Bioenergy Market Size to Touch USD 642.71 Billion by 2027; Increasing Application of Biomass in Heat Generation in Urban Spaces to Feed Market Growth

The global bioenergy market size is projected to reach USD 642.71 billion by 2027 owing to speedy industrialization in emerging economies, states Fortune Business Insights™ in its report, titled “Bioenergy Market Size, Share & COVID-19 Impact Analysis, By Product Type (Solid Biomass, Liquid Biofuel, Biogas, and Others), By Feedstock (Agricultural Waste, Wood and Woody Biomass, Solid Waste and Others), By Application (Power Generation, Heat Generation, Transportation, and Others), and Regional Forecast, 2020-2027”. The report further states that the value of the global market stood at USD 344.90 billion in 2019 and is expected to register a CAGR of 8.0% from 2020 to 2027.

The COVID-19 pandemic has thrown up unprecedented challenges for the global economy and the energy sector is suffering from its negative impact. Travel restrictions, supply chain blockages, and nationwide lockdowns have caused energy demand to plummet worldwide, which is expected to affect this market growth throughout 2020.

Enexor BioEnergy Releases Innovative Solution for Organic Waste

In February 2020, US-based renewable energy innovator, Enexor BioEnergy, introduced its path-breaking Bio-CHP™ technology under its Bio-200™ system. The novel modular, scalable system is designed to convert any organic waste into affordable clean energy on-site. The small-scale product can be deployed in any setting, can withstand hurricane-level winds, and has the capacity to deliver renewable power tailored for micro-grids. Enexor plans on establishing the product presence in the US and then expand into Europe, Africa, Asia, and the Caribbean.  Enexor is one of the few companies that are making noticeable inroads into the renewable energy sector through launch of innovative solutions.

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Increasing Share of Bioenergy in Power Generation to Propel Market Growth

The bio-energy market growth is set to surge as the share of biofuels and biomass in energy generation is showing promising prospects. According to the International Energy Agency (IEA), electricity production from bioenergy sources rose by 5% in 2018 and will need to grow by 6% annually till 2030 to reach sustainable levels. Developing countries are aggressively deploying bio energy for electricity generation, the IEA observes. For example, the Brazilian government’s RenovaBio Plan, which is due for launch in 2020, aims at augmenting electricity generation from bagasse as well as boost production of biofuels for transportation. In India, dedicated efforts are being taken to expand production in bagasse co-generation plants by employing byproducts from the ethanol and sugar industries. Agricultural biomass-based electricity generation is also being increasingly favored in China. Efforts taken in emerging economies, therefore, can substantially aid the growth of this market.

Lucrative Opportunities in the Waste-to-Energy Domain to Energize Competition

Waste-to-energy is an attractive domain with wide business opportunities as solid waste accumulation is escalating around the world as a result of uncontrolled urbanization. Companies are converting this challenge into a growth opportunity and designing and developing innovative solutions. These innovations are aiding the players to entrench their position in the market, strengthen their offerings, and expand operations.

Industry Development:

• October 2019: Mazoon Dairy Company, the Oman Sultanate’s new dairy project, opened its maiden biogas plant to further its waste-to-energy strategy that aims at enhancing efficiency of its waste treatment facility. This project makes MCD the first dairy company in Oman to adopt clean energy technology at such a scale.

List of Companies Profiled in this Market Report:

• Drax Group (U.S.)


• Pacific BioEnergy Corp (Canada)


• EnviTec Biogas AG (Germany)


• MVV Energie AG (Germany)


• Ameresco, Inc. (U.S.)


• ADM (U.S.)


• Enexor Energy (U.S.)


• Lignetics (U.S.)


• Green Plains Inc. (U.S.)


• Enviva (U.S.)


• Enerkem (Canada)


• POET (U.S.)

Further Report Findings:

• Holding a market share of 56.0% in 2019, the solid biomass segment is anticipated to lead the market owing to governmental support to use solid biomass sources for renewable heat production.


• Growing investments in renewable energy sources by India and China is expected to enable Asia Pacific to dominate the bioenergy market share. In 2019, the region’s market size stood at USD 96.76 billion.


• In the Middle East & Africa, the market is expected to grow steadily owing to large unexplored biomass reserves in the region.

Table of Segmentation: