Europe Biomass Power Market Research Report Forecast to 2027

Europe Biomass Power Market Research Report Forecast to 2027

Market Overview

The demand for biomass power is growing significantly in the Europe market owing to the ability to ensure reliable long-term operations for synchronous machines.

The Europe biomass power market is projected to grow at an 8.35% CAGR during the forecast period, 2021–2027. In 2020, the Europe biomass power market was dominated by Germany with a 24.17% share, followed by France and UK with shares of 17.49% and 16.41%, respectively. Biomass power produces electricity from chemical energy that is contained in organic matter. Various types of biomass are suitable for power production, including wood waste, energy crops, and agriculture residues. It is a type of power generated from renewable organic waste that would otherwise be burned or left as fodder in forest fires. In biomass power plants, the feedstock is burned to produce steam that helps turn the turbine to generate electricity, which provides heat to homes and industries.

The Europe biomass power market is anticipated to grow substantially during the forecast period owing to the increased demand for clean energy generation across the world to minimize reliability on fossil fuels for power. Furthermore, the rising demand for power across various end-use sectors is also expected to contribute to the growth of the Europe biomass power market during the forecast period. However, high capital requirements and operating costs associated with biomass power generation are expected to restrain the growth of the biomass power market during the forecast period. Nevertheless, favorable government policies and regulations worldwide are expected to create lucrative opportunities for vendors in the biomass power market.

Market Segmentation

The Europe biomass power market has been segmented based on feedstock, and region. Based on feedstock, the Europe biomass power market has been segmented into woody biomass, agriculture residues, forest residues, biogas, landfill, and sewage gas, energy crops, and industrial & municipal waste. The woody biomass segment is expected to grow at a faster rate during the forecast period. In 2020, the woody biomass segment held a share of 37.8% of the Europe biomass power market.

Regional Analysis

Based on Country, the Europe biomass power market has been segmented into Germany, France, the UK, Italy, Norway, Spain, and the Rest of Europe. Germany is expected to grow at a faster rate during the forecast period. In 2020, Germany held a 24.17% share of the Europe biomass power market.

Germany is the largest producer of biomass power in Europe. As of 2020, there are 15,437 plants across the country. The total cumulative capacity of electricity generation from biomass in the country is about 44.7 TW in 2020. The market in the country is driven by the rising concerns of environmental security and growing investments in renewable electricity generation.

For instance, in November 2019, the German electric utility company, E.ON, announced plans to invest USD 121 million in building a biomass power plant at a paper mill site in Hürth, Germany. The new biomass power plant is designed to have an electrical output of 20 MW and a thermal firing capacity of 87 MW.

Major Players

The major market players include Babcock & Wilcox Enterprise, Inc.m Mitsubishi Heavy Industries, Ltd., Suez Group, Orsted A/S.

COVID 19 Impacts

We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.Babcock & Wilcox Enterprise Inc.m Mitsubishi Heavy Industries
Ltd.
Suez Group
Orsted A/S

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