Top 6 Companies Leading the Global Bioenergy Market

The global bioenergy market reached 183.37 Gigawatt in 2024 and assessed to grow at a CAGR of 7.30% during the forecast period of 2025-2034 to attain 370.96 Gigawatt by 2034. As per the analysis of Expert Market Research, the market is further expected to be driven by growing concerns regarding climate change, growing demand from the end use industries, and extensive applications.

In the Asia Pacific region, the market is witnessing healthy growth due to increased demand for energy to meet the demands of the rising population. Customers in the Asia Pacific region have shifted to renewable energy to improve the security of the energy supply. The Middle East market is expected to follow the Asian counterparts, in terms of shifting to renewable energy. Germany and the United States are anticipated to lead Europe and North America, respectively, in the bioenergy industry. The threat of global warming and the critical need to reduce the carbon footprint has resulted in stricter energy laws, driving the shift to bioenergy as an alternative form of energy. Other factors such as modernisation in bioenergy conversion technology and increased investments in bioenergy is also expected to push the shift to the bioenergy market. The renewable green initiatives taken by the governments is also predicted to drive the bioenergy market in various sectors. As a result of these political, economic, and environmental factors, the market is expected to grow in the forecast period.

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Mitsubishi Heavy Industries Ltd (TYO: 7011) and Kanadevia Corporation (TYO: 7004) are key players in the bioenergy industry. In 2021, Mitsubishi Heavy Industries received orders for a 50 MW Woody Biomass-fired power generation facility and EPC work for Biomass facility in Hyuga, Miyazaki Prefecture. Babcock & Wilcox Enterprises had successfully turned over a biomass-to-energy plant in Margam, Wales, in 2019. The plant will generate 40 megawatts of electricity and features DynaGrate technology. These developments are expected to aid the global bioenergy industry further.

Leading Players in the Bioenergy Industry:

1. Mitsubishi Heavy Industries Ltd

Mitsubishi Heavy Industries is a Japanese corporation involved in energy, logistics & infrastructure, industrial machinery, aerospace, and defence industries. The company has over 79,974 employees as of 31 March 2021. The corporation had annual revenue of over 3,699.9 billion yen in 2020 and has forecasted the revenue for 2021 at 3,750.0 billion yen.

2. MVV Energie AG

MVV Energie AG is among the leading energy companies in Germany. The company is publicly listed and focuses on providing green energy for commercial and household consumption. The company has over 6,200 employees and had annual revenue of over 3.5 billion euros in 2020.

3. A2A S.p. A:

A2A S.p.A is an Italy-based company that focuses on the electric utility sector. The company operates on 5 segments: energy, heat and services, environment, networks, and the corporate segment. The company has over 12,189 employees as of June 2019, and had an annual revenue of 6.5 billion euros in 2018.

4. Kanadevia Corporation:

Kanadevia Corporation, formerly Hitachi Zosen Corporation is a major Japanese player in industrial services. The company operates in 3 key segments, which are environmental systems and industrial plants, machinery, and infrastructure. The company has 11,089 employees as of March 2021, and had annual revenue of 45,442,365,005 yen as of March 31, 2021.

5. BTG Biomass Technology Group BV

BTG Biomass Technology Group BV is a private, independent group of companies that specialises in the technologies for converting biomass and residues into bioenergy and fuels. The company is structured into 2 major groups, i.e., research and technology development and consultancy and project development.

6. Babcock & Wilcox Enterprises Inc

Babcock & Wilcox Enterprises is a leading innovator in energy, environmental technologies, and power and industrial markets. The three significant segments of the company are renewable, environmental, and thermal segments. The renewable segment provides innovations for sustainable power and energy generation, including bioenergy. Babcock & Wilcox Enterprises Inc has employed nearly 4,000 people across the globe. The annual revenue was USD 566.32 million in 2020.