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Asia Pacific Biomass Energy Market to Grow at a CAGR of 9% During 2021-2026, Aided by the Favorable Government Policies

According to a new report by EMR titled, ‘Asia Pacific Biomass Energy Market Report and Forecast 2021-2026’, the market reached 49 GW in 2020. It is further expected to witness a healthy growth in the forecast period, growing at a CAGR of 9% between 2021 and 2026.

Northeast Asia is quickly emerging as a new engine of growth for the biomass and bioenergy industries. In countries like Japan, South Korea, and China, policy drivers are expected to provide new opportunities to the market, and this will lead to a rapid expansion in biomass-fired power and CHP generation over the next decade. This is expected to create a large new market – rivalling that of Europe – for global biomass suppliers. In addition, new developments aimed toward using more biomass for fuel are set to spice up the regional market growth. Biomass is a sustainable and low-carbon alternative to standard fossil fuels while allowing local groups to use domestically available biomass sources. It facilitates efficient utilisation of crop residues, the unused portions of urban waste, and wood manufacturing wastes.

The 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.

The growing focus of the global players on expanding their presence across the key developing markets is expected to significantly boost the industry growth over the forecast period. Some of the global leading renewable energy companies like Renewable Energy Group Inc. (NASDAQ: REGI) offers services for managing the construction of biomass-based diesel production facilities and the ongoing operations of third-party plants. Such developments are expected to have a positive influence on the market growth over the forecast period.

Market Breakup by Source, Segment, Type, Application, and Region:

  • The market is divided based on source into wood, agricultural crops and residues, animal residues, and municipal solid waste and sewage, among others. 
  • By segment, the market is bifurcated into renewable and non-renewable.
  • Based on type, the industry is divided into solid biomass, liquid biomass, and biogas, among others. Out of these, the solid biomass segment is subdivided into electricity and others, while the liquid biomass segment is subdivided into ethanol and biodiesel, among others.
  • By application, the market is segmented into commercial and industrial, among others.
  • While the regional markets for the product include China, Japan, India, Australia, and South Korea, among others.

Key Findings of the Report:

  • The biomass energy industry in the Asia Pacific is being driven by the favourable government policies in South Asian countries.
  • The transportation industry has significantly contributed to the market expansion.   
  • The growing rate of biomass energy consumption for generating electricity is also responsible for the industry growth.   
  • The rising demand for renewable energy all over the world has impacted the market positively.

Key Offerings of the Report:

  • The EMR report gives an overview of the Asia Pacific market for biomass energy for the periods (2016-2020) and (2021-2026).   
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for sources, segments, types, applications, and major regions of biomass energy.  
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Asia Pacific biomass energy 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 comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, technological advancements, and capacity expansions of the major players.   

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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