The
bioenergy market is poised to grow by USD 68.86 billion
during 2020-2024, progressing at a CAGR of over 7% during the forecast period.
The
market is driven by the rising need for renewable clean fuel. In addition, the
advances in enzyme technologies are anticipated to boost the growth of the
bioenergy market.
The
global energy insecurity, volatile fuel prices, and the rising emission levels
have led to increased focus on alternative fuels. Moreover, the steady
depletion of fossil fuel reserves has increased the use of renewable biofuels.
Biofuel blends are used in regular vehicles with little or no modification
required in the engines. Biofuels emit fewer greenhouse gas (GHG) emissions in
comparison to conventional fuels. Bioethanol and biodiesel reduce the amount of
sulfur and hydrocarbon emissions in the air. Such benefits of biofuels and
increased demand for renewable clean fuel is expected to drive the growth of
the market.
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Major
Five Bioenergy Companies:
A2A
Spa
A2A
Spa has business operations under various segments, including generation and
trading, waste, networks and district heating, international, and A2A smart
city and corporate. The company offers bioenergy solutions through its
generation and trading segment.
Archer
Daniels Midland Co.
Archer
Daniels Midland Co. operates its business through origination, oilseeds,
carbohydrate solutions, nutrition, and others. The company offers bio energy
solutions through the others segment which focuses on industrial users.
Babcock
& Wilcox Enterprises Inc.
Babcock
& Wilcox Enterprises Inc. has business operations under three segments,
namely Babcock & Wilcox, Vølund & Other Renewable, and SPIG. The
company offers bioenergy related products through its renewable segment which
includes biomass power generation applications.
BP
Plc
BP
Plc operates its business through four segments: downstream, upstream, Rosneft,
and other businesses and corporate. The company offers bioenergy solution
through its others segment which focuses on several activities including
biofuels and wind businesses.
Hitachi
Zosen Corp.
Hitachi
Zosen Corp. has business operations under three segments: environmental systems
& industrial plants, machinery, and infrastructure. The company offers
renewable energy solution through its environmental systems and industrial
plants segment.
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