Biomass Power Market To Witness Significant Growth Owing To Technological Advancements Till 2024: Grand View Research, Inc.

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According to report published by Grand View Research,Biomass Power Market to gain from Increasing use of biomass such as plant and manure materials to produce electricity and generate biomass fuels for transportation is expected to contribute to the industry growth over the forecast period.

Biomass power market is anticipated to witness a significant growth owing to technological advancements and increasing focus on research and development to provide biomass for power generation. Increasing use of biomass such as plant and manure materials to produce electricity and generate biomass fuels for transportation is expected to contribute to the industry growth over the forecast period.

By feedstock, the market is segmented into urban residue, biogas, agriculture & forest residues, energy crop, and woody biomass and landfill gas feedstock. By technology, the biomass power generation is categorized into landfill gas, co-firing, combustion, CHP, anaerobic digestion, and gasification.

The combustion segment dominates the industry regarding installed capacity and power generation. However, the sector may witness decline due to the emergence of advanced technologies such as co-firing and Combined Heat and Power (CHP). These technologies are more feasible and used to minimize greenhouse emission.

Full research report on global biomass power market analysis:

Woody biomass is anticipated to lead global market followed by agriculture and forest residue owing to rapid growth of industrialization, emerging economies and the increasing demand for energy. Every country has their ways of using waste wood. In countries such Germany and the UK, waste wood is considered as renewable energy as they are used in particular biomass plants and as fuel for municipal waste incineration.

There are four thermochemical biomass conversion technologies for energy purposes namely gasification, liquefaction, pyrolysis and direct combustion. The selection is decided by characteristics of the fuel, costs and performance of the equipment available, energy and capacity needed and existed environmental legislations. Presently, biomass is converted into electricity by direct combustion method.

Since biomass fuels can contain elements that can harm engines such as chlorine components, metals and fly ash particles only, external combustion method is used. As it is harmful to the environment, flue gas treatment process is necessary.

In gasification process, biomass is converted into gaseous fuels, the major components being hydrogen and carbon monoxide. The gas produced can be used for generating electricity and also as synthesis gas in the chemical industries.

Co-combustion of biomass with lignite, peat and hard coal in traditional boilers represents one combination of fossil and renewable energy utilization that leads to benefits from both fuels. With fluidized bed fuel plants, a higher level of co-firing can be achieved whereas with pulverized fuel plants biomass can replace approximately up to ten percent of a boiler’s coal input with very fewer equipment alterations.

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The use of agro-industrial residues as biomass feedstock must be matched to the power plant type. While fluidized bed combustion systems have a relatively broad particle size tolerance, pulverized fuel combustion systems require a narrower range, which can be harder to obtain when using fibrous materials.

Improving economic conditions is leading to industrialization across the world resulting in high electricity consumption. High demand for electricity is expected to drive the demand for biomass energy over the future. Moreover, availability of carbon credits for renewable energy projects and the clean development mechanism (CDM) program may contribute to industry growth.

Decreasing oil reserves with uncertainty in crude oil prices is anticipated to strengthen the industry. The shift in the trend towards usage of renewable energy sources as an alternative to conventional resources is expected to increase the production growth in coming years.

Government initiatives and support regarding tariffs, tax incentives, loan guarantees and competitive public bidding is supposed to drive the industry over the forecast period.

The major restraining factor affecting the industry is high installation cost. Companies are involved in acquisition and mergers to sustain in the market and strengthen their market presence.

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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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