Bioenergy Market (By Product Type: Solid Biomass, Liquid Biofuel, Biogas, Others; By Feedstock: Agricultural waste, Wood and Woody Biomass, Solid Waste, Others: By Application: Power generation, Heat Generation, Transportation, Others; By Technology: Gasification, Fast Pyrolysis, Fermentation, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024 – 2033


Bioenergy Market Size and Growth 2024 to 2033

The global bioenergy market size was estimated at USD 134.63 billion in 2023 and is expected to surpass around USD 282.67 billion by 2033, growing at a CAGR of 7.7% during the forecast period 2024 to 2033.

Bioenergy Market Size 2024 to 2033

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Bioenergy Market Key Takeaways

  • North America led the global market with the highest market share of 45.14% in 2023.
  • By product type, the solid biomass segment has held the largest market share in 2023.
  • By feedstock, the wood and woody biomass segment captured the biggest revenue share in 2023.

U.S. Bioenergy Market Size and Growth 2024 to 2033

The U.S. bioenergy market size was estimated at USD 42.62 billion in 2023 and is predicted to be worth around USD 93.98 billion by 2033, at a CAGR of 8.2% from 2024 to 2033.

U.S. Bioenergy Market Size 2024 to 2033

North America dominated the bioenergy market in 2023. The U.S. dominated the bioenergy market in North America region. The factors such as rising investments in infrastructural development and energy projects, expansion of the energy industry, and growing initiatives by key market players towards the growth of the bioenergy market are supporting for the expansion of the bioenergy market in North America region.

Asia-Pacific, on the other hand, is expected to develop at the fastest rate during the forecast period. Many of the countries and states of Asia-Pacific region do not have proper sources for the generation of electricity. The demand for electricity in such regions is driving the demand for bioenergy in the Asia-Pacific region. In addition, increase in investments in research and development by government is also contributing towards the growth and development of the bioenergy market.

Bioenergy Market Share, By Region, 2023 (%)

Europe Bioenergy Market Size and Growth 2024 to 2033

The Europe bioenergy market size was calculated at USD 32.86 billion in 2023 and is projected to expand around USD 73.49 billion by 2033, poised to grow at a CAGR of 8.4% from 2024 to 2033.

Year Market Size (USD Billion)
2023 32.86
2024 35.62
2025 38.62
2026 41.85
2027 45.37
2028 49.17
2029 53.29
2030 57.75
2031 62.59
2032 67.82
2033 73.49

 

Bioenergy Market Growth Factors

The bioenergy is generated by using different sources such as biomass, biofuel, organic waste, and biogas. These wastes are easily available in the market. Thus, these biowastes are utilized largely for the generation of bioenergy. As a result, the surge in demand for clean and green energy is driving the growth of the global bioenergy market over the projected period.

The factor such as implementation of favorable and stringent government regulations and guideline is contributing towards the expansion and development of the global bioenergy market. Moreover, the growing demand for renewable sources of energy is creating demand for bioenergy in the market globally. In addition, it has been noticed that the usage of bioenergy helps in the cost reduction and expenses for electricity generation. This factor is driving the growth of the global bioenergy market.

One of the primary factors driving the growth of the global bioenergy market is rising environmental and energy security issues. To save the environment with the adverse effects of global warming, the government agencies are constantly striving for the surge in the usage of the bioenergy all over the globe. Several nations are looking for alternatives to traditional energy sources because fossil fuels are limited and energy is obtained by them. Thus, bioenergy is widely used in every vertical of industries.

Bioenergy is quickly becoming one of the most popular alternatives to traditional energy sources, helping to diversify the fuel and energy mix and reduce reliance on global petroleum industries and sectors. This type of fuel is very expensive as compared to biofuels or bioenergy. That’s the reason, the government and private organizations have started utilizing bioenergy on a large scale.

Bioenergy Market Scope

Report Coverage Details
Bioenergy Market Size in 2023 USD 134.63 Billion
Bioenergy Market Size by 2033 USD 282.67 Billion
Bioenergy Market Growth Rate from 2024 to 2033 CAGR of 7.7%
Largest Market North America
Fastest Growing Region Asia Pacific
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Feedstock, By Product, By Application, and By Technology
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Furthermore, bioenergy reduces a country’s reliance on trade of crude oil, which advantages countries with less or no reserves. As bioenergy and biofuel is sourced from local feedstock, government of developed and developing countries are incentivizing landowners and producers to produce biomass feedstock, which increase the rate of bioenergy production on a large scale at a rapid pace. As a result, all these factors are boosting the growth of the global bioenergy market during the forecast period.

