Summary
Bio Power Market Research Report Forecast to 2030
Market Overview
According to projections, the Bio Power Market will expand at a compound annual growth rate (CAGR) of 5.72% from USD 96,680.49 million in 2023 to USD 1,42,703.07 million by 2030. Biofuels, biomass, and organic waste are examples of biological sources that can be used to create bio power, a renewable energy source. A vital part of the bioenergy industry, bio power is essential to the process of producing sustainable energy from organic resources.
This method provides a greener substitute for conventional fossil fuels and aids in the creation of sustainable energy. Biopower is produced from biomass using a variety of processes, such as thermal gasification, anaerobic digestion, landfill gas recovery, and direct combustion. With the use of these techniques, power can be produced from organic materials like forestry waste, energy crops, agricultural wastes, and organic municipal garbage.
Biopower systems utilize a variety of raw resources, including solid biomass, liquid biofuels, biogas, and industrial and municipal waste, to generate bioenergy. Solid biomass, which is produced by burning plant-based waste, is used to meet the energy needs of businesses, homes, and industries. While biogas is a useful resource for power production, liquid biofuels, such as biodiesel and other liquid-based biomass, are used as power sources for the production of electricity. Energy security and diversification are enhanced by the addition of bio power to the bioenergy landscape, which also helps to reduce greenhouse gas emissions. Bio power, which offers a renewable and dependable source of electricity for a variety of applications, is essential to the shift towards a more sustainable and environmentally friendly energy mix since it utilizes the potential of biomass resources.
Market Segmentation
The market for biopower has been divided into five categories based on technology: landfill gas, anaerobic digestion, pyrolysis, cofiring & gasification, direct combustion, and pyrolysis. The direct combustion segment held the highest revenue share of 53.98% in the global market in 2022 and is expected to maintain its dominance in the biopower market revenue during the forecast period.
The Bio Power Market is divided into three segments based on the kind of plant: residential, commercial, and industrial. With the biggest market revenue share of 35.78% in 2022, the industrial segment led the Bio Power Market and is expected to continue leading the Bio Power Market revenue through the anticipated time.
Regional Insights
The Asia Pacific bio power market held the maximum market share of 43.10% in 2022 and is also expected to account for a significant revenue share during the forecast period.
The Bio power market in the Asia Pacific region has experienced significant growth, driven by increasing awareness of environmental sustainability and the rise in the demand for cleaner energy sources. Governments across the region are actively promoting bioenergy projects, fostering a favorable regulatory environment. Investments in biomass and biogas technologies have surged, supported by technological advancements and the rising need for energy security. The dynamic combination of favorable policies, technological innovation, and a growing commitment to green energy solutions positions the Asia Pacific Bio power market as a robust and expanding sector, contributing substantially to the region's sustainable energy transition.
Major Players
The key players are Drax Group, BP PLC, Leo Group, Statkraft AS, Ørsted A/S, Afry AB, Thachang Green Energy Public Company Limited, Oulun Energia, Hyogo Pulp Co., Ltd., and Erex Group.
