(MENAFN- EIN Presswire)
Biomass briquettes, as a renewable and carbon-neutral energy source, offer a promising alternative to traditional fossil fuels.
WILMINGTON, DE, UNITED STATES, October 18, 2024 /EINPresswire / -- According to the report, the biomass briquette
market size was valued at $0.9 billion in 2023, and is estimated to reach $1.9 billion by 2033, growing at a CAGR of 7.9% from 2024 to 2033. "Biomass Briquette Market by Type (Sawdust Briquettes, Agro waste Briquettes and Wood Briquettes), Application (Power Generation, Heating, Cooking and Others): Global Opportunity Analysis and
industry Forecast, 2024-2033".
Download PDF Brochure:
The global biomass briquette market is experiencing growth due to growing awareness and regulations favoring sustainable energy sources drive demand for biomass briquettes. However, high initial costs associated with briquette production facilities are expected to hinder the growth of biomass briquette market. Moreover, growing emphasis on carbon-neutral fuels offers remunerative opportunities for the expansion of the global biomass briquette market.
Market Drivers
.Rising Environmental Awareness: Governments and industries are promoting sustainable energy sources to reduce carbon emissions. Biomass briquettes offer a cleaner alternative to fossil fuels.
.Government Incentives and Regulations: Many regions are providing subsidies, tax benefits, and carbon credits for adopting biomass-based energy solutions.
.Rural Industrialization & Energy Access: Biomass briquettes support decentralized energy systems, making them valuable for rural electrification and off-grid applications.
.Cost-Effectiveness: Briquettes made from agricultural or forestry waste help reduce both raw material and energy production costs.
Challenges and Restraints
.High Initial Setup Costs: Equipment and processing infrastructure investments can be a barrier for new entrants.
.Logistics and Storage Issues: Briquettes are bulky, requiring efficient transportation and storage systems to minimize degradation and costs.
.Lack of Awareness and Adoption: Limited awareness in developing regions slows market penetration. Fossil fuels still dominate in many industries.
Connect To Expert:
Opportunities
.Increasing Demand for Green Energy: Industrial sectors like cement, power plants, and metallurgy are increasingly adopting biomass briquettes to meet sustainability goals.
.Technological Advancements: Innovations in briquetting technology (higher compression and energy-efficient machinery) are enhancing product quality and cost-efficiency.
.Expansion in Emerging Markets: Regions in Asia, Africa, and Latin America are showing promising growth due to abundant agricultural waste and favorable policies.
.Carbon Neutral Goals: With corporations and governments striving toward net-zero carbon emissions, biomass briquettes can play a critical role in decarbonizing industrial processes.
By type, wood briquettes serve as a renewable energy source, helping to reduce dependence on fossil fuels and decrease greenhouse gas emissions. Unlike coal or natural gas, burning wood briquettes releases a lower amount of carbon dioxide, as the carbon released during combustion is roughly equivalent to the amount absorbed by the trees during their growth. This creates a more balanced carbon cycle and lessens the overall environmental impact.
By application, biomass briquettes are a sustainable and efficient alternative to traditional fossil fuels, particularly in heating applications. Biomass is a renewable energy source, meaning that its use helps to reduce reliance on finite fossil fuels and decrease greenhouse gas emissions. When burned, biomass briquettes release carbon dioxide, but this is offset by the carbon dioxide absorbed by the plants during their growth, resulting in a carbon-neutral cycle. Additionally, the use of biomass briquettes helps to reduce waste by converting agricultural and forestry residues into a valuable energy source, thus minimizing the environmental impact of waste disposal.
For Purchase Inquiry:
Regional Analysis
The biomass briquette market has shown significant regional variation in growth and adoption, driven by diverse energy needs and availability of raw materials. In North America, the market is primarily fueled by increasing environmental awareness and government policies promoting renewable energy sources, particularly in the U.S. and Canada, where biomass is integrated into the energy mix. In Europe, countries like Germany, Sweden, and Finland are leading in biomass briquette production, supported by robust legislation aimed at reducing carbon emissions and transitioning to sustainable energy solutions. The Asia-Pacific region, particularly India and China, is witnessing rapid growth due to a combination of abundant agricultural residues and strong demand for alternative fuels, as these countries strive to reduce reliance on fossil fuels. Meanwhile, in Africa, biomass briquettes present an opportunity for addressing energy poverty, with local initiatives focusing on converting agricultural waste into briquettes to provide cleaner cooking fuels. Overall, the biomass briquette market is poised for growth across regions, driven by the urgent need for sustainable energy solutions and the effective utilization of biomass resources.
Competitive Landscape
Players: -
.Radhe Industrial Corporation
.C.F. Nielsen A/S
.Jaykhodiyar
.ECOSTAN
.RUF US, Inc
.Gattuwala
.MaxTon Industrial Co., Ltd.
.WEIMA
.VOTECS
.GROSS Apparatebau GmbH
The report provides a detailed analysis of these key players in the global biomass briquettes market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
David Correa
Allied Market Research
+15038946022 ext.
email us here
Visit us on social media:
Facebook
X
Other
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN18102024003118003196ID1108794080
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.