The new report by Expert Market Research titled, 'Asia Pacific Biomass Energy Market Report and Forecast 2021-2026', gives an in-depth analysis of the Asia Pacific biomass energy market, assessing the market based on its segments like sources, segments, types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): 49 GW
- Forecast CAGR (2021-2026): 9%
Due to its increasing demand in the transportation and construction industries, the Asia Pacific biomass energy industry is experiencing increased growth. Bioenergy is used in the construction and car industry as fuel. The commodity is expected to gain increased demand as developers and automotive makers begin to increase the focus on energy efficiency while building cars.
The growing production prices, increasing demand for energy-efficient fuels, and increasing demand from the metal and mining industry are some of the main reasons that are due to the growth of the biomass energy business. In addition, government organisations are focusing on utilising biomass for electricity production as a neighbourhood of energy security and energy efficiency strategy. Such initiatives aim to reinforce the share of unpolluted renewables within the overall energy mixture of national economies.
Industry Definition and Major Segments
Biomass can be converted into biofuels that are lightweight feedstock and are used in bio-energy generation. Biofuels are classified as feedstock, directly or indirectly derived from biomass, intended for the production of bio-energy.
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Based on source, the market is divided into:
- Agricultural Crops and Residues
- Animal Residues
- Municipal Solid Waste and Sewage
By segment, the market is divided into:
Based on type, the market is divided into:
- Solid Biomass
- Liquid Biomass
Among these, while the solid biomass segment is subdivided into electricity and others, the liquid biomass segment is divided into ethanol, and biodiesel, among others, based on type.
On the basis of application, the market is segmented into:
Regionally, the industry can be segmented into:
- South Korea
In countries such as India and China, the increased penetration of biogas is contributing to an increased demand for biomass energy in the Asia Pacific region. The use of biofuel has increased with rapid technical development, which is anticipated to help the growth of the industry. Moreover, with rapid growth of industries such as transport and mining, the region is expected to witness an increased demand for solid and liquid biomass. Also, the demand for renewable energy has been growing significantly in the region in comparison to non-renewable, further increasing the product demand and boosting the sales line. The increased efficiency offered by these value-added products for vehicles is expected to further improve their sales. With the estimated increase in biofuel consumption in construction, automotive, and mining applications during the forecast period, the biomass energy industry is anticipated to record a significant growth in the Asia Pacific region in the coming years.
Key Market Players
The major players in the market are Acciona Group., Mitsui E&S Engineering Co., Ltd, Hitachi Zosen Corporation, Anaergia Inc., DP CleanTech, and Jyoti Bio Energy Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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