Rapid growth in the renewable energy industry is anticipated to boost growth in the global biopower market. The global demand for biopower market is primarily driven by the growing demand for energy. Biopower is a niche renewable energy market; however, the market is estimated to grow rapidly in the future. Biopower is both cost-competitive and reliable source of power and further helps the U.S. and several European countries to meet their goals set under renewable portfolio standards (RPS). Additionally, power generation from biopower technologies can also promote economic growth of the countries involved in generating power from biopower technologies. The aforementioned factor is further likely to create diverse job opportunities for small businesses, equipment suppliers, power plant vendors, utilities, and agribusinesses. Moreover, it also helps in reducing impacts to the climate and environment. The market is expected to register a significant growth in the future on account of factors mentioned above.
Biopower is the energy produced from renewable energy sources such as biomass and to a small amount by biogas. Biopower is emerging as an attractive alternative for utilities to supply power in the case of intermittent supply of electricity from renewable energy sources, including wind. The global market for biopower can be fragmented on the basis of technology and geography to portray an overall picture of the market. On the basis of technology, the global biopower market can be segmented as biomass and biogas. Presently, most of the power is majorly generated from solid biomass such as wood in commensuration to the smaller amount of biopower generated from biofuels, municipal solid waste (MSW), and biogas. Globally, the biopower plants are owned and operated by a wide range of stakeholders including small-scale community users (institutional users), independent power producers, utilities, and industrial users (lumber companies, and pulp and paper mills).
Various technologies of biopower potentially transform raw biomass material indirectly or directly into electricity, including anaerobic digestion, pelletization, torrefaction, pyrolysis, gasification, cofiring with natural gas or coal. The market for biopower is expected to increase significantly in the future on account of underlying factors. The primary growth driver in the global biopower market is an increase in global energy demand. Additionally, climate and environmental concerns are likely to further propel growth in the market. Increasing investments by governments in the biopower technologies to reduce their reliance on fossil fuels and increase their energy security is likely to play a key role in the market’s growth. Regulatory support to the use of renewable energy sources for power generation has been a key catalyst to the growth of biopower market. The continuing need for subsidies for development of biopower in European countries along with high capital and operating costs, and lack of uniform and well-characterized feed stocks may restrain growth in the biopower market across the globe. However, increasing research and development coupled with a certain policy environment for investors and tax parity for biopower is likely to escalate growth in the global biopower market.
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The global biopower is a niche market in the renewable energy industry and is likely to grow at a significant rate in the future. North America and Europe hold the largest market share in the global biopower market. Countries such as the U.S., Germany and UK contribute the most to the market’s growth; the growth in these regions is driven by the regulatory support and increased demand for power from renewable energy sources. Stringent environment regulations along with higher carbon prices are likely to drive growth in these regions in the future. Asia Pacific is an emerging growth market of biopower. India and Brazil are likely to contribute the most to the growth in the Asia Pacific’s biopower market.
Some of the key players in the global biopower market include A2A, Biopower Operations Corporation, Dalkia, EnviTec Biogas AG, MVV Energie SG, Schmack Biogas GmbH, and Weltec Biopower GmbH.
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