Biomass CHP Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

The growth of the global biomass CHP market is driven by the increase in demand for energy generated by bio-based fuels from heat & power generation and transportation applications. In addition, implementing stringent government regulations toward environmental pollution from carbon-emitting fossil fuels in the transportation industry is expected to propel the market's growth. The factors include growth in the deployment of technologies needed for energy efficiency and the growing use of government incentives that can promote market growth in the future. Moreover, prominent companies that provide biomass CHP technology will drive market growth.

MARKET SCOPE

The "Global Biomass CHP Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the biomass CHP market with detailed market segmentation by fuel, technology, application, and geography. The global biomass CHP market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading biomass CHP market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global biomass CHP market is segmented by fuel, technology, and application.

  Based on fuel, the market is segmented into Biomass, Natural gas, Coal, Others

  On the basis of technology, the market is segmented into Steam Turbine, Combined Cycle, Gas Turbine, Others.

  On the basis of application, the market is segmented into Utilities, Commercial, Industrial, Residential, Others.

MARKET DYNAMICS

Drivers-

  The growing use of government incentives for promoting cogeneration and the need for energy efficiency will drive the market growth in the forecast period.

  Natural gas's easy availability makes installing biomass CHP cost-effective, further driving the market growth.
Restrains

  The rising demand for renewable power like solar and wind energy acts as a hindrance in the market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.

IMPACT OF COVID-19

The COVID-19 pandemic has greatly impacted the growth of the biomass CHP market in terms of delays in manufacturing and the supply of raw materials. COVID-19 has impacted almost all industries across the globe. The industrial operations and manufacturing units were shut down due to delays in the supply chains, and many companies' operations were affected due to the unavailability of a workforce. Apart from that, many vendors migrated to their hometowns owing to the uncertainties in their income during the lockdown, so the production and manufacturing activities came to a halt. Even during the forecast, the growth could be hampered due to the workforce shortage. Moreover, the Henan Yongcheng Biomass CHP Project is a 35MW biopower project located in Henan, China. The project is currently active, and it has been developed in a single phase. Post completion of construction, the project got commissioned in 2021. The combustion process has been adopted in this combined heat and power (CHP) project to release the stored energy from the feed. The agricultural by-product is used as a feedstock to power the project. Furthermore, JLEN Environmental Assets Group has owned a 100% equity stake in Cramlington Renewable Energy Developments (CRED), which purchased a biomass combined heat and power (CHP) plant in the UK. These are the key developments by major players that will help the market to recover from the covid-19 disruptions in the forecast period.

MARKET PLAYERS

The reports cover key developments in the biomass CHP market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from biomass CHP market are anticipated to lucrative growth opportunities in the future with the rising demand for biogas CHP in the global market. Below mentioned is the list of few companies engaged in the biomass CHP market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the biomass CHP market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.

•   TB Solutions OÜ
  
•   g2 Energy
  
•   MAN Diesel and Turbo SE
  
•   Caterpillar Inc
  
•   Mitsubishi heavy Industries ltd
  
•   General Electric
  
•   Cummins
  
•   Bosch Thermotechnology Ltd
  
•   ABB Limited
  
•   ENER-G Rudox
  
•   Veolia
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Biomass CHP Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Fuel Biomass Natural gas Coal By Technology Steam Turbine Combined Cycle Gas Turbine By Application Utilities Commercial Industrial Residential
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	TB Solutions OÜ g2 Energy MAN Diesel and Turbo SE Caterpillar Inc Mitsubishi heavy Industries ltd General Electric Cummins Bosch Thermotechnology Ltd ABB Limited