas plants by combining biogas with other forms of renewable energy sources such as solar energy.The combination of solar energy with biogas reduces the operating cost and efforts required to deal with the waste products from the farms.

Following the trend, U.K based Bioplex and Controllis, in 2019, together developed an onsite-electric power generator system including a high output system to convert grass, animal and food waste …….

Source: https://finance.yahoo.com/news/biomass-electricity-global-market-report-095700316.html

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