Global Biopower Market: Overview
Biopower refers to the energy produced by biomass, which is organic matter that can be used as fuel. With the growing population across the globe and rapid urbanization, while natural resources of energy remain limited, the need for alternative energy resources is escalating. Although the concept of biopower has been around for decades, technological advancements have improved the efficiency and made the concept more reliable now than ever before. Biopower is now emerging as an attractive alternative for intermittent supply of electricity from renewable energy sources. Consequently, the global biopower market is projected for a healthy growth rate during the forecast period of 2016 to 2024.
This report on global biopower market is a comprehensive analysis of the current scenario and based on an analysis of all the major factors that are expected to influence the demand, it estimates the future of the market. The report also answers some of the essential questions about the trends and opportunities available in the market. One of the key feature of the report is the section on player profiles, wherein some of the leading players have been overviewed for their market share, regional outreach, production capacity, price and revenue, and latest strategic developments. The global market for bipower can be segmented on the basis of technology, into biogas and biomass, and by application into institutional users, independent power producers, and industrial. Geographically, the report studies the opportunities available in the regions of North America, Europe, Asia Pacific, and Rest of the world.
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Global Biopower Market: Trends and Opportunities
Increased investments on renewable energy resources is expected to reflect significantly on biopower market, as it is a niche renewable energy market. Additionally, biopower is not only a cheaper source of energy, it is reliable and is helping several European countries and the U.S. to reach their renewable portfolio standards (RPS). It has also been observed by the report that power generation from biopower technologies has a positive impact on climate and environments, and hence is gaining subsidies from several governments.
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On the basis of technology, the segment of biomass accounts for the maximum of the market share, as most of the power is generated from solid biomass such as wood in commensuration, while moderate amount of biopower is generated from municipal solid waste (MSW), biofuels, and biogas. Globally, the biopower plants are operated and owned by a range of stakeholders including independent power producers, small-scale community users (institutional users), industrial users (lumber companies, and pulp and paper mills), and utilities.
Global Biopower Market: Region-wise Outlook
Currently, North America and Europe serve most of the demand for bipower, owing to heavy investments and efforts for developing renewable energy resources, and the availability of latest technology. Country-wide markets of the U.S., the U.K., and Germany are most lucrative, driven by regulatory support and escalating demand for renewable energy resources. Asia Pacific is also expected to extend the demand during the forecast period, with India and Brazil as the prominent countries.