Latest News:- Bioenergy Market: Transportation is expected to lead the Application segment during 2024-2028

Bioenergy Market to grow at a CAGR of 7.81% during 2024-2028

The Bioenergy Market is expected to grow at a CAGR of 7.81% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 88.4 billion. In the global energy landscape, the bioenergy market is experiencing significant growth due to increased investments from both public and private sectors. Governments are providing crucial support through incentives such as special loans and grants to foster the production of biofuels. According to the International Energy Agency (IEA), the renewable energy sector, which includes bioenergy, is projected to draw approximately 70% of global energy investment in 2021. This substantial financial commitment will undoubtedly contribute to market expansion. 

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The Transportation subsegment is expected to dominate the Application segment during the forecast period 

Technavio analysts predict that the Transportation subsegment will lead the Application segment during 2024 and 2028 The bioenergy market represents a significant business opportunity, driven by the global shift towards renewable energy sources and increasing concerns over carbon emissions. This sector encompasses the production of energy from organic materials, including biomass, biogas, and bioethanol. Companies in this space are investing in innovative technologies to improve efficiency and reduce costs, making bioenergy a lucrative and sustainable business proposition.

Here are the various ways based on which the market is segmented: 

• Application
  • Transportation
  • Off-grid electricity
  • Cooking
  • Others
• Product Type
  • Liquid biofuel
  • Solid biomass
  • Biogas
• Geography
  • Europe
  • North America
  • APAC
  • South America
  • Middle East and Africa

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish increasing concerns about environment and energy security

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Bioenergy market is a significant sector in the global energy industry, offering a sustainable alternative to traditional oil-based energy sources. With increasing concerns over energy security and the looming energy crisis, investments in bioenergy have gained momentum. Bioenergy is derived from various renewable sources, including straw, sugarcane waste, solid waste, agricultural waste, biomass, and bio organic waste. Bioenergy technologies encompass biogas production from landfills, DLE (Direct Liquefaction of Coal with Ethanol) for producing liquid biofuels, and green hydrogen production from biomass. Companies like Enterra are leading the way in biogas plant development, utilizing agricultural waste to generate electricity. Investments in bioenergy have reached a gigawatt-scale installed base, with continued growth expected. Key feedstocks include timber, compost, and biomass. Bioenergy not only offers energy security but also reduces greenhouse gas emissions, making it an essential component of a sustainable energy future. Bioenergy technologies offer various applications, such as electricity generation, heat production, and transportation fuels. The market's future looks promising, with continued advancements in biomass supply and biofuel production technologies. The potential for waste-to-energy projects and the integration of biogas and biomass with the electricity grid are exciting opportunities for investors and industry players.

Market Research Overview

The global renewable electricity market encompasses businesses involved in the production and distribution of electricity derived from renewable sources. This market span includes the consolidated revenue of independent power producers, gas and power marketing and trading experts, integrated energy merchants, and renewable electricity providers. Furthermore, manufacturers of solar power raw materials and equipment are also encompassed within this sector. The expansion of the global renewable electricity market will be fueled by supportive policies and ambitious targets for the deployment of renewable power, which have significantly driven the adoption of renewables over the past decade.

The Bioenergy Market is experiencing significant growth, fueled by the increasing concerns about environment and energy security. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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