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Because of a change in the trend to eliminate dependence on fossil fuels, the global demand for renewable energy is steadily increasing. The bioenergy industry is an important component of the total green energy market. The bioenergy demand has also been boosted by government funding, mostly in major developing countries. Among the technologies covered by the bioenergy industry are biomass power, electricity from waste combustion, bioenergy boilers, and energy from waste heat, among others. Biomass electricity is one of the fastest-growing segments in the overall market, with new biomass electricity projects being developed at various scales.
The global bioenergy industry is propelled by many key industry players, such as Mitsubishi Heavy Industries Ltd. (TYO: 7011) and MVV Energie AG (ETR: MVV). Privilege Finance announced EUR 90 million investment in June 2019 to support 14 MW of renewable energy projects in the UK, enough to fuel around 28,000 homes. Once completed and operational, these schemes are planned to turn 175,000 metric tonnes of food waste, as well as agricultural waste, into green gas for the National Grid. By 2020, bioenergy is projected to account for about half of the European Union's (EU) 20% renewable energy. Furthermore, the EU Green Energy Directive of 2009 set a goal for the UK to reach 15% of total gross final energy demand from renewable sources by 2020.
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Mitsubishi Heavy Industries Ltd, MVV Energie AG, A2A S.p.A., Hitachi Zosen Corporation, BTG Biomass Technology Group BV, and Babcock & Wilcox Enterprises, Inc., among others are the key players in the global bioenergy market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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