Biomass Power Market, By Feedstock (Solid Biofuel, Liquid Biofuel, and Biogas), By Technology (Combustion, Gasification, and Anaerobic Digestion), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024

Code : CMI7071

Pages :134

Formats :

Excel and PDF

Industry : Energy

Market Concentration and Competitive Landscape

Biomass Power Market Concentration By Players

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Carbon Reduction Benefits of Biomass

One of the major drivers for the rising popularity of biomass power is its ability to provide carbon reduction benefits. Biomass is considered a carbon neutral source since the carbon dioxide released during combustion is equivalent to the amount absorbed by the biomass feedstock during its growth. While fossil fuel-based power generation significantly adds to greenhouse gas levels in the atmosphere, biomass power production is seen as a relatively better option to displace coal and natural gas in the energy mix of many economies. The negative emissions that biomass offers make it an appealing technology for companies and regions aiming to lower their carbon footprint. According to some research studies, replacing coal with co-firing of biomass can help reduce lifecycle emissions from power plants by over 70%. An increasing focus on environmental sustainability and various carbon pricing mechanisms are motivating greater exploitation of biomass' carbon offset advantages. This, coupled with technology improvements, is likely to result in biomass power capacity taking up a larger share of global decarbonization efforts going forward.

Key Players Insights