LONDON--(BUSINESS WIRE)--The global bioenergy market is expected to grow at a CAGR of close to 6% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global bioenergy market by application, including transportation, off-grid electricity, and cooking. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Market driver: increasing concerns about the environment and energy security
Fossil fuels are limited, and energy production is primarily based on fossil fuels. Several countries import large quantities of crude oil, which influences the growth of their economy. One of the fastest growing alternatives to conventional energy sources is bioenergy. Bioenergy aids in expanding the energy mix and in reducing the dependency on global petroleum markets.
According to a senior analyst at Technavio for specialty chemicals research, “For countries that have less or no reserves, bioenergy reduces the dependency on imported crude oil. One of the key factors for the increasing demand for bioenergy is that it is derived from local feedstocks. To encourage the production of biomass feedstocks, cultivators and farmers are offered incentives by the governments. Agriculture-based economies generate huge amounts of agricultural waste.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: advances in enzyme technologies
In the manufacturing of bio-based fuels such as bioethanol from lignocellulose, hemicellulose, lignin, and various other biomasses, enzymes play an essential role. Advances in enzyme technologies allow the conversion of biomass into renewable biofuels. An extensive range of organic feedstock can be used for producing biofuels. Enzymes help in changing the chemical structure and properties of a variety of biomass and help in biofuel production. Each type of biomass contains a different concentration of the diverse compound. Enzyme technologies enable the commercial production of biofuels.
Market challenge: fall in crude oil prices
A key substitute for diesel and gasoline is cellulosic ethanol. The instability in the global crude oil prices has caused a sharp decline in oil trading prices. A systemic demand-supply imbalance in the global crude oil markets, which has diminished the popularity of bioethanol, biodiesel, and other alternative renewable fuels can be attributed to the significant decline in oil price. The low crude oil prices have expanded the price gap between conventional fuels and biofuels
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
|
Technavio’s best deals of the month!
|
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
