Biomass alludes to biodegradable natural materials which are non-fossilized and start from organic sources got from plants, creatures, and smaller scale living beings. Biomass incorporates squanders, deposits, items, and results from woods, horticulture, and related ventures just as biodegradable natural divisions of civil and modern squanders. Biomass by and large alludes to farming and wood squanders, squander from sustenance handling ventures, urban and mechanical buildups, short revolution woody harvests, wood, sawdust, metropolitan strong waste (MSW), and a large group of different materials. It very well may be utilized as a wellspring of vitality contribution for the arrangement of warmth, power generation, and as a fuel in the transportation segment. Biomass is a carbon-unbiased, condition well disposed and supportable wellspring of power generation with a huge potential to diminish dependence on petroleum products.
Purchase this Premium Industry Research Report with Analysis
Rapidly growing industrialization, and developing and emerging economies such as China, India, and Brazil are fueling the demand for energy. Biomass power generation is increasingly adopted across the globe to meet policy targets for reliable, affordable, and secure supply of energy in order to promote economic development and improve electricity access. Biomass power generation, unlike other alternative sources, can also provide base load power which is expected to foster additional growth in the biomass power generation market. Clean sources of renewable energy form a significant part of the solution to economic, climate, environmental, and security challenges posed by the utilization of fossil fuels.
Biomass used for power generation can provide a low-carbon and sustainable alternative to fossil fuels, while allowing local communities to use domestic biomass resources. The utilization of biomass resources for power generation forms an important part of the strategic initiatives by various governments and institutions. These initiatives aim to reorganize the national energy economies and augment the share of renewable energy in the overall power generation mix.
For this study, the biomass power generation market has been segmented on the basis of feedstock type and biomass power conversion technology. On the basis of feedstock type, the biomass power generation market has been segmented into woody biomass, agriculture & forest residues, biogas & energy crops, urban residues, and landfill gas feedstock. According to current estimates, woody biomass is the single largest feedstock for power generation through biomass and occupies the major market share globally in terms of utilization of feedstock by biomass power plants. Agriculture and forest residues are the second most preferred biomass feedstock across the globe. The use of agriculture and forest residues to produce biomass power offers significant opportunity for local and regional economies along with the potential to tap resources around the country.
Regulatory framework and government support in terms of government grants and funding programs that provide investment subsidies and tax benefits play a key role in encouraging power generating companies and utilities to switch to environment-friendly biomass for power generation. Many countries such as the U.S., U.K., and Germany provide a range of incentives and grants to encourage the development and use of biomass as a source of energy. Some countries including India, Indonesia, Australia, and Poland are proposing legislation to boost investments in biomass power generation.
Key participants in the global biomass power generation market include Alstom SA, Ameresco, Inc., DONG Energy A/S, Drax Group plc, Forth Energy Ltd., Helius Energy Plc, Enviva LP, MGT Power Ltd., The Babcock & Wilcox Company, and Vattenfall AB. The report provides an overview of these companies, followed by their financial overview, business strategies, and recent developments.