Biomass- and Waste-to-Energy Market Size, CAGR, Trends 2024-2030

Biomass- and Waste-to-Energy Introduction

The Global Market Overview of "Biomass- and Waste-to-Energy Market" offers a unique insight into key market trends shaping the industry world-wide and in the largest markets. Written by some of our most experienced analysts, the Global Industrial Reports are designed to provide key industry performance trends, demand drivers, trade, leading companies and future trends. The Biomass- and Waste-to-Energy market is expected to grow annually by 11.8% (CAGR 2024 - 2031).

Biomass-to-energy and waste-to-energy are sustainable processes that convert organic materials such as agricultural residues, wood waste, and municipal solid waste into usable energy sources like electricity, heat, and biofuels. The purpose of these technologies is to reduce reliance on fossil fuels, minimize landfill waste, and lower greenhouse gas emissions.

Advantages of biomass-to-energy and waste-to-energy include reducing carbon emissions, diverting waste from landfills, and providing a renewable energy source. These processes also create jobs in the renewable energy sector and can contribute to energy security.

The biomass-to-energy and waste-to-energy markets are rapidly growing as governments and industries seek to meet sustainability goals and reduce their environmental impact. With advancements in technology and increasing awareness of the benefits of these processes, the biomass-to-energy and waste-to-energy market is poised for significant growth in the coming years.

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Market Trends in the Biomass- and Waste-to-Energy Market

- Advanced combustion technologies: Increasing use of technologies such as gasification and pyrolysis for more efficient biomass and waste-to-energy conversion.

- Demand for renewable energy sources: With growing concerns about climate change, there is a rising demand for clean and renewable energy sources like biomass and waste-to-energy.

- Shift towards circular economy: Companies and governments are focusing on creating a circular economy where waste is converted into energy instead of being disposed of in landfills.

- Innovations in waste sorting and pre-processing: Improved waste sorting technologies are enabling more efficient and cost-effective processing of biomass and waste for energy production.

- Emphasis on carbon neutrality: Biomass and waste-to-energy solutions are increasingly seen as a way to reduce carbon emissions and achieve carbon neutrality goals.

The Biomass- and Waste-to-Energy market is expected to experience significant growth in the coming years as these trends drive increased adoption of sustainable energy solutions.

Market Segmentation

The Biomass- and Waste-to-Energy Market Analysis by types is segmented into:

• Thermal
• Biological
• Other Technologies

Thermal technologies for biomass- and waste-to-energy include combustion, gasification, and pyrolysis. Biological methods like anaerobic digestion and fermentation are utilized for organic waste conversion. Other technologies such as digestion and fermentation are gaining traction for their efficiency in converting waste to energy. These types help in boosting the demand of the biomass- and waste-to-energy market by offering sustainable solutions for waste management, reducing greenhouse gas emissions, and providing renewable energy sources, thereby supporting the transition towards a cleaner and more environmentally friendly energy sector.

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The Biomass- and Waste-to-Energy Market Industry Research by Application is segmented into:

• Power Plant
• Heating Plant
• Other

Biomass- and Waste-to-Energy is used in power plants, where organic materials such as wood, agricultural residues, and waste are burned to generate electricity. In heating plants, biomass and waste are used as fuel to produce heat for residential and commercial buildings. Other applications include producing biofuels and biogas. The fastest growing application segment in terms of revenue is power plants, as there is increasing demand for renewable energy sources to meet sustainability goals and reduce greenhouse gas emissions. This trend is driving the growth of biomass- and waste-to-energy technologies in power generation.

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Geographical Spread and Market Dynamics of the Biomass- and Waste-to-Energy Market

The Biomass- and Waste-to-Energy market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa is experiencing rapid growth due to increasing environmental concerns and government initiatives to promote renewable energy sources. Key players such as Covanta Holding Corporation, Mitsubishi Heavy Industries Ltd., and Waste Management, Inc. are investing in expanding their presence in these regions. Market opportunities in these regions include technological advancements, government support, and increasing demand for sustainable energy solutions. Growth factors driving the market include rising urbanization, increasing waste generation, and the need for energy security. Companies like Suez, Veolia Environnement SA, and Babcock & Wilcox Enterprises, Inc. are focusing on partnerships and acquisitions to strengthen their market position.

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Biomass- and Waste-to-Energy Market Growth Prospects and Market Forecast

The expected CAGR for the Biomass- and Waste-to-Energy Market during the forecasted period is projected to be around 6% to 8%. Innovative growth drivers for this market include advancements in technology for converting biomass and waste into energy more efficiently, increasing governmental support and incentives for renewable energy projects, and growing awareness of the need for sustainable energy sources.

Innovative deployment strategies that can further boost the growth prospects of the Biomass- and Waste-to-Energy Market include implementing decentralized energy production models, utilizing hybrid systems that combine different renewable energy sources, and forming partnerships with industries to incorporate their waste streams into energy production processes.

Trends such as increasing investments in research and development for improving conversion technologies, expanding the use of biogas and biofuels in transportation, and integrating energy storage solutions with biomass and waste-to-energy projects are expected to drive growth in this market. Overall, the Biomass- and Waste-to-Energy Market is poised for significant expansion with the adoption of these innovative strategies and trends.

Biomass- and Waste-to-Energy Market: Competitive Intelligence

1. Covanta Holding Corporation: Covanta is a leading player in the biomass and waste-to-energy market with a strong focus on sustainability and renewable energy. The company has a track record of innovative market strategies, such as partnerships with municipalities for waste management solutions. Covanta reported a revenue of $ billion in 2020.

2. Hitachi Zosen Corporation: Hitachi Zosen is a global engineering and environmental solutions company that specializes in waste-to-energy technologies. The company has a history of successful projects in the biomass and waste-to-energy sector, with a strong emphasis on cutting-edge technology. Hitachi Zosen reported a revenue of $5.3 billion in 2020.

3. Veolia Environnement SA: Veolia is a multinational environmental services company with a strong presence in the biomass and waste-to-energy market. The company is known for its innovative approach to sustainability and waste management solutions. Veolia reported a revenue of $26.9 billion in 2020.

4. Xcel Energy, Inc.: Xcel Energy is a leading energy provider in the US, with a focus on renewable energy and sustainability. The company has been actively investing in biomass and waste-to-energy projects as part of its commitment to reducing carbon emissions. Xcel Energy reported a revenue of $11.6 billion in 2020.

5. Babcock & Wilcox Enterprises, Inc.: Babcock & Wilcox is a global leader in energy and environmental technologies, with a strong presence in the biomass and waste-to-energy market. The company has a history of delivering innovative solutions for waste management and energy production. Babcock & Wilcox reported a revenue of $897 million in 2020.

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