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.

Market scope and structure analysis

COVID-19 impact analysis

• The global market for biomass fuel is severely impacted by the outbreak of the COVID-19 pandemic.
• The electricity generators who rely on peak prices for their revenue could be negatively impacted due to COVID-19, particularly coal and natural gas. 
• Lower demand peaks may result in less use of fossil fuels, and relatively more use of renewables in the generation stack. 
• Most renewable energy projects have long-term PPAs, so their revenues expected to be less affected; although merchant projects – those without PPAs – anticipated to be impacted by lower market prices. 

Top impacting factors: market scenario analysis, trends, and drivers

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. 

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 segments covered

Key benefits of the report

• This study presents the analytical depiction of the global biomass power generation industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global biomass power generation market share.
• the current market is quantitatively analyzed from 2020 to 2027 to highlight the global Biomass Power generation market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.