Research Report with COVID-19 Forecasts-Global Biomass Power Generation Market 2020-2024 | Evolving Opportunities with Acciona SA and Ameresco Inc. | Technavio
LONDON--(BUSINESS WIRE)--May 21, 2020--
The global biomass power generation market is expected to grow by 39.21 GW as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 5%.
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Technavio has announced its latest market research report titled Global Biomass Power Generation Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on "Biomass Power Generation Market Analysis Report by Type (Solid biomass, Biogas, Municipal solid waste, and Liquid biomass), Geography (APAC, Europe, North America, MEA, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the growing need for cleaner energy. In addition, the adoption of biomass in fuel cell technology is anticipated to boost the growth of the biomass power generation market.
Growing concerns on the rising GHG levels in the atmosphere have significantly increased the adoption of renewable energy sources such as biomass, geothermal, solar power, wind power, and hydropower across the world. In addition, governments across the world are undertaking various initiatives such as offering subsidies and tax credits to promote the adoption of renewable energy technologies. For instance, the federal government in the US allows residential and commercial users to deduct 30% of the cost of solar energy system installation from their federal taxes. In June 2019, India announced its plans to produce 500 gigawatts of renewable energy capacity by 2030. Many such factors will fuel the growth of the global biomass power generation market during the forecast period.
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Major Five Biomass Power Generation Companies:
Acciona SA operates its business through segments such as Energy, Infrastructure, and Other businesses. The company deals with the design, construction, and operations of large-scale biomass plants for electricity generation.
Ameresco Inc. operates its business through segments such as U.S. Regions, U.S. Federal, Canada, and Non-Solar Distributed Generation. The company provides large biomass plants for energy needs and to reduce water consumption and energy costs.
Andritz AG operates its business through segments such as Pulp & Paper, Metals, Hydro, and Separation. The company offers biomass boilers and biomass handling systems.
Babcock & Wilcox Enterprises Inc.
Babcock & Wilcox Enterprises Inc. operates its business through segments such as Babcock & Wilcox, Volund & Other Renewable, and SPIG. The company offers biomass combustion energy plants.
E.ON SE operates its business through segments such as Energy Networks, Customer Solutions, and Renewables. The company provides biomass plants for efficiency, waste reduction, and sustainability.
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Biomass Power Generation Market Type Outlook (Growth, GW, 2020-2024)
- Solid biomass
- Municipal solid waste
- Liquid biomass
Biomass Power Generation Market Regional Outlook (Growth, GW, 2020-2024)
- North America
- South America
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
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SOURCE: Technavio Research
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PUB: 05/21/2020 01:30 PM/DISC: 05/21/2020 01:30 PM