Report Code: A08334 | Pages: NA | Mar 2023 | 1931 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Biomass Power Generation Market
Request Now !Biomass fuel is a renewable source of energy, which is derived from organic material, a sustainable and renewable source of energy, to create electricity or other forms of power. In biomass power plants, wood waste or other waste is burned to produce steam that runs a turbine to make electricity or that provides heat to industries and homes. Fortunately, new technologies such as pollution controls and combustion engineering have advanced to the point that any emissions from burning biomass in industrial facilities are less than emissions produced when using fossil fuels.
COVID-19 impact analysis
Increase in use of renewable sources of energy and surge in demand from power production companies are driving the need for solid biomass. Power generation plants prefer biomass power to meet to the demand for clean and efficient coal-fired power generation.Â
One of the factors driving the growth of the global biomass power market include rise in need to control the emission of greenhouse gases (GHG). Upsurge in demand for environment-friendly renewable sources of energy act as an opportunity for biomass power market, as the use of renewable energy would help to improve public health and reduce global warming.
Moreover, the global biomass power market is projected to grow significantly in the upcoming period, due to the favorable government policies. For instance, according to the Ministry of New and Renewable Energy Report published by Government of India, Indian Renewable Energy Development Agency (IREDA) provides loan for setting up biomass power plants and other biogas cogeneration projects. This would drive the biomass power market growth, as this would increase the investment opportunities for new projects.
Biomass power generation market trends, such as the adoption of biomass in fuel cell technology, are expected to influence market growth.
However, mismanagement of biomass and lack of awareness among developing economies can restrict the market growth.
Key benefits of the report
Biomass Power Generation Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | Babcock & Wilcox Enterprises Inc., E.ON SE, General Electric Co., John Wood Group Plc, Thermax Ltd., Valmet Oyj, Acciona SA, Ameresco Inc, Andritz AG, Vattenfall AB |
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