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Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ............................................................................................................... 13
1.1 MARKET ATTRACTIVENESS ANALYSIS ................................................................................................................ 14
1.1.1 GLOBAL BIO POWER MARKET, BY TECHNOLOGY ............................................................................................. 15
1.1.2 GLOBAL BIO POWER MARKET, BY END-USER ................................................................................................... 16
1.1.3 GLOBAL BIO POWER MARKET, BY REGION ....................................................................................................... 17
2 MARKET INTRODUCTION ............................................................................................................ 18
2.1 DEFINITION ........................................................................................................................................................ 18
2.2 SCOPE OF THE STUDY ........................................................................................................................................ 18
2.3 RESEARCH OBJECTIVE ....................................................................................................................................... 18
2.4 MARKET STRUCTURE .......................................................................................................................................... 19
3 RESEARCH METHODOLOGY ...................................................................................................... 20
4 MARKET DYNAMICS .................................................................................................................... 26
4.1 INTRODUCTION .................................................................................................................................................. 26
4.2 DRIVERS ............................................................................................................................................................. 27
4.2.1 RISING NEED TO CONTROL THE GREENHOUSE GAS EMISSIONS ....................................................................... 27
4.2.2 DEPLETION OF ENERGY RESOURCES ............................................................................................................... 28
4.3 RESTRAINTS ...................................................................................................................................................... 30
4.3.1 COST INTENSIVE BIO POWER PLANT SETUP WITH BIOMASS FEEDSTOCK AND SUPPLY CHAIN COMPLEXITIES . 30
4.4 OPPORTUNITY .................................................................................................................................................... 31
4.4.1 SURGING FAVORABLE REGULATIONS AND INITIATIVES BY GOVERNMENT AND MAJOR MARKET PLAYERS ....... 31
4.5 IMPACT ANALYSIS OF COVID-19 ......................................................................................................................... 32
4.5.1 IMPACT ON BIO POWER MARKET .................................................................................................................... 32
4.5.2 IMPACT ON SUPPLY CHAIN OF BIO POWER ..................................................................................................... 32
4.5.2.1 PRICE VARIATION OF KEY RAW MATERIALS ............................................................................................. 32
4.5.2.2 PRODUCTION SHUTDOWN ....................................................................................................................... 33
4.5.2.3 CASH FLOW CONSTRAINTS ..................................................................................................................... 33
4.5.2.4 IMPACT ON IMPORT/EXPORT .................................................................................................................. 33
4.5.3 IMPACT ON MARKET DEMAND OF BIO POWER ................................................................................................ 34
4.5.3.1 IMPACT DUE TO RESTRICTIONS/LOCKDOWN ........................................................................................... 34
4.5.3.2 CONSUMER SENTIMENTS ........................................................................................................................ 34
4.5.4 IMPACT ON PRICING OF BIO POWER ............................................................................................................... 34
5 MARKET FACTOR ANALYSIS ...................................................................................................... 35
5.1 SUPPLY CHAIN ANALYSIS................................................................................................................................... 35
5.1.1 RESEARCH & DEVELOPMENT .......................................................................................................................... 36
5.1.2 RAW MATERIAL SUPPLY ................................................................................................................................. 36
5.1.3 MANUFACTURER & ASSEMBLY ....................................................................................................................... 36
5.1.4 SALES & DISTRIBUTION .................................................................................................................................. 37
5.1.5 END USERS .................................................................................................................................................... 37
5.2 PORTER’S FIVE FORCES MODEL .......................................................................................................................... 38
5.2.1 BARGAINING POWER OF SUPPLIERS ............................................................................................................... 38
5.2.2 BARGAINING POWER OF BUYERS .................................................................................................................... 39
5.2.3 THREAT OF NEW ENTRANTS ........................................................................................................................... 39
5.2.4 THREAT OF SUBSTITUTES .............................................................................................................................. 39
5.2.5 INTENSITY OF RIVALRY .................................................................................................................................. 39
6 GLOBAL BIO POWER MARKET, BY TECHNOLOGY .................................................................. 40
6.1 INTRODUCTION .................................................................................................................................................. 40
6.2 DIRECT COMBUSTION: ........................................................................................................................................ 41
6.3 COFIRING & GASIFICATION ................................................................................................................................. 41
6.4 ANAEROBIC DIGESTION ...................................................................................................................................... 42
6.5 PYROLYSIS ......................................................................................................................................................... 42
6.6 LANDFILL GAS .................................................................................................................................................... 42
7 GLOBAL BIO POWER MARKET, BY END-USERR ...................................................................... 43
7.1 INTRODUCTION .................................................................................................................................................. 43
7.2 INDUSTRIAL ....................................................................................................................................................... 44
7.3 COMMERCIAL ..................................................................................................................................................... 44
7.4 RESIDENTIAL ...................................................................................................................................................... 44
8 GLOBAL BIO POWER MARKET, BY REGION ............................................................................. 45
