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Biomass Power Generation Market Capacity is Estimated to Reach 122,331.6 MW by 2022: Transparency Market Research

Albany, NY, May 7, 2015 (GLOBE NEWSWIRE) -- According to the report, the global biomass power installed capacity stood at 72,571.9 MW in 2013 and is projected to reach 122,331.6 MW by 2022, expanding at a CAGR of 6.2% between 2014 and 2022. The global biomass power generation stood at 413,778.1 million KWh in 2013 and is anticipated to register a growth rate of 6.8% between 2014 and 2022 to reach 738,350.3 million KWh by 2022.

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The report also provides an estimated biomass power generation market based on the levelized cost of electricity. According to the study, the global biomass power generation market was valued at USD 28,681.8 million in 2013 and is projected to reach USD 50,527.6 million by 2022, expanding at a CAGR of 6.4% between 2014 and 2022.

Biomass in general refers to agriculture and wood wastes, waste from food processing industries, urban and industrial residues, short rotation woody crops, wood, sawdust, municipal solid waste (MSW), and a host of other materials. It can be used as a source for energy input for the provision of heat, electricity generation, and as a fuel in the transportation sector. According to current estimates, biomass nearly accounts for 12% of the global energy supply. Biomass is a carbon-neutral, environment-friendly and sustainable source of power generation with a significant potential to reduce dependence on fossil fuel for power generation.

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Increasing utilization of biomass including manure and plant materials to generate electricity and to produce biomass fuels for transportation can provide a low-carbon and sustainable alternative to fossil fuels. According to current estimates, woody biomass is the single largest feedstock for power generation through biomass and occupies the major market share globally in terms of utilization of feedstock by biomass power plants. Governments would play a major role in the growth of the woody biomass feedstock segment. Governments of various countries in Europe, North America, and East Asia are shifting their focus towards woody biomass to diversify economies away from fossil fuels, mitigate climate change, and increase the share of biomass power in the overall power generation mix. Agriculture and forest residues are the second most preferred biomass feedstock across the globe. The use of agriculture and forest residues to produce biomass power offers significant opportunity for local and regional economies along with the potential to tap resources around the country.

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In terms of both installed capacity and power generation, the direct combustion segment accounted for the major market share in 2013 and is expected to continue to dominate the market over the forecast period. However, this technology is relatively mature and is estimated to lose market share to emerging technologies. Co-firing & CHP is the simultaneous production of heat and electricity from a single source of energy. Co-firing is expected to emerge as one of the most feasible options to generate biomass power in the near future. It is increasingly used as a means to reduce greenhouse gas (GHG) emissions.

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Key participants in the global biomass power generation market include Alstom SA, Ameresco, Inc., DONG Energy A/S, Drax Group plc, Forth Energy Ltd., Helius Energy Plc, Enviva LP, MGT Power Ltd., The Babcock & Wilcox Company, and Vattenfall AB. The report provides an overview of these companies, followed by their financial overview, business strategies, and recent developments.

The global biomass power generation market has been segmented as follows:

Global Biomass Power Generation Market: Feedstock Segment Analysis

  • Woody Biomass
  • Agriculture & Forest Residues
  • Biogas & Energy Crops
  • Urban Residues
  • Landfill Gas Feedstock

Global Biomass Power Generation Market: Technology Segment Analysis

  • Anaerobic Digestion
  • Combustion
  • Gasification
  • Co-firing & CHP
  • Landfill Gas (LFG)

Global Biomass Power Generation Market: Regional Segment Analysis

North America

  • U.S.
  • Rest of North America

Europe

  • Sweden
  • Finland
  • U.K.
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • India
  • Japan
  • Rest of Asia Pacific

Middle East and Africa (MEA)

  • South Africa
  • Rest of MEA
  • Latin America
  • Brazil
  • Rest of Latin America

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Source:Transparency Market Research