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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