8.1 OVERVIEW .......................................................................................................................................................... 45
8.2 NORTH AMERICA ................................................................................................................................................ 47
8.2.1 US.................................................................................................................................................................. 48
8.2.2 CANADA ........................................................................................................................................................ 49
8.2.3 MEXICO ......................................................................................................................................................... 50
8.3 EUROPE ............................................................................................................................................................. 51
8.3.1 GERMANY ...................................................................................................................................................... 52
8.3.2 FRANCE ......................................................................................................................................................... 53
8.3.3 UK ................................................................................................................................................................. 54
8.3.4 ITALY ............................................................................................................................................................. 55
8.3.5 SPAIN ............................................................................................................................................................ 56
8.3.6 RUSSIA .......................................................................................................................................................... 57
8.3.7 REST OF EUROPE ............................................................................................................................................ 58
8.4 ASIA-PACIFIC ..................................................................................................................................................... 59
8.4.1 CHINA ............................................................................................................................................................ 60
8.4.2 INDIA ............................................................................................................................................................. 61
8.4.3 JAPAN ........................................................................................................................................................... 62
8.4.4 SOUTH KOREA ................................................................................................................................................ 63
8.4.5 AUSTRALIA .................................................................................................................................................... 64
8.4.6 NEW ZEALAND ............................................................................................................................................... 65
8.4.7 REST OF ASIA-PACIFIC ................................................................................................................................... 66
8.5 SOUTH AMERICA ................................................................................................................................................ 67
8.5.1 BRAZIL ........................................................................................................................................................... 68
8.5.2 ARGENTINA ................................................................................................................................................... 69
8.5.3 REST OF SOUTH AMERICA .............................................................................................................................. 70
8.6 MIDDLE EAST & AFRICA ...................................................................................................................................... 71
8.6.1 SAUDI ARABIA ................................................................................................................................................ 72
8.6.2 UAE ............................................................................................................................................................... 73
8.6.3 SOUTH AFRICA ............................................................................................................................................... 74
8.6.4 NIGERIA ......................................................................................................................................................... 75
8.6.5 REST OF MIDDLE EAST & AFRICA .................................................................................................................... 76
9.2 COMPETITIVE BENCHMARKING .......................................................................................................................... 78
9.3 MARKET SHARE ANALYSIS, 2022 ........................................................................................................................ 80
9.4 THE LEADING PLAYER IN TERMS OF NUMBER OF DEVELOPMENTS IN GLOBAL BIO POWER MARKET ..................... 80
9.5.1 MERGER & ACQUISITION ................................................................................................................................. 81
9.5.2 EXPANSION & INVESTMENT ........................................................................................................................... 82
10 COMPANY PROFILES .................................................................................................................. 84
10.1 DRAX ................................................................................................................................................................. 84
10.1.1 COMPANY OVERVIEW ..................................................................................................................................... 84
10.1.2 FINANCIAL OVERVIEW .................................................................................................................................... 84
10.1.3 PRODUCTS OFFERED ...................................................................................................................................... 85
10.1.4 KEY DEVELOPMENTS ...................................................................................................................................... 85
10.1.5 SWOT ANALYSIS ............................................................................................................................................ 86
10.1.6 KEY STRATEGIES ............................................................................................................................................ 87
10.2 BP P.L.C. ............................................................................................................................................................ 88
10.2.1 COMPANY OVERVIEW ..................................................................................................................................... 88
10.2.2 FINANCIAL OVERVIEW .................................................................................................................................... 89
10.2.3 PRODUCT OFFERED ........................................................................................................................................ 89
10.2.4 KEY DEVELOPMENTS ...................................................................................................................................... 89
10.2.5 SWOT ANALYSIS ............................................................................................................................................ 90
10.2.6 KEY STRATEGIES ............................................................................................................................................ 91
10.3 LEO GROUP LTD ................................................................................................................................................. 91
10.3.1 COMPANY OVERVIEW ..................................................................................................................................... 91
10.3.2 FINANCIAL OVERVIEW .................................................................................................................................... 92
