Rapid growth in the renewable energy
industry is anticipated to boost growth in the global biopower market.
The global demand for biopower market is primarily driven by the growing
demand for energy. Biopower is a niche renewable energy market;
however, the market is estimated to grow rapidly in the future. Biopower
is both cost-competitive and reliable source of power and further helps
the U.S. and several European countries to meet their goals set under
renewable portfolio standards (RPS). Additionally, power generation from
biopower technologies can also promote economic growth of the countries
involved in generating power from biopower technologies. The
aforementioned factor is further likely to create diverse job
opportunities for small businesses, equipment suppliers, power plant
vendors, utilities, and agribusinesses. Moreover, it also helps in
reducing impacts to the climate and environment. The market is expected
to register a significant growth in the future on account of factors
mentioned above.
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Biopower is the energy produced from
renewable energy sources such as biomass and to a small amount by
biogas. Biopower is emerging as an attractive alternative for utilities
to supply power in the case of intermittent supply of electricity from
renewable energy sources, including wind. The global market for biopower
can be fragmented on the basis of technology and geography to portray
an overall picture of the market. On the basis of technology, the global
biopower market can be segmented as biomass and biogas. Presently, most
of the power is majorly generated from solid biomass such as wood in
commensuration to the smaller amount of biopower generated from
biofuels, municipal solid waste (MSW), and biogas. Globally, the
biopower plants are owned and operated by a wide range of stakeholders
including small-scale community users (institutional users), independent
power producers, utilities, and industrial users (lumber companies, and
pulp and paper mills).
Various technologies of biopower
potentially transform raw biomass material indirectly or directly into
electricity, including anaerobic digestion, pelletization, torrefaction,
pyrolysis, gasification, cofiring with natural gas or coal. The market
for biopower is expected to increase significantly in the future on
account of underlying factors. The primary growth driver in the global
biopower market is an increase in global energy demand. Additionally,
climate and environmental concerns are likely to further propel growth
in the market. Increasing investments by governments in the biopower
technologies to reduce their reliance on fossil fuels and increase their
energy security is likely to play a key role in the market’s growth.
Regulatory support to the use of renewable energy sources for power
generation has been a key catalyst to the growth of biopower market. The
continuing need for subsidies for development of biopower in European
countries along with high capital and operating costs, and lack of
uniform and well-characterized feed stocks may restrain growth in the
biopower market across the globe. However, increasing research and
development coupled with a certain policy environment for investors and
tax parity for biopower is likely to escalate growth in the global
biopower market.
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The global biopower is a niche market
in the renewable energy industry and is likely to grow at a significant
rate in the future. North America and Europe hold the largest market
share in the global biopower market. Countries such as the U.S., Germany
and UK contribute the most to the market’s growth; the growth in these
regions is driven by the regulatory support and increased demand for
power from renewable energy sources. Stringent environment regulations
along with higher carbon prices are likely to drive growth in these
regions in the future. Asia Pacific is an emerging growth market of
biopower. India and Brazil are likely to contribute the most to the
growth in the Asia Pacific’s biopower market.
Some of the key players in the global
biopower market include A2A, Biopower Operations Corporation, Dalkia,
EnviTec Biogas AG, MVV Energie SG, Schmack Biogas GmbH, and Weltec
Biopower GmbH.
This research report analyzes this
market on the basis of its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include :
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of :
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing
market players and new entrants along with detailed value chain
analysis.
Reasons for Buying this Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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