Global Bioenergy Market – Industry Trends and Forecast to 2029

Bioenergy Market Analysis and Size

Bioenergy is a renewable source of energy in achieving the global climate change targets and wider environmental, sustainable targets and socioeconomic. Bioenergy possesses several key advantages such as energy reliability and security, cost saving, biodegradability, better air quality, reduced landfills, and others. Furthermore, Solid waste is the highest product type segment due to the increase in solid waste generation from commercial, residential and industrial sectors, which can be increasingly used in bioenergy generation during the forecast period of 2022-2029. Moreover, the rapid growth of the renewable energy industry due to an increase in awareness and investments toward benefits of renewable energy in developing countries considerably contribute to the growth of the global bioenergy market. 

Global bioenergy market was valued at USD 112,400.0 million in 2021 and is expected to reach USD 204,982.32 million by 2029, registering a CAGR of 7.80% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes technological advancements, regulatory framework, PESTEL, porter's five forces analysis, industry standards-at a glance, raw material costs/ operational expenditure-overview, supply chain analysis, vendor selection criteria, pricing analysis, production analysis, and climate chain scenario.

Report Scope and Market Segmentation

Market Definition

Bioenergy is one of several diverse resources available to help consumer meet their energy requirement. Energy generated using bio-based renewable sources such as biomass, biofuel, biogas and other bio-organic waste is known as bioenergy. It is a form of renewable energy which is derived from recently living organic materials that is also known as biomass, it can be used to produce heat, electricity, transportation fuels and products.

Bioenergy Market Dynamics

Drivers

• High demand of bioenergy

Bioenergy is high in demand as compared to conventional energy because the resources of bioenergy provide improved biodegradability, minimized carbon footprint, better energy reliability, reduced landfills and enhanced air quality. It can also reducing the energy bills and reliance on fossil fuels. These are the major factors which are expected to drive the growth rate of bioenergy market.

• Rising demand of solid waste

Solid wastes are widely used for several purposes such as transportation fuels, heat generation, sustainable electricity, and other purposes, which is anticipated to fuel the demand of the solid waste and drive the growth rate of the bioenergy market during the analyzed time frame.

Moreover, the utilization of renewable energy sources will encourage the manufacturer to expand their industry. Additionally, factors such as increasing industrialization, rapid urbanization, and growing awareness regarding the benefits of using bioenergy will further foster the market's growth rate.

Opportunities

• Growing expenditure for bioenergy industry

The surging initiatives and expenditure by market players further offer numerous growth opportunities within the market. For instance, the US Department of Energy and NREL (National Renewable Energy Laboratory) have launched several initiatives in the bioenergy industry. Moreover, the Department of Energy (DOE) has announced that the financing for 33 projects, which will be more than USD 97 million, will help in research and development activities.

• Surging favorable government initiatives and policies

Eco-friendly initiatives by the government are projected to increase the expansion rate of the bioenergy market over the forecast period. Governments offer various incentives that are lowering the expenses of component used in the production of bioenergy and predicted to improve the bioenergy market. As a result, the favorable government rules and policies associated with greener energy initiatives and the carbon footprint reduction create immense and various opportunities for the bioenergy market.

Restraints/Challenges

• High Overall Costs

The growth rate of the bioenergy market is slowed due to its high capital cost. Furthermore, there are many other logistical challenges associated with the bioenergy. The high initial cost associated with installation of bioenergy plant and rapid growth of the electric vehicle industry is hampering the growth of the bioenergy market.

This bioenergy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bioenergy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Bioenergy Market

The outbreak of COVID-19 pandemic has affected several industries and nations due the imposed of lockdowns, temporary ban by government on import, export, manufacturing and processing activities across the globe. Furthermore, funding for R&D activities and installation of bioenergy plants on development of bioenergy were on hold. This resulted in a decrease in the bioenergy market's growth in the second, third, and fourth quarters of 2020. However, the bioenergy market is anticipated to recover by the second quarter of 2021 as COVID-19 vaccination began in many economies of overall globe, which is anticipated to recover global economy, manufacturing operations and restarts R&D facilities in the bioenergy market.

Recent Developments

• In June 2021, EnviTec Biogas AG has signed a contract with Liquind 24/7 GmbH. This contract aims to distribute bio-LNG produced by EnviTec Biogas AG at Gustrow in Germany to heavy-duty customers at its truck fueling stations.
• After a brief 12-month building phase, In 2021 EnviTec Biogas AG started operating its biogas production in China. Turkey litter, Maize stover silage, and dairy cattle dung would be the inputs for the 1,570 Nm3 biogas facility in Shanxi province.

Global Bioenergy Market Scope

The bioenergy market is segmented on the basis of product type, technology, feedstock and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Solid Biomass
• Liquid Biofuel
• Biogas
• Others

 Feedstock

• Agricultural Waste
• Wood Waste
• Solid Waste
• Others

 Technology

• Gasification
• Fast Pyrolysis
• Fermentation
• Other Technologies

Application

• Power Generation
• Heat Generation
• Transportation
• Others

Bioenergy Market Regional Analysis/Insights

The bioenergy market is analyzed, and market size insights and trends are provided by country, product type, technology, feedstock and application as referenced above.

The countries covered in the bioenergy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Norway, Finland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Nigeria, Algeria, Angola, Ghana, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the bioenergy market in terms of market revenue and market share and due to the favorable government regulations and increasing biofuel consumption in this region.

Asia-Pacific, on the other hand, is the fastest growing region and shows lucrative growth over the forecast period of 2022 to 2029 due to enormous population and rising energy consumption in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Bioenergy Market Share Analysis

The bioenergy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bioenergy market.

Some of the major players operating in the bioenergy market are

• Renewable Energy Group, Inc. (U.S.)
• Mitsubishi Heavy Industries Ltd (Japan)
• MVV Energie AG (Germany)
• A2A SpA (Italy)
• Hitachi Zosen Corporation (Japan)
• BTG Biomass Technology Group (Netherland)
• Babcock & Wilcox Enterprises, Inc. (Sweden)
• Biomass Engineering Ltd (Indiana)
• Orsted (Denmark)
• Enerkem (Canada)
• Fortum (Finland)
• EnviTec Biogas AG (Germany)
• Pacific Bioenergy Corporation (Canada)
• Shell Plc (U.K.)
• BP Plc (U.K.))

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