Bioenergy market is expected to exceed US$ 600 million by 2027 with a CAGR of 7.5% over the forecast period (2021-2027)
A comprehensive overview of the Bioenergy market is recently added by UnivDatos Market Insights to its humongous database. The Bioenergy market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Bioenergy market. The Bioenergy market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Bioenergy market at the global and regional levels. Bioenergy market is expected to exceed US$ 600 million by 2027 with a CAGR of 7.5% over the forecast period (2021-2027)
Market Overview
The bioenergy market is expected to grow with a significant CAGR in the coming years. Key factors influencing the growth of the biomass market include is wide availability as a renewable source of energy as the organic materials used to produce biomass are easily available whereas in the case of other renewable sources it is hard to rely on their constant availability. Biomass is produced from organic material/waste that would usually rot and produce CO2 and even methane (a greenhouse gas 21 times more potent than CO2). Therefore, bioenergy is not only sustainable but decreases the CO2 that would have been produced anyways. Furthermore, manufacturers are making an added revenue by producing bioenergy from their leftover waste. This also reduces the garbage dumped in landfills by 60-90% and reduces the cost of landfill disposal. Moreover, the world population is expected to increase to 8 or even to 10.5 billion by 2050 which will increase the need for energy consumption and to respond to this growing demand natural resources need to be used more efficiently and thus the needed switch to biofuels.
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COVID-19 Impact
The covid-19 pandemic had some form of an impact in all industries. The bioenergy sector was also significantly affected by the pandemic. The World Bioenergy Association (WBA) took a ‘COVID-19 and its impact on the global bioenergy sector’ survey in May 2020. Bioenergy Stakeholders were invited to respond to the survey consisting of impacts of covid on production, employment, revenue, and investments in the sector. According to the survey, the hardest hit sector was the liquid biofuels sector. The low price of oil makes it hard for biofuels to compete with the conventional fossil fuels. The significant drop in demand for transport fuels during the pandemic also caused hardships for biofuels, though some producers diverted their production to essential commodities like hand sanitizers. However, it did lead to large plant closures and reduced production volumes.
Bioenergy market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product Type, the market is primarily segmented into
· Solid Biomass
· Liquid Biofuels
· Biogas
· Others
Amongst Product Type, the Solid Biomass segment of the Bioenergy market was valued at US$ X billion in 2020 and is likely to reach US$ X billion by 2027 and is growing at a CAGR of X% from 2021-2027.
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By Feedstock, the market is primarily segmented into
· Agricultural Waste
· Wood & woody Biomass
· Solid Waste
· Others
Amongst Feedstock, Wood & Woody Biomass segment accounted for a market valuation of US$ X billion in 2020 and is expected to reach US$ X billion by the year 2027, at a CAGR of X% over the analyzed period.
By Application, the market is primarily segmented into
· Power Generation
· Heat Generation
· Transportation
· Others
Amongst Application, the Heat Generation segment of the Bioenergy market was valued at US$ X billion in 2020 and is likely to reach US$ X billion by 2027 and is growing at a CAGR of X% from 2021-2027.
Bioenergy Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the North America region dominated the Bioenergy market with almost X% revenue share in 2020. North America also saw the highest CAGR of X% in the forecast period due to the increasing demand of electricity.
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The major players targeting the market includes
· Enexor Energy
· Lignetics
· Green Plains Inc.
· Enviva
· Enerkem
· POET
· Drax Group
· Pacific BioEnergy Corp
· EnviTec Biogas AG
· MVV Energie AG
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Bioenergy market. The leading players have been analysed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Bioenergy market?
· Which factors are influencing the Bioenergy market over the forecast period?
· What are the global challenges, threats, and risks in the Bioenergy market?
· Which factors are propelling and restraining the Bioenergy market?
· What are the demanding global regions of the Bioenergy market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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