Biomass Power Generation Market Size, Share, and COVID-19 Impact Analysis, by Feedstock (Solid biomass, Biogas, Liquid biomass, Agricultural and forest residue, Municipal solid waste & Others), by Technology (Combustion, Pyrolysis, Gasification, Anaerobic Digestion, Landfill gas & Others), by End-use Industry (Residential, Industrial, Commercial), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The global Biomass Power Generation Market was valued at USD 54.3 Bn in 2021. The market is projected to grow USD 107.2 Bn in 2030, at a CAGR of 5.8%.

Biomass is a sustainable energy source that includes everything from energy crops to agricultural and forestry residues, as well as biogenic waste. To ensure that using biomass for energy results in significant CO2 reductions, cultivation, and production must be done in a controlled, long-term manner. Plants, both terrestrial and aquatic, and their derivatives produce biomass, which is organic stuff.

During photosynthesis, plant materials use the sun's energy to convert atmospheric carbon dioxide to sugars. Energy is released when biomass is burned because the sugars are transformed back to carbon dioxide. As a result, energy is captured and released quickly, making Biomass a renewable energy source.

Biomass cultivation has the potential to affect biodiversity, carbon stocks, soil quality, and air quality. Land rights difficulties, labor conditions, and potential rivalry with biomass use by local residents in poor nations are among possible social consequences of agriculture. With rising environmental concerns, several countries have been pushed to boost the share of renewable energy in their power mix, resulting in market growth. India, China, Germany, the United Kingdom, and France have all established renewable energy targets with the goal of becoming carbon-neutral in the future. Furthermore, the market is driven by increased adoption due to favourable laws and regulations.

COVID-19 ANALYSIS

The outbreak of COVID-19 impacted negatively on the global biomass power generation market. It is witnessed to be a significant obstacle for the renewable energy industry, resulting in a shortage of raw materials and the potential loss of jobs. Companies in the energy and power industries are facing a number of issues as a result of lower electricity prices following the COVID-19 outbreak. Furthermore, the United States is one of the most important markets for biomass power generation. The country's slowing economic growth has had an impact on global generation and renewable energy investment. Similarly, during the COVID-19 crisis, there was a greater emphasis on renewable technologies; nevertheless, due to labour shortages, fewer power facilities were operational.

Increasing Focus on Renewable Resources Favoring Market Growth

Due to massive usage, conventional fuels are on the edge of extinction. As a result, international leaders and academics are concentrating their efforts on renewable and green energy. The ever-increasing need for energy has increased hydrocarbon usage for electricity generation.

Rising Demand for Energy & Power

Due to fast urbanization and a quickly growing population worldwide, energy demand has increased exponentially in recent years. The majority of energy produced around the world comes from fossil fuels, which emit damaging GHG emissions when burned. Biomass, on the other hand, is a carbon-neutral transporter that can help significantly reduce greenhouse gas emissions. A biomass action plan has been presented by the International Energy Agency (IEA). The plan aims to encourage the use of biomass energy as a renewable energy source with enormous power generation potential. As a result, increased energy and power demand is likely to propel the worldwide biomass power market forward over the forecast period.

Concerns Pertaining to High Deployment Cost of Biomass Plant

The high deployment cost and time consumption for biomass plant construction are projected to limit market expansion. The advanced technology utilised in biomass plants raise costs even further, which could operate as a market restraint for the biomass power production sector.

SEGMENTATION

The global biomass power generation market is segmented by Feedstock (Solid biomass, Biogas, Liquid biomass, Agricultural and forest residue, Municipal solid waste & Others), by Technology (Combustion, Pyrolysis, Gasification, Anaerobic Digestion, Landfill gas & Others), by End-use Industry (Residential, Industrial, Commercial) and region. Based on the technology type, the market is categorized into solid biomass, biogas, liquid biomass, agricultural and forest residue, municipal solid waste & others. Based on technology, the market is categorized into combustion, pyrolysis, gasification, anaerobic digestion, landfill gas & others. Based on end-use industry, the market is categorized into residential, industrial & commercial. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Feedstock Insights

Based on the feedstock segment, the global biomass power generation market is categorized into solid biomass, biogas, liquid biomass, agricultural and forest residue, municipal solid waste & others. The solid biomass devices segment has dominated the market share of the global biomass power generation market in 2020 owing to have a greater acceptance rate for power generation applications than liquid biomass and biogas due to their easy availability and low cost.

