The global market for renewable energy is rapidly growing owing to a shift in trend to reduce reliance on conventional energy. The bio-energy market constitutes a critical part of the overall renewable energy market. Government support mainly in major developed nations has also been boosting the bio-energy market.
The concept ‘bio-energy’ is not only about electricity but can also be used in heat and transportation applications. The global market for bio-energy is rapidly evolving as a novel storm force in the energy market and represents numerous opportunities for both start-ups and conventional energy companies. Conventional energy companies across the globe are now shifting their focus towards developing their capabilities into a highly lucrative market.
Europe represents one of the major markets for bio-energy and expected to be a major force in the global market over a couple of years. Stringent regulations in Europe are expected to drive the future market for bio-energy. The Climate Change Act 2008 aims at reducing the carbon emission by at least 34% by 2020 and at least 80% by 2050 (against a 1990 baseline) in the U.K. In addition, The EU’s Renewable Energy Directive aims the U.K. to source 15% of its total energy demand from bio-based sources and 30% by 2030. Bio-energy is expected to account for half of the total renewable energy produced in the U.K. by 2020. Germany is another market which is poised for strong growth in the near future. Bio-energy accounted for 8% of the total energy consumed in Germany for the year 2011 and this percent share is expected to increase over the next decade.
The bio-energy market covers a range of technologies including biomass electricity, electricity from waste combustion, bio-energy boilers, and energy from waste-heat among some other technologies. Biomass electricity represents as one of the major growth sectors in the overall market rapidly growing expansions in developing biomass electricity projects. The feedstocks for biomass electricity include waste wood, woodchip, manure, agricultural wastes, energy crops, and sewage sludge. Bio-energy boilers also represent a critical segment that is expected to grow at a rapid pace over the next decade or so.
Grand View’s market research study takes a closer look at the bio-energy industry, providing a holistic perspective on market dynamics, trends, supply, and demand. Our report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro-level. The study aims at providing granular information, regarding estimates and forecasts for key technologies including biomass electricity, electricity from waste combustion, bio-energy boilers, and energy from waste-heat among some other technologies. The report also provides the same level of information for key regional markets.
The research report analyzes various factors which have been driving and inhibiting the global bio-energy market in the past. In addition, the research report analyzes the impact of each driver and restraint on the market growth based on which the market is forecasted. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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