10.3.3 PRODUCTS/ SERVICES OFFERED ..................................................................................................................... 92
10.3.4 KEY DEVELOPMENTS ...................................................................................................................................... 93
10.3.5 SWOT ANALYSIS ............................................................................................................................................ 93
10.3.6 KEY STRATEGIES ............................................................................................................................................ 93
10.4 STATKRAFT ........................................................................................................................................................ 93
10.4.1 COMPANY OVERVIEW ..................................................................................................................................... 93
10.4.2 FINANCIAL OVERVIEW .................................................................................................................................... 94
10.4.3 PRODUCTS OFFERED ...................................................................................................................................... 94
10.4.4 KEY DEVELOPMENTS ...................................................................................................................................... 95
10.4.5 SWOT ANALYSIS ............................................................................................................................................ 95
10.4.6 KEY STRATEGIES ............................................................................................................................................ 95
10.5 ORSTED A/S ....................................................................................................................................................... 97
10.5.1 COMPANY OVERVIEW ..................................................................................................................................... 97
10.5.2 FINANCIAL OVERVIEW .................................................................................................................................... 98
10.5.3 PRODUCTS OFFERED ...................................................................................................................................... 98
10.5.4 KEY DEVELOPMENTS ...................................................................................................................................... 98
10.5.5 SWOT ANALYSIS ............................................................................................................................................ 99
10.5.6 KEY STRATEGIES ............................................................................................................................................ 99
10.6 AFRY AB ............................................................................................................................................................. 100
10.6.1 COMPANY OVERVIEW ..................................................................................................................................... 100
10.6.2 FINANCIAL OVERVIEW .................................................................................................................................... 100
10.6.3 PRODUCTS OFFERED ...................................................................................................................................... 101
10.6.4 KEY DEVELOPMENTS ...................................................................................................................................... 101
10.6.5 SWOT ANALYSIS ............................................................................................................................................ 102
10.6.6 KEY STRATEGIES ............................................................................................................................................ 102
10.7 THACHANG GREEN ENERGY PUBLIC COMPANY LIMITED ..................................................................................... 103
10.7.1 COMPANY OVERVIEW ..................................................................................................................................... 103
10.7.2 FINANCIAL OVERVIEW .................................................................................................................................... 104
10.7.3 PRODUCTS OFFERED ...................................................................................................................................... 104
10.7.4 KEY DEVELOPMENTS ...................................................................................................................................... 104
10.7.5 SWOT ANALYSIS ............................................................................................................................................ 104
10.7.6 KEY STRATEGIES ............................................................................................................................................ 106
10.8 OULUN ENERGIA OY............................................................................................................................................ 107
10.8.1 COMPANY OVERVIEW ..................................................................................................................................... 107
10.8.2 FINANCIAL OVERVIEW .................................................................................................................................... 108
10.8.3 PRODUCTS OFFERED ...................................................................................................................................... 108
10.8.4 KEY DEVELOPMENTS ...................................................................................................................................... 108
10.8.5 SWOT ANALYSIS ............................................................................................................................................ 108
10.8.6 KEY STRATEGIES ............................................................................................................................................ 109
10.9 HYOGO PULP CO., LTD. ....................................................................................................................................... 110
10.9.1 COMPANY OVERVIEW ..................................................................................................................................... 110
10.9.2 FINANCIAL OVERVIEW .................................................................................................................................... 110
10.9.3 PRODUCTS OFFERED ...................................................................................................................................... 110
10.9.4 KEY DEVELOPMENTS ...................................................................................................................................... 110
10.9.5 SWOT ANALYSIS ............................................................................................................................................ 110
10.9.6 KEY STRATEGIES ............................................................................................................................................ 111
10.10 EREX CO., LTD .................................................................................................................................................... 112
10.10.1 COMPANY OVERVIEW ..................................................................................................................................... 112
10.10.2 FINANCIAL OVERVIEW .................................................................................................................................... 112
10.10.3 PRODUCTS OFFERED ...................................................................................................................................... 112
10.10.4 KEY DEVELOPMENTS ...................................................................................................................................... 112
10.10.5 SWOT ANALYSIS ............................................................................................................................................ 112
10.10.6 KEY STRATEGIES ............................................................................................................................................ 113
