Bioenergy Market 2024 - By Size, Share Analysis, Trends And Growth Forecast By 2033

 

Overview and Scope

Bioenergy refers to biomass, a form of renewable energy from organic materials that are used to produce electricity, transportation fuels, and heat. The biomass is transformed into a solid, liquid, or gaseous fuel and used as a primary renewable energy source for power generation, heating buildings and industries, and transportation.

 

Sizing and Forecast

The bioenergy market size has grown strongly in recent years. It will grow from $271.17 billion in 2023 to $296.74 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%.  The  growth in the historic period can be attributed to fossil fuel dependency concerns, energy security initiatives, rise in environmental awareness, agricultural residue utilization, industry shift towards renewable energy..

 

The bioenergy market size is expected to see strong growth in the next few years. It will grow to $424.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.  The growth in the forecast period can be attributed to market expansion in developing regions, urban waste-to-energy initiatives, global agricultural trends, industrial applications expansion, advancements in biomass conversion.. Major trends in the forecast period include transition to biorefineries, public-private partnerships, decentralized energy production, biofuels in transportation, policy support and incentives..

 

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Segmentation & Regional Insights

The bioenergy market covered in this report is segmented –

1) By Type: Biomass and Renewable Municipal Waste, Biogas, Liquid Biofuels

2) By Technology: Gasification, Fast Pyrolysis, Fermentation, Other Technologies

3) By Application: Power Generation, Heat Generation, Transportation, Other Applications

 

Top Major Players

Babcock and Wilcox Enterprises Inc.

Orsted A/S

Hitachi Zosen Corporation

Pacific Bioenergy Corp.

Enerkem Inc.

 

North America was the largest region in the bioenergy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioenergy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

 

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Major Driver Impacting Market Growth

Increasing demand for energy targets to reduce carbon emissions is expected to propel the growth of the bioenergy market going forward. Greenhouse gas emissions from human activities are responsible for the greenhouse effect, in which carbon dioxide from burning fossil fuels affects the climate. To reduce these emissions, countries are taking several steps to reduce carbon emissions. Bioenergy helps in achieving those targets by reducing carbon emissions and providing natural sources. For instance, the United States has set some targets to reduce net GHG emissions by 50–52% in 2030. Therefore, increasing demand for energy targets to reduce carbon emissions drives the bioenergy market.

 

Key Industry Players

Major companies operating in the bioenergy market report are Babcock and Wilcox Enterprises Inc., Orsted A/S, Hitachi Zosen Corporation, Pacific Bioenergy Corp., Enerkem Inc., MVV Energie AG, Enexor Energy LLC, Lignetics Inc., Green Plains Inc., Enviva Partners LP, POET LLC, Drax Group plc, Ameresco Inc., Archer Daniels Midland Company, EnviTec Biogas AG, CropEnergies AG, Abengoa Bioenergy US Holding LLC, Novozymes A/S, Alto Ingredients Inc., Valero Energy Corporation, BP Biofuels North America LLC, Cargill Inc., DuPont Industrial Biosciences USA LLC, Gevo Inc., LanzaTech Inc., Mascoma LLC, Myriant Corporation, Sapphire Energy Inc., Solazyme Inc., Amyris Inc., Butamax Advanced Biofuels LLC, Coskata Inc., Genomatica Inc., LS9 Inc., NexSteppe Inc., Renmatix Inc., Terrabon Inc., Virent Inc., Algenol Biofuels Inc.

 

The bioenergy market report table of contents includes:

1. Executive Summary

2. Bioenergy Market Characteristics

3. Bioenergy Market Trends And Strategies

4. Bioenergy Market - Macro Economic Scenario

5. Global Bioenergy Market Size and Growth

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31. Global Bioenergy Market Competitive Benchmarking

32. Global Bioenergy Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Bioenergy Market

34. Bioenergy Market Future Outlook and Potential Analysis

35. Appendix

 

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