Biomass Briquette Market Size, Growth, Share and Industry Analysis Outlook Report [2023-2030]

Biomass Briquette Market Size, Share & Industry Analysis, By Raw Material (Wood, Agricultural Residue, Municipal Solid Waste (MSW), Others), By Application (Power Generation, Thermal Energy, Others) and Regional Forecast, 2023-2030

Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) — The rising demand for clean energy resources is expected to have a positive impact on the global market during the forecast period, states Fortune Business Insights, in a report, titled “Biomass Briquette Market Size, Share & Industry Analysis, By Raw Material (Wood, Agricultural Residue, Municipal Solid Waste (MSW), Others), By Application (Power Generation, Thermal Energy, Others) and Regional Forecast, 2023-2030” the rising global warming is expected to create lucrative opportunities for the market in the forthcoming years.

Key Industry Developments:

• December 2019: Mitsubishi introduced a biomass power generation project at Suzukawa Energy Center. The company is committed to sustainable energy development to reduce rising carbon emissions.
• November 2018: Toshiba’s subsidiary announced the investment of 20 billion yen in the new biomass power plant. Toshiba has plans on investing in emerging technologies.

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Market Driver:

Escalating Shift towards Sustainable Energy Source to Stimulate Growth

The growing environmental concerns have led to the shift towards sustainable energy goals, which, in turn, will enable speedy expansion of the market in the forthcoming years. The growing necessity for clean energy sources is expected to be a vital factor bolstering the growth of the market. The growing awareness regarding the environmental benefits of biomass briquettes is likely to create growth opportunities for the market. For instance, the burning of biomass briquettes does not emit harmful pollutants or does not pose a serious threat to the environment. Furthermore, biomass briquettes are majorly used in power generation, thermal energy, and others. The thermal energy is predicted to hold the lion’s share during the forecast period owing to its demand in cooking and heating especially in the rural areas. Additionally, the wood is expected to account for the largest share in the global market owing to its low cost and feasible operation.

However, the low energy output as compared to traditional energy resources and lack of awareness about the benefits of biomass briquettes are factors expected to dampen the growth of the market.

Covid-19 Impact:

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Report Coverage:

The report covers an overview of market analysis, major competitors, factors that would drive market growth and factors hindering market growth are also included in the report. Varied segments and its details are depicted in the report for better understanding of the attributes. Regional analysis is taken up in order to describe the dominant region in the global market. An in-depth research is done to gain insights of the market and its growth in upcoming time. Market dynamics like regional analysis, growth, and trends are discussed.

Biomass Briquette Market Segmentations:

The biomass briquette market can be effectively segmented based on various key factors, reflecting the diverse nature of this sustainable energy industry. One of the primary segmentation criteria is the type of raw material used in briquette production. Biomass briquettes are crafted from a range of materials, including wood, agricultural residues, and forestry residues. Each raw material type caters to specific applications and market niches, influencing the product’s composition and characteristics.

Regional Analysis:

Adoption of Clean Energy Sources to Accelerate Growth in North America

Geographically, the biomass briquette market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The market in North America is expected to witness a rapid growth rate owing to the growing demand and adoption of clean energy sources. As per the EIA report in 2019, the total production of densified biomass fuel reached 11.84 million tons per year and collectively employed around 2,400 employees. Europe is expected to grow tremendously during the forecast period owing to the EU2020 target and sustainable energy goals. The market in Asia Pacific is expected to account for a significant share owing to the growing population and limited availability of energy resources in India and China. The growing agriculture sector is expected to boost the market in the region. The growing rural population dependability on natural resources is expected to augur well for the market in India. The lack of sufficient energy resources is expected to create opportunities for the market in Africa.

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Competitive Landscape: Biomass Briquette Market

The market report provides a comprehensive overview of prominent players in the global Biomass Briquette Market, offering an in-depth understanding of the competitive landscape. It includes detailed company profiles, strategies, capabilities, historical analysis, cost assessment, and prevailing strategies. By examining the company’s total sales, pricing, and production over the forecast period, readers can gain insights into the market presence of these players. The competitive landscape of the market is further elucidated through an analysis of factors such as top manufacturers, pricing trends, and revenue generation.

List of Players Operating in the Biomass Briquette Market are as follows:

• Enviva
• Pacific BioEnergy
• Drax Biomass Inc.
• PFEIFER Group
• Biomass Secure Power Inc.
• Energex Pellet Fuel, Inc.
• Lignetics, Georgia Biomass, LLC
• African Briquet Factory
• Om Greentech Industries.

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Biomass Briquette Market Segmentation:

By Raw Material:

• Wood
• Agricultural Residue
• Municipal Solid Waste (MSW)
• Others

By Application:

• Power Generation
• Thermal Energy
• Others

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