The global biomass power generation market stands to grow from a value of US$28,681.8 million in 2013 to US$50,527.6 million by 2022 at a 6.4% CAGR from 2014 to 2022. In terms of installed capacity, the biomass power generation market will rise from 72,571.9 MW in 2013 to 122,331.6 MW by 2022, developing at a 6.2% CAGR during that period. In terms of power generation, the market is anticipated to expand from 413,778.1 million KWh in 2013 to 738,350.3 million KWh in 2022, growing at a 6.8% CAGR from 2014 to 2022.
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On the basis of feedstock, the biomass power generation market is categorized into agriculture and forest residues, woody biomass, urban residues, biogas and energy crops, and landfill gas feedstock. Market estimates show that woody biomass currently holds the largest share of the biomass power generation market in terms of utilization, followed by agriculture and forest residues. Most economies opt for woody biomass as feedstock because it allows them to limit climate change, keep away from fossil fuels, and expand the share of biomass in the total power generation mix.
On the basis of technology, the biomass power generation market is segmented into combustion, anaerobic digestion, co-firing and CHP, gasification, and landfill gas. The combustion segment held the largest share of the biomass power generation market in 2013, in terms of both power generation and installed capacity. However, given that this segment is nearing maturity, it is expected to lose significant market share by the end of the forecast period. Emerging technologies such as co-firing and CHP are anticipated to become one of the most feasible options for biomass power generation by 2022. Co-firing and CHP is increasingly being used as a way to minimize greenhouse gas emissions.
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Geographically, the global biomass power generation market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Countries in North America and Europe boast of favorable regulatory framework and government support, which encourages the development as well as use of biomass for power generation. Incentives, grants, funding programs, investment subsidies, and tax benefits play a major role in boosting the biomass power generation market in countries such as the U.K., the U.S., and Germany. Emerging economies such as Indonesia, India, Poland, and Australia have also been proposing government legislations to fuel investments in biomass power generation.The most prominent players operating in the global biomass power generation market include DONG Energy A/S, The Babcock & Wilcox Company, Ameresco, Inc., Helius Energy Plc, Forth Energy Ltd., Vattenfall AB, Drax Group plc, MGT Power Ltd., Alstom SA, and Enviva LP.
The global biomass power generation market has been segmented as follows:
Global Biomass Power Generation Market: Feedstock Segment Analysis
Agriculture & Forest Residues
Biogas & Energy Crops
Landfill Gas Feedstock
Global Biomass Power Generation Market: Technology Segment Analysis
Co-firing & CHP
Landfill Gas (LFG)
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Global Biomass Power Generation Market: Regional Segment Analysis
Rest of North America
Rest of Europe
Rest of Asia Pacific
Middle East and Africa (MEA)
Rest of MEA
Rest of Latin America
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