Since the Industrial Revolution, heat produced from biomass has been used to produce steam power, and in modern times biomass steam power is used to generate electricity. Biomass, necessarily generated in some form by all living things in the world, is one of the most abundant and extensively used renewable energy sources in the world, second only to hydropower for generation of electricity.
Due to its organic nature and low cost, biomass accounts for almost 15% of the energy supply of the world and as much as 35% in developing countries, mainly for heating and cooking. Biomass is a carbon-neutral, eco-friendly, and sustainable fuel, which has significant potential to reduce dependence on fossil fuels for power generation.
Biomass refers to non-fossilized organic matter and originates from biological sources such as plants, animals, and microorganisms. Biomass, generally, refers to agriculture and wood wastes, urban and industrial residues, woody crops, municipal solid waste (MSW), food processing waste, short rotation woody crops, sawdust, and a range of other substances.
Browse Market Research Report of Biomass Power Generation Market:
How is Biomass Gaining in Prominence in the Global Energy Scenario?
- Rapid industrialization in emerging economies such as India, China, and Brazil is fueling demand for energy. In these countries, biomass power generation is finding large-scale adoption due to governmental initiatives to promote the use of a reliable, affordable, and secure energy source for years to come.
- Clean energy sources such as biomass contributes significantly to addressing economic, environmental, and climatic challenges faced globally as a result of the utilization of fossil fuels.
- The use of biomass resources for power generation is an integral part of strategic initiatives by several governments and energy agencies. These efforts are aimed at reorganizing national energy economies and increasing the share of renewable energy in the overall power generation scenario.
- Based on a recent market study by Transparency Market Research (TMR), the global biomass power generation market is estimated to reach 738,350.3 million KWh by 2022. By value, the global biomass power generation market is expected to reach US$50,527.6 million by 2022.
TMR analysts explore the trends that have bearing on the global biomass power generation market:
- Woody biomass accounts as the single largest feedstock for biomass power generation, and registers a major market share in biomass power plants.
- Governments across regions such as North America, Europe, and East Asia are switching focus towards woody biomass to diversify from fossil fuels and alleviate effects of climate change.
- The use of forest and agricultural residues for biomass power production offers employment for regional communities along with ensuring utilization of potential resources around the country.
- Government support in the form of funds and grants, tax benefits, and investment subsidies will help encourage power generation companies to switch to eco-friendly sources such as biomass for power generation.
Browse Press Release of Biomass Power Generation Market:
Although biomass is a more sustainable power generation source than fossil fuels, technological innovations are needed for biomass to contribute as an efficient and economical fuel to the world energy scenario.
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