Global Biomass Power Generation Market Size to grow by US$ 107.2 Billion in 2030.

Press Release

Biomass not only generates significant electricity from residual waste, but it also balances the socio-economic component by saving the environment, which pushes the biomass power generating market. It is widely used around the world since raw materials are readily available, and biomass is regarded as an environmentally beneficial form of energy, implying that the biomass power generating market will rise.

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As per the survey of U.S. Department of Energy, In the United States, approximately 69 percent of currently operational LFG energy plants generate electricity. To generate energy for onsite consumption and/or sale to the grid, a variety of technologies can be employed, including reciprocating internal combustion engines, turbines, micro turbines, and fuel cells. Because of its low cost, high efficiency, and size ranges that complement the gas output of many landfills, the reciprocating engine is the most often used conversion technology for LFG electrical applications.

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 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.

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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.

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.

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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.

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