Market Scope
The global market for Bioliquid Heat & Power Generation can be expected to attain a growth rate of 7.60% during the forecast period (2018-2023), says Market Research Future (MRFR).
Market Drivers and Main Challenges
The market for bioliquid heath and power generation is growing on the back of the expanding worldwide population along with economic advancement. Soaring energy demand among commercial, public and residential services as well as the transport sector also favors the market. The IEA (International Energy Agency) reveals that the worldwide energy demand rose by 4% in the year 2018. That same year, the total electricity production generated through coal and natural gas all over the world was estimated, wherein the coal contribution came to 25.6% and natural gas accounted for 27.9% in the overall production.
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The world over, there has been a surge in the demand for sustainable, clean and eco-friendly energy generation, given the rising concerns due to increasing CO2 emissions stemming from energy generation. Owing to these concerns, a number of government bodies around the world are implementing rigid policies and regulations with the aim to bring down carbon emissions and their harmful effect on the environment. These noteworthy factors can contribute immensely to the growth of the Bioliquid Heat and Power Generation market in the years to come.
Mounting awareness about climate change as well as environment degradation has prompted several manufacturers to come up with sustainable energy strategies. They are making massive investments in environment friendly technologies for power generation, which can elevate the market position during the review period.
Global Bioliquid Heat & Power Generation Market Segmentation
The global market for Bioliquid heat & power generation has been extensively studied, considering the segments like type and application region.
Given the type segment, the market covers bioethanol and biodiesel. Bioethanol is the leading segment in the global market, since it offers various benefits compared to biodiesel. For example, bioethanol consists of 35% oxygen and when oxygen is added to fuel, it leads to complete fuel combustion, which helps reduce toxic tailpipe emissions. Additionally, ethanol can be used instead of harmful gasoline component including benzene. In the United States (US), almost all the gasoline that is sold comprises 10% ethanol, with respect to volume. Taking into account all the technical features of bioethanol, it is lower-priced compared to biodiesel and offers close to 93% more energy per gallon, which elevates its demand in the market.
Application-wise, the market includes heat generation and power generation.
Regional Analysis
Asia Pacific (APAC), North America along Europe and the rest of the world (RoW) are the main markets for Bioliquid Heat & Power Generation highlighted in the MRFR report.
Europe was the leading market for Bioliquid Heat & Power Generation in the year 2017. The massive demand for bioliquids in the region is the result of the rising focus on the renewable energy sector, where bioliquid plays an important role. The Europe market for bioliquid heat and power generation is expected to maintain its position throughout the forecast period. The region has amplified its focus on the renewable energy sector, with the top countries identified as Germany, France and the UK. The rigid regulatory framework with regard to bioliquids in Europe also induces market growth to a great extent.
The developing countries in APAC such as India and China offer a host of growth opportunities to the bioliquid heat and power generation market, owing to substantial government initiatives promoting the use of biofuels for renewable energy generation.
The bioliquid heat and generation market in North America is driven by the high availability of feedstocks and the rising need to reduce carbon emissions. Availability of advanced technologies that help convert feedstocks to liquid biofuels can also stimulate the growth of the bioliquid heat and power generation market in the region in the coming years.
Significant Market Players
Some of the most significant players in the worldwide market for Bioliquid Heat & Power Generation include Archer Daniels Midland Company, and Cargill Inc., Encontech, Betarenewables, Bunge, Biox, MBP Group, REG Power Management, REG, Kraton, BTG, Olleco, Argent Energy, Munzer Bioindustrie, Ensyn Fuels, Neste, to mention a few.
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