The biogas is expected to witness highest growth rate during the forecast period of biomass power generation market due to huge capability to be produced along with utilized in rural areas. Biogas is mostly constituted of methane and carbon dioxide, and it is created through the anaerobic digestion process as well as the thermal process of solid biofuel production. Biomass energy can be used for a variety of purposes, including power generating, heating, and cooking.

Technology Insights

Based on the technology segment, the global biomass power generation market is categorized into combustion, pyrolysis, gasification, anaerobic digestion, landfill gas & others. The combustion held the largest market share in 2020 of the global biomass power generation market attributing by the comparison to other modern biomass power technologies, the combustion technology is simple to operate and operates at a lower cost. This is predicted to increase demand for combustion technology over other current technologies in the industry. The waste is immediately combusted in the combustion chamber to generate heat in the combustion process, whereas partial combustion, pressure, and heat are employed to make syngas in the gasification process.

REGIONAL INSIGHTS

The global biomass power generation market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Europe region is dominating the market share of global biomass power generation market owing to heavily depending on coal. Gas-based power generation is growing faster than coal-based power generation, thanks to the recent finding of shale gas reserves in the region. Environment conscious and acting strictly against carbon emission violator with huge penalties. The countries are taking an initiative to promote green energy and biomass is consumed widely to promote its advantageous property. Germany, UK, and Italy share a large percentage of the total EU bioelectricity generation. The simplistic approach undermines the potential and needs for bio-power complement variable renewable energy sources while displacing environmentally harmful fossil fuels. Therefore, Europe is competently providing a suitable market for the growth of biomass power generation.

However, Asia Pacific is expected to witness fastest growth rate over the forecast period of biomass power generation market due to the need for biomass power generation in APAC is predicted to rise as a result of the government's full electrification initiative and a disorganised grid system. Growing population and rising per capita disposable income, there is an increased demand for energy. Furthermore, the fastest-growing economies in this region are also the world's worst polluters. Furthermore, due to the abundance of natural resources in the region, Asia-Pacific is expected to experience tremendous expansion. The planned government law to promote investments in the biomass power sector in emerging economies such as India and Indonesia promises significant growth.

KEY INDUSTRY DEVELOPMENTS:

May 2022- Valmet has been chosen for the upcoming project by Vilnius Combined Heat and Power Plant (Vilnius CHP) in Lithuania which is working on a modern heat generation capacity expansion project in the Vilnius central heating system. For the completion of for completing the biomass boiler, flue gas cleaning and flue gas condensing system. ACCIONA Energía signs agreement with NH Hotel Group for the supply of 100% renewable energy to the hotels in Spain and Portugal.

April 2022- John Wood Group has teamed up with the government of Antigua and Barbuda on a feasibility assessment and transition plan for an electric zero-emission bus and cab. Ameresco has partnered with Hickam Communities LLC for energy conservation project which will offer energy solutions to modernize over 2,500 privatized military housing units.

February 2020- General Electric has signed with Hitachi Zosen Corporation for the planning to provide renewable steam technology for the high efficiency Kamisu Biomass Power Generation plant in Japan.

November 2019- E.ON intends to construct a biomass power plant on a UPM paper mill site in Hürth. The new plant will have a 20 megawatt (MW) electricity output and an 87 megawatt (MW) thermal firing capacity. E.ON plans to invest roughly €110 million in the project, which could result in the creation of over 30 new jobs.

LIST OF KEY COMPANIES PROFILED:

• Babcock & Wilcox Enterprises, Inc.
• E.ON SE
• General Electric
• John Wood Group PLC
• Valmet
• ACCIONA
• Ameresco
• ANDRITZ
• Vattenfall AB
• Ørsted A/S
• Helius Energy Plc
• MGT Teesside Ltd

SEGMENTATION

By Feedstock

• Solid biomass
• Biogas
• Liquid biomass
• Agricultural and forest residue
• Municipal solid waste
• Others

By Technology

• Combustion
• Pyrolysis
• Gasification
• Anaerobic Digestion
• Landfill gas
• Others

By End-use Industry

• Residential
• Industrial
• Commercial

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia