Biomass refers to biodegradable organic materials, which are originated from biological sources such as from animals, plants, and microorganisms. These organic materials include residues, wastes, products and byproducts from agriculture, forest, and relevant industrial wastes. In general terms, biomass refers to wood and agricultural waste, waste from urban and industrial residues, waste from the food processing industry, short rotation woody crops, sawdust, wood, municipal solid waste (MSW), and other materials. Biomass is also used as an energy source for the provision of heat, generation of electricity, and also as a fuel in the transportation industry. Biomass is an environment-friendly, carbon-neutral, and sustainable source of power that has the potential to minimize the reliance on fossil fuels.
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Factors Contributing towards Increasing Adoption of Biomass Power Generation
Rapidly growing industrialization, emerging economies, and the increasing demand for energy has propelled the global biomass power generation market in the recent past. Going forward, the increasing adoption of biomass power generation across the globe is expected to propel the global market. Unlike other sources, biomass power generation provides base load power, which is predicted to further boost the growth of the global market. The use of biomass resources for the generation of power forms an integral part of the many strategic initiatives taken by the governments of many nations. These initiatives intend to regroup the national energy economies and also enhance the share of renewable energy in the overall power generation mix.
Woody Biomass Segment Leads Global Market
The global biomass power generation market is segmented on the basis of region, feedstock type, and power conversion technology. Based on feedstock type, the global biomass power generation market is classified into agriculture and forest residues, woody biomass, biogas and energy crops, landfill gas feedstock, and urban residues. Currently, in terms of utilization of feedstock by biomass power plants, the global market for biomass power generation is dominated by the woody biomass segment. Alstom SA, DONG Energy A/S, Forth Energy Ltd., Enviva LP, The Babcock & Wilcox Company, Vattenfall AB, Ameresco, Inc., Drax Group plc, Helius Energy Plc, and MGT Power Ltd. are some of the prominent players operating in the global biomass power generation market.
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Anaerobic digestion, gasification, combustion, co-firing and CHP, and landfill gas (LFG) are some of the popularly adopted technologies for biomass power generation. By region, the global biomass power generation market is divided into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Government funding and favorable regulatory frameworks are two of the key factors expected to benefit the global biomass power generation market in the coming few years. Going forward, the investments in biomass power generation are expected to increase, especially from emerging nations such as Indonesia, India, Poland, and Australia. Biomass competes with conventional power sources due to the availability of low-cost forestry or agricultural residues and waste. The governments of many nations are expected to support the global biomass power sector by offering incentives that include tax incentives, feed-in tariffs, public competitive bidding, and loan guarantees.