Global Bioenergy Market Outlook to 2028

Global Bioenergy Market Outlook to 2028

The Global Bioenergy Market is expected to grow at a strong pace over the forecast period driven by the ongoing global transition away from conventional fossil fuel-based energy sources toward alternatives such as solar, wind, and biomass. Biomass is viewed as a cheap and readily available alternative to crude oil. Across the World biomass emerged as one quick source of energy locally procured in various end-user applications such as transportation and cooking.

Bioenergy has seen increasing investment in the recent years and it is expected to grow on the back of strong government promotions and incentives offered to primary biomass producers, energy generating entities, and end users. The pace of establishing biofuel plants by private players has picked up and it is forecasted to grow going forward. Biomass, extracted primarily from food and feed crops, organic waste, wood, bagasse, and forest residues, has become a long-term part of the renewable energy mix in many countries around the World. Growing power consumption in India and China in the Asia-Pacific region, both in the commercial and industrial segment and lack of ready and reliable grid infrastructure is likely to have favorable influence on the demand for bioenergy.

Bioenergy market is segmented based on application into Transportation, Off-grid Electricity, Cooking, and others. Further, the market for bioenergy generators is segmented by geography into North America, Europe, Asia Pacific, and Middle East. Some of the prominent players in the field of manufacturing are Archer Daniels Midland, POET, Royal Dutch Shell, BP, Wilmar International, and Cargill.
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