The major factors and key market trends for bioenergy such as increased investment in bioenergy sectors is driving the growth and development of the global bioenergy market. The government agencies and private companies are collaborating with each other for the growth of the bioenergy market.

Furthermore, corporate organizations and government of developed and developed regions around the world are boosting their involvement in biofuel production through specific loans and subsidies. This has prompted suppliers to build plants with significant biofuel production capacity. While the bioenergy market is still in its infancy, these patterns of large-scale investment will attract more organizations and aid in the growth of the global bioenergy market over the forecast period.

The major market players are trying to acquire largest market share in the bioenergy market. For this, they are collaborating and partnering with government agencies for the bioenergy generation. Some of the key market players are collaborating or signing deals with International Energy Agency (IEA). This helps them to capture huge market share all around the globe. In addition, the technological developments and innovative technologies are helping market players for the generation of bioenergy effectively and efficiently without putting extra efforts. Thus, this is leading to market expansion. 

Product Type Insights

The solid biomass segment dominated the bioenergy market in 2023. The solid biomass is largely used in Asia-Pacific and LAMEA regions. This type of bioenergy is utilized for multipurpose such as heating water and cooking. In addition, the government is providing incentives for the use of renewable energy sources, which is driving the segment growth. 

The biogas segment is fastest growing segment of the bioenergy market in 2023. The government of developed and developing regions is providing tax rebates and subsidies for the installation of biogas plants. This factor is boosting the growth of the biogas segment.

Feedstock Insights

In 2023, the wood and woody biomass segment dominated the bioenergy market. The large amount of wood is available all around the world. The factors such as easy and wide availability of trees, increased rate of production of electricity, and rising government initiatives for the growth of the bioenergy market are propelling the growth of the segment.

The agricultural waste segment, on the other hand, is predicted to develop at the quickest rate in the future years. The waste that is generated due to agricultural activities is known as agricultural waste. It has been observed that every year around 14% of the agricultural waste is being utilized in the production of bioenergy. 

Application Insights

The heat generation segment dominated the bioenergy market in 2023. More than 50% of the bioenergy is utilized for the generation of heat. The underdeveloped and developing regions are mainly using bioenergy for this purpose only, which is propelling the growth of the global bioenergy market.

The transportation segment is fastest growing segment of the bioenergy market in 2020. The bioenergy is applicable for the transportation purpose. This is attributed to the increase in the demand and need for electricity as well as urbanization and industrialization. 

Bioenergy Market Recent Developments

  • EnviTec Biogas AG began operations for its biogas facility in China in 2021. Maize stover silage, dairy cattle dung, and turkey litter would be used as inputs for the 1,570 Nm3 biogas facility in Shanxi province.
  • In July 2021, Liquind 24/7 GmbH and EnviTec Biogas AG agreed to deliver and market bio-LNG produced by EnviTec Biogas AG in Gustrow in heavy duty clients at Liquind 24/7 GmbH’s truck fueling facilities in Europe.

Bioenergy Market Companies

  • Ameresco Inc.
  • MVV Energie AG
  • Enexor Energy
  • Drax Group
  • EnviTec Biogas AG
  • Pacific BioEnergy Corp.
  • Lignetics
  • Enerkem
  • Green Plains Inc.
  • Enviva

Segments Covered in the Report

By Product Type

  • Solid Biomass
  • Liquid Biofuel
  • Biogas
  • Others

By Feedstock

  • Agricultural waste
  • Wood and Woody Biomass
  • Solid Waste
  • Others

By Application

  • Power generation
  • Heat generation
  • Transportation
  • Others

By Technology

  • Gasification
  • Fast Pyrolysis
  • Fermentation
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of bioenergy market?
The global bioenergy market size was reached at USD 134.63 billion in 2023 and is anticipated to rake around USD 282.67 billion by 2033.
What will be the CAGR of global bioenergy market?
The global bioenergy market to drive growth at a CAGR of 7.7% during the forecast period 2024 to 2033.
Who are the major players operating in the bioenergy market?
The major players operating in the bioenergy market are Ameresco Inc., MVV Energie AG, Enexor Energy, Drax Group, EnviTec Biogas AG, Pacific BioEnergy Corp., Lignetics, Enerkem, Green Plains Inc., and Enviva.
Which are the driving factors of the bioenergy market?
The growth and development of the global bioenergy market is being driven by significant causes and important industry trends such as rising investment in bioenergy sectors. For the growth of the bioenergy sector, government organizations and private firms are working together.
Which region will lead the global bioenergy market?
North America dominated the bioenergy market in 2023 and will lead the market in near future.

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