Market Research Future published a half cooked research report on “Global Bio Power Market Research Report – Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Bio Power Global Market – Overview
The Global Bio Power Market is growing with the rapid pace; mainly due to the increasing demand for energy. According to a recent study report published by the Market Research Future, The global market of Bio Power is getting the momentum and is expected to gain prominence over the forecast period. The global Bio Power market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2027).
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Power is one of the most critical components of infrastructure crucial for the economic growth and welfare of nations. The existence and development of adequate infrastructure is essential for sustained growth of an economy. Worldwide governments initiate plans to introduce a scheme to encourage setting up of biomass plants across the countries, which will generate electricity and also help dispose of agricultural waste in a carbon-neutral manner to help tackle growing pollution. Industries such as steel-making are expanding biomass usage for in-house energy generation to reduce emissions while the paper companies tap on bio power generation to energize profit.
Renewable energy industry is currently witnessing a significant surge in their demand; this is mainly due to the increasing demand for energy. Favourable government regulations regarding renewable sources of energy and development in technology which has made these renewable sources cost effective are expected to drive the demand in the Bio power market. Additionally, Improvements in technology have helped boost bio power performance. Both climate change and the increasing demand for energy is expected to drive the growth in the bio power sector.
Biopower or biomass, can involve several different systems: direct-fired, gasification, anaerobic digestion, pyrolysis, and small modular. The rice stalks cut off during the harvest – are a valuable product for bio power whereas, Zaandam, a city in the Netherlands, gets energy-generating plants. The plants have a street and a charging point for mobile phones deal with electricity.
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Bio Power Global Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Bio Power appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, Technology and services. They are drawing up investments for manufacturing expansion programme. These expansions, will help cut logistics cost, resulting in increased capacity with a potential to fetch a larger turnovers. Bio Power market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further resulting in further intensified competition.
The Bio Power Market has witnessed many key players announcing bio power projects. Most of the Bio Power Plants use woody biomass as feedstock and are slated to produce electricity to meet the electricity needs of thousands of residences in the vicinity with reduced CO2 emissions.
In India, the Ministry of New and Renewable Energy (MNRE) plans to launch an integrated bio energy mission with an investment of Rs 10,000 crore (US$ 1.5 billion) from FY 2017-18 to FY 2021-22, aimed at enhancing the use of bio-fuels like ethanol and biogas and reducing consumption of fossil fuels.
Bio Power Global Market – Segments
To give the insight information on Global Bio Power Market report, MRFR has segment the report in to 3 key dynamics –
Segmentation By Type: Comprises Biogas and Biomass.
Segmentation By Applications: Residential, Commercial and Industrial.
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
The residential segment acquires the largest market share in the Bio Power market. With the increasing awareness among individuals the demand for renewable energy has been increasing in the recent past and thus boosting the demand in the Bio Power market. With the increasing demand among household, the residential segment dominates the bio power market.
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Bio Power Global Market – Regional Analysis
North America is expected to dominate the Bio Power market mainly due to the favourable government regulations. The integration of Bio Power is expected to increase in the North American region providing the market with scope for further growth. Europe and Asia-Pacific are the other major regions for the Bio Power market due to boost in the manufacturing sector in these regions.
As bio power markets in Asia mature, the increased competition for wood pellets and chips will provide opportunities for suppliers of these materials around the globe. Biopower producers in Japan and South Korea will require a secure and consistent supply of both pellets and chips, sometimes from multiple suppliers in multiple geographies.
Japan targets its power generation from renewable sources to increase by 50 percent, and Bio power is expected to see a fivefold increase over the same period. The country’s renewal of its renewable energy feed-in-tariff (FIT) scheme, has prompted increased biomass throughputs and encouraged Japanese utilities to buy renewable electricity from wider areas, such as the industry sector.
India’s power sector is one of the most diversified in the world. Electricity demand in the country has increased rapidly and is expected to rise further in the years to come. In order to meet the increasing demand for electricity in the country, massive addition to the installed generating capacity is required.
Top Key Players
Some of the key players in the Bio Power market are A2A, Biopower Operations Corporation, Dalkia, EnviTec Biogas AG, MVV Energie SG, Schmack Biogas GmbH, and Weltec Biopower GmbH.
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