Biopower Market

Biopower Market Research, 2031

The global biopower market size was valued at $14.2 billion in 2021, and bopower industry is projected to reach $26.3 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

The market is expected to recover due to eased lockdown restrictions in most nations. Furthermore, the government of various countries across the globe has issued policies regarding sustainable development in coming years which will have positive impact on the market. The presence of investment in the biofuel and biogas production plant in the developing countries such as India and China due to low availability of fossil fuel resources lead to surge in the market growth after the pandemic.

Biopower is energy that is generated from various bio mass using different technology such as direct combustion, anaerobic digestion, landfill gas, and others. It uses solid biofuel, liquid biofuel, and biogas as raw material to generate power. Solid biofuel is a plant and animal based waste, which is directly combusted to produce power for residential and commercial use. Liquid biofuel such as biodiesel and other liquid based biomass is used as power source for power generator to generate electricity.

The rapid rise in population across the globe has shown a great impact on the demand for energy resources. The ever-increasing future demands for energy resources and the gradual depletion of conventional resources are major factors that boost the growth of biopower market. The governments across the world have taken several initiatives toward clean energy & invested incompetent waste management techniques leading to proper disposal of waste and created opportunities to the increased biogas resources, thereby fostering the biopower market growth across the globe.

The rapid increase in modernization has increased the demand for material requirements to lead a comfortable life thereby leading to the presence of huge waste which led to demand for waste treatment plants. The governments across the globe have taken several initiatives to invest in waste management projects thereby increasing disposable waste material. According to Conserve Energy Future Organization, a tonnage of biodegradable waste can produce more than 500 cubic meters of landfill gas. It has created significant opportunities and acted as a resource for biogas to satisfy the high demand for energy thereby creating remunerative landfill gas growth opportunities across the globe.

In residential services, biopower such as biogas, solid biofuel, and liquid biofuel have wide range of applications. It is most commonly used in rural areas as cooking gas. It is used in the instruments used for water heating and room heating. In addition, it can replace compressed natural gas for use as a fuel source for generator. Furthermore, in commercial services, biopower has wide range of commercial applications such as biogas can be easily compressed and used to power automobiles. It is used for powering boilers and used in small scale combined heat and power plants. Biogas and biofuel are used as alternative power sources for the production of electricity through generators. It is used in the production of hydrogen gas that is used in various industries.

The biopower market forecast is segmented on the basis of feedstock, technology, end use, and region.

On the basis of feedstock, it is fragmented into solid biofuel, liquid biofuel, and biogas. On the basis of technology, the market is categorized into direct combustion, gasification, anaerobic digestion, landfill gas, and others. The landfill gas segment is further classified into electricity, direct use, combined heat & power, and alternate fuels. In addition, on the basis of end use, the global biopower market is segmented into residential, commercial, and industrial.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.

The major companies profiled in this report include Dalkia, EnviTec Biogas AG, Schmack Biogas GmbH, Orsted A/S, Babcock & Wilcox Enterprises Inc., Ameresco, MVV Energie AG, Enerkem, Drax Group, Helius Energy Plc, Alstom SA, Veolia, Ramboll Group A/S, and Mitsubishi Heavy Industries Ltd. The demand for portable electronics and construction of smart cities have fueled the construction of landfill gas facilities, which is expected to drive the biopower market growth. Additional growth strategies such as expansion of production capacities, acquisition, partnership, and research & innovation in the type of electronic load devices have led to attain key developments in the global biopower market trends.

The solid biofuel segment dominates the global biopower market. Solid biofuels are derived from non-fossil, organic materials, including plant biomass, animal waste, and municipal waste, which can be used to produce energy for heating, cooking, or electricity generation. Solid biofuel in the form of wood has been used since fire was discovered by humans for cooking, heating, and other applications. In recent years, solid biofuels are obtained from multiple sources including forest products, animal, agricultural residues, and dedicated energy crops. The rise in environmental concerns has forced various countries to increase the share of renewable energy in their power generation sector. Countries, such as India, China, Germany, the U.K., and France, have announced renewable energy targets and are aiming at becoming carbon-neutral nations in the future. Moreover, rise in adoption of sustainable resources in power generation, transportation fuel and presence of favorable policies and regulations drives the market. The rapid development in the manufacturing facilities of above mentioned products will provide ample opportunities for the development of the market.

The direct combustion segment dominates the global biopower market. Direct combustion is a thermochemical technique in which the biomass is burned in open air or in the presence of excess air. In this process, the photosynthetically stored chemical energy of the biomass is converted into gas.  The combustion technology has a non-complex operation and operates at a lesser cost compared to other advanced biomass power technologies. This is expected to drive the demand for combustion technology in the market over other available technologies. The easy availability and low cost of solid biofuels have resulted in their higher adoption over in the production of power through direct combustion. The above mentioned factors are anticipated to provide ample opportunities for the development of the market during the forecast period.

The industrial segment dominates the global biopower market. Industrial application of biopower is widely seen in the production of power in power generation sector. It is used to produce blended fuel for transportation of vehicles in the petroleum industry. In large scale manufacturing industries, it is used as power source for boilers and the excess heat is used for heating facilities and power generation facilities in the industry.  The rise in population across the globe, followed by the rapid urbanization in emerging regions has led to increase in the demand for power. The increase in awareness among the people regarding the environmental impact of the conventional power generation facilities has led to the shift toward sustainable power generation facilities. The presence of above mentioned advantages is expected to drive the growth of the market.

North America is analyzed across the U.S., Canada, and Mexico. U.S. and Canada are the major players in this region. The North America biopower market revenue is estimated to surpass $ 10.6 billion by 2031. The U.S. government regulations, especially after the proposal of the current President Biden with various initiatives and actions aim to produce three billion gallons of sustainable fuel, to reduce aviation emission by 20% by 2030, and support American agriculture & manufacturing while providing extra income to the farmers while helping the government to tackle the climate crisis. The Environmental Protection Agency (EPA) estimates that hundreds of landfills could support gas to energy projects and has also established the Landfill Methane Outreach Program. This program was developed to reduce methane emissions from landfills in a cost-effective manner while encouraging the development of eco-friendly and economically beneficial landfill gas to energy projects. The above mentioned policies and investments are major factors driving the growth of the market in this region during the forecast period.

Covid-19 Analysis

The global COVID-19 pandemic has negative impact on the biopower market. This market has experienced lower than anticipated demand across all regions compared to pre pandemic levels. The global market has exhibited a decline by about 25% in 2020 compared to 2019 due to shutdown of various food processing industries and agricultural activities from where feedstock is used as raw material for the production of biopower.

COVID-19 has negatively impacted the biopower market due to decline in manpower and material resources. Owing to stringent lockdown restrictions, the manufacturing activity got severely affected, which hampered the market growth and profitability. However, during the forecast period, the market is expected to recover due to eased lockdown restrictions in most nations. Furthermore, the government of various countries across the globe has issued policies regarding sustainable development in coming years which will have positive impact on the market. The presence of investment in the biofuel and biogas production plant in the developing countries such as India and China due to low availability of fossil fuel resources lead to surge in the market growth after the pandemic.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biopower market analysis from 2021 to 2031 to identify the prevailing biopower market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the biopower market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global biopower market trends, key players, market segments, application areas, and market growth strategies.

 Biopower Market Report Highlights