What are the Historic and Forecasted Market Sizes for the Bioenergy Market?
The bioenergy market has experienced a strong growth trend in recent years. It is set to grow from $296.09 billion in 2024 to $323.44 billion in 2025 at a compound annual growth rate (CAGR) of 9.2%. Contributing factors for this growth are the escalating concerns of fossil fuel dependency, initiatives for energy security, rise in environmental awareness, increased usage of agricultural residue, and the industry’s shift towards renewable energy.
The forecast for the bioenergy market continues to be positive, with projected growth to $473.49 billion in 2029 at a CAGR of 10.0%. The continued growth is attributed to a market expansion in developing regions, waste-to-energy initiatives in urban areas, global agricultural trends, industrial applications expansion, and advancements in biomass conversion. Notable trends include the transition to biorefineries, public-private partnerships, decentralized energy production, the use of biofuels in transportation, policy support and incentives.
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What Are the Key Growth Drivers in the Bioenergy Market?
The increasing demand for energy targets aimed at reducing carbon emissions is forecasted to propel the growth of the bioenergy market. Measures are being taken to reduce greenhouse gas emissions as human activities like burning fossil fuels continue to affect the climate. Bioenergy contributes to achieving these targets by lowering carbon emissions and providing natural sources. For instance, the U.S. installed a record 31 gigawatts (GW) of solar energy capacity in 2023—a 55% increase from the previous year—as reported by the World Resources Institute in February 2024.
What Are the Major segments in the Bioenergy Market?
The bioenergy market covered in this report include the following segments:
1) By Type: Biomass And Renewable Municipal Waste, Biogas, Liquid Biofuels
2) By Technology: Gasification, Fast Pyrolysis, Fermentation, Other Technologies
3) By Application: Power Generation, Heat Generation, Transportation, Other Applications
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Which Are the Major Players in the Bioenergy Market?
Key companies operating in the bioenergy market include Babcock and Wilcox Enterprises Inc., Orsted A/S, Hitachi Zosen Corporation, Pacific Bioenergy Corp., Enerkem Inc., MVV Energie AG, Enexor Energy LLC, Lignetics Inc., Green Plains Inc., Enviva Partners LP, POET LLC, Drax Group PLC, Ameresco Inc., Archer Daniels Midland Company, EnviTec Biogas AG, CropEnergies AG, Abengoa Bioenergy US Holding LLC, Novozymes A/S, Alto Ingredients Inc., Valero Energy Corporation, BP Biofuels North America LLC, Cargill Inc., DuPont Industrial Biosciences USA LLC, Gevo Inc., LanzaTech Inc., Amyris Inc., Butamax Advanced Biofuels LLC, Genomatica Inc., NexSteppe Inc., Renmatix Inc., Virent Inc., Algenol Biofuels Inc.
What Are the Trends in the Bioenergy Market?
Advancements in bioenergy conversion technologies are emerging trends gaining popularity in the market. Major companies in the bioenergy market are accelerating their new technologies, research, and developments to maintain their position in the market. For instance, BASF SE, launched biomass balance plastic additives in September 2023. These products help in substituting renewable feedstock for fossil fuels, thereby assisting clients in reducing their carbon footprint and conserving fossil fuels.
Which Region Will Grow The Fastest in the Bioenergy Market?
North America was the largest region in the bioenergy market in 2024. The region forecasted to experience the fastest growth in the bioenergy market is Asia-Pacific. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Market Definition: What Does The Bioenergy Market Report 2025 Offer?
Bioenergy refers to biomass—a form of renewable energy derived from organic materials used to produce electricity, transportation fuels, and heat. The biomass is converted into a solid, liquid, or gaseous fuel and utilized as a primary renewable energy source for power generation, heating buildings and industries, and transportation. The Bioenergy Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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