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According to SPER Market Research, the Global Biomass Electricity Market is estimated to reach USD 209.19 billion by 2030 with a CAGR of 6.4%.
HOLTSVILLE, NEW YORK, UNITED STATES, September 22, 2022 /EINPresswire.com / -- According to SPER Market Research, the Global Biomass Electricity Market is a type of renewable and sustainable energy that is used to generate electricity and other forms of power. Biogas is a reliable, cost-efficient, and secure power generation source. It has been used to promote economic development and improve electricity access.
The biomass electric power generating market comprises sales of biomass-generated energy and related services for residential and commercial usage. Biomass gasification is a process that includes burning biomass to generate producer gas or syngas to generate energy. The industry has grown as environmental concerns have compelled several countries to boost their use of renewable energy in their power mix.
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Market Overview (2022-2030)
• Forecast CAGR (2022-2030): 6.4%
• Forecast Market Size (2030): 209.19 Billion
Impact of COVID-19 on the Global Biomass Electricity Market:
Overexploitation of fossil resources over the last few decades has resulted in a supply bottleneck, which is compounded at regular intervals by the Middle East crisis. In addition to being scarce and non-renewable, fossil fuels pollute the environment and harm people's health globally. Because of these considerations, clean and renewable energy sources such as biomass are the best option for power generation. During the forecast period, the market will be propelled by rising awareness of the benefits of biomass power generation. Favorable government policies that provide financing and subsidies for the construction of biomass power plants will provide market participants with profitable opportunities.
One of the factors driving the expansion of the worldwide biomass power market is the increased need to limit greenhouse gas emissions (GHG). An increase in demand for environmentally acceptable renewable energy sources creates an opportunity for the biomass power industry since renewable energy helps to enhance public health and minimize global warming.
Industry Definition and Major Segments:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
Global Biomass Electricity Market, By Feedstock:
•Solid Biomass
•Biogas
•Municipal Solid Waste
•Liquid Biomass
Global Biomass Electricity Market, By End User:
•Household
•Industrial
•Government
•Others
Global Biomass Electricity Market, By Technology:
•Anaerobic Digestion
•Combustion
•Co-Firing
•Gasification
•Landfill Gas
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Global Biomass Electricity Market, By Region:
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East & Africa
This research also includes important market drivers and restraints for the forecast period. The study also covers several developments potential.
Key Market Players:
The Global Biomass Electricity Market study provides market data by the competitive landscape, revenue analysis, market segments, and detailed analysis of key market players such as; Acciona Sa, Ameresco Inc., Babcock & Wilcox Enterprises, Inc., CEZ, Dong Energy A/S, Drax Group, EDF, Engie, Enviva, EPH, General Electric, Iberdrola, Mitsubishi Power, Ltd., Ørsted A/S, Ramboll Group A/S, RWE, Suez.
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