Biodiesel is the only form of renewable fuel that can be utilized across all energy segments namely electricity, heat and transportation which is one of the major contributing factors in the growth of the Biodiesel market. Increasing awareness regarding depleting non renewable energy sources and the need to integrate renewable energy sources has also contributed significantly to the increasing demand in the Biodiesel Market.
Growing environmental legislation and concerns are driving the need to develop and apply innovative alternative power and propulsion technology. Power is one of the most critical components of infrastructure crucial for the economic growth and welfare of nations. The existence and development of adequate infrastructure is essential for sustained growth of an economy. Worldwide governments initiate plans to introduce a scheme to encourage setting up of biodiesel plants across the countries, which will generate electricity and also help dispose of agricultural waste in a carbon-neutral manner to help tackle growing pollution. Industries such as steel-making are expanding biodiesel usage for in-house energy generation to reduce emissions while the paper companies tap on bio power generation to energize profit. The Global Bio Power Market is growing with the rapid pace; mainly due to the increasing demand for energy.
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- Enerkem among few
- INEOS New Planet BioEnergy
- Canergy LLC
- Abengoa bioenergy
- Poet-DSM Advanced Biofuels LLC.
Biodiesel Market – Segmentation
The Biodiesel Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation By Types : Comprises Methanol, Bio-hydrogen and Cellulosic ethanol and others.
- Segmentation By Application : Comprises Off Grid Electricity Supply & Transportation and others.
- Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
- Biodiesel manufacturers
- Biodiesel Suppliers
- Research and Development (R&D) Companies
North America is expected to dominate the biodiesel market mainly due to the favorable government regulations. The integration of biofuels is expected to increase in the North American region providing the market with scope for further growth. Europe and Asia-Pacific are the other major regions for the Biodiesel market due to boost in the manufacturing sector in these regions.
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