Global Biomass Power Generation Market: About this market This biomass power generation market analysis considers sales from solid biomass, biogas, municipal solid waste, and liquid biomass feedstocks.
New York, Oct. 21, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biomass Power Generation Market by Feedstock and Geography - Global Forecast and Analysis 2019-2023" - https://www.reportlinker.com/p05823456/?utm_source=GNW
Our analysis study also considers finds the sales of biomass power generation in APAC, Europe, North America, South America, and MEA. In 2018, the solid biomass segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing the use of renewable sources of energy will play a significant role in the solid biomass segment to maintain its market position. Also, our global biomass power generation market report looks at factors such as the growing need for cleaner energy supply and increasing government support for the development of biomass power. However, competition from alternative energy sources, high project and feedstock costs, and regulatory policy-related challenges for wood fuels may hamper the growth of the biomass power generation industry over the forecast period.
Global Biomass Power Generation Market: Overview
Growing need for cleaner energy supply
The growing concerns about the change in climate and rising levels of GHGs in the atmosphere resulting from the burning of fossil fuels such as coal and oil are driving the demand for renewable energy resources. The use of renewable energy resources such as biomass to generate clean energy is further encouraged by the growing energy demand, clean energy initiatives, and the provision of subsidies by governments. The continuous use of cleaner biomass energy can help in minimizing the effects of global warming, and it is available in abundance, unlike fossil fuels. This growing need for cleaner energy supply will lead to the expansion of the global biomass power generation market at a CAGR of over 6% during the forecast period.
Adoption of biomass in fuel cell technology
Fuel cell and hydrogen technologies offer a way to convert environmental hazards into clean and renewable power by producing hydrogen, which can be used as a fuel in stationary fuel cells. There are sSeveral types of fuel cells that can operate on run off various fuels such as pure hydrogen and biomass feedstocks, including waste gas and methane from biomass sources. Researchers are working on a process to enable agricultural and urban wastes to contribute to a future hydrogen economy. The emergence of such innovative technologies will be helpful in instantaneous power generation as per consumer requirements. The adoption of biomass in fuel cell technology is likely to generate power using biomass feedstocks, thereby driving the growth of the global biomass power generation market during the forecast period.
With the presence of several major players, the global biomass power generation market is highly fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading biomass power generation manufacturers, that include Acciona SA, Ameresco Inc., ANDRITZ AG, Babcock & Wilcox Enterprises Inc., Drax Group Plc, E.ON SE, ENGIE SA, General Electric Co., John Wood Group, Plc., and Vattenfall AB
Also, the biomass power generation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05823456/?utm_source=GNW
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