Global Bioenergy Market 2018-2022
Bioenergy refers to renewable energy derived from biomass and renewable resources. Some of the commonly used biomass resources are sourced from food and feed crops, energy crops, organic wastes, wood, bagasse, straw, forestry, and forest residues. Bioenergy is an essential part of the renewable energy industry.
Technavio’s analysts forecast the global bioenergy market to grow at a CAGR of 5.89% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global bioenergy market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bioenergy Market 2018-2022
Technavio recognizes the following companies as the key players in the global bioenergy market: Archer Daniels Midland, BP, Cargill, POET, Royal Dutch Shell, and Wilmar International.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing investments in the bioenergy sectors. Globally, the governments and private organizations are increasing their investments to product biofuels, through special grants and loans. For instance, DuPont started its cellulosic ethanol manufacturing facility at Nevada, Iowa, with a high biofuel manufacturing capacity.”
According to the report, one driver in the market is increasing concerns about environment and energy security. As fossil fuels are extremely limited and energy is derived from fossil fuels, several countries are seeking alternatives to conventional energy sources. Several countries depend on huge imports of crude oil that influences the growth of their economy.
Further, the report states that one challenge in the market is fall in crude oil prices. Cellulosic ethanol is a key substitute for diesel and gasoline. Volatility in global crude oil prices has caused a steep decline in oil trading prices. The west Texas intermediate and Brent crude oil prices dropped by nearly 50% from 2014 to 2015.
Archer Daniels Midland, BP, Cargill, POET, Royal Dutch Shell, and Wilmar International.