Biomass and Waste-to-Energy

Biomass and Waste-to-Energy

Global Biomass and Waste-to-Energy Market to Reach US$45.7 Billion by 2030

The global market for Biomass and Waste-to-Energy estimated at US$32.1 Billion in the year 2023, is expected to reach US$45.7 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2023-2030. Thermal Technology, one of the segments analyzed in the report, is expected to record a 5.0% CAGR and reach US$36.4 Billion by the end of the analysis period. Growth in the Biological Technology segment is estimated at 6.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.7 Billion While China is Forecast to Grow at 6.3% CAGR

The Biomass and Waste-to-Energy market in the U.S. is estimated at US$5.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.5 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.2% and 5.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Global Biomass and Waste-to-Energy Market - Key Trends & Drivers Summarized

Biomass and waste-to-energy (WTE) technologies are increasingly recognized as pivotal components of sustainable energy strategies. Biomass refers to organic material derived from plants and animals, which can be used directly as fuel or converted into biofuels through various processes. Common sources include agricultural residues, forestry by-products, and dedicated energy crops. Waste-to-energy, on the other hand, involves the conversion of municipal solid waste (MSW) into usable heat, electricity, or fuel. This process not only helps in managing waste but also in generating renewable energy, thereby addressing two critical issues simultaneously: waste management and energy production. The integration of these technologies supports the reduction of greenhouse gas emissions and reliance on fossil fuels, contributing significantly to environmental sustainability and energy security.

The technologies used in biomass and WTE processes are diverse and continuously evolving. Biomass conversion methods include direct combustion, anaerobic digestion, and gasification. Direct combustion involves burning biomass in boilers to produce steam for electricity generation. Anaerobic digestion utilizes microorganisms to break down organic matter in the absence of oxygen, producing biogas that can be used for heat and power. Gasification converts biomass into a syngas through partial oxidation, which can then be used to generate electricity or produce chemicals. Similarly, WTE technologies encompass incineration, pyrolysis, and plasma arc gasification. Incineration involves burning waste at high temperatures to produce steam for power generation. Pyrolysis thermally decomposes organic material at high temperatures in the absence of oxygen, producing bio-oil and syngas. Plasma arc gasification uses electrically generated plasma to convert waste into syngas and slag, minimizing residual waste. These technological advancements enhance the efficiency and environmental performance of biomass and WTE facilities, making them more viable and attractive solutions for modern energy challenges.

The growth in the biomass and waste-to-energy market is driven by several factors, including technological advancements, policy support, and increasing awareness of environmental issues. Technological advancements have significantly improved the efficiency and scalability of biomass and WTE systems, making them more cost-effective and capable of handling larger volumes of waste and biomass. Government policies and incentives, such as tax credits, subsidies, and renewable energy mandates, play a crucial role in promoting the adoption of these technologies. The increasing awareness and concern about environmental issues, particularly climate change and waste management, have spurred both public and private sector investments in biomass and WTE projects. Furthermore, the growing demand for renewable energy sources to meet rising energy needs and the shift towards a circular economy, where waste is minimized, and resources are reused, also contribute to market growth. The integration of smart grid technologies and advancements in material recovery from waste are additional drivers, enabling more efficient and sustainable energy production from biomass and waste resources. Collectively, these factors highlight the dynamic and multifaceted growth of the biomass and waste-to-energy market, emphasizing its critical role in the transition towards a more sustainable and resilient energy future.

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