Over the years to come, biomass will grow within the biopower, biofuels, and bioproduct sectors. The market value of electricity generated from biomass in the United States was over $45 billion in 2011. About 70% of all biomass in the world is used in the residential sector, while 14% is used in industry and 11% is transformed into electricity, heat, or another energy carrier such as liquid fuel or biogas.
Under the present market conditions, the majority of available renewable power resources including biomass power are yet to become cost competitive compared to non-renewable resources including coal and natural gas. Going forward, benefits from national level programs, energy efficiency incentives, and financial incentives targeting the expansion of the renewables market will create demand for additional biomass power capacity globally between 2012 and 2035.
New market report “Global Biomass Industry” developed by Taiyou Research covers an in-depth analytical discussion of the total world biomass industry, offers an insight into the market processes, industry performance, and competitive landscape. Future potential developments, industry prospects and opportunities, drivers and challenges are reviewed at full spectrum.
Source: Business Wire