Market Size of Bioliquid Heat and Power Generation Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.10 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bioliquid Heat & Power Generation Market Analysis
The bioliquid heat and power generation market is expected to grow with a CAGR of around 7.1% during the forecast period. The COVID-19 pandemic outbreak had a significant impact on the market which got reflected in delays in project executions or suspensions. For example, the construction of the Tees Renewable Energy Plant, a 299 megawatt (MW) bio-gas power plant in the United Kingdom got suspended due to the pandemic. The global bioliquid heat and power generation (cogeneration) market is largely driven by the features like cost-effective and efficient methods of power generation, and low carbon power generation technology. However, the market growth is hindered by high initial costs and competition from alternative technologies.
- The bioethanol segment is expected to grow at the fastest rate during the forecast period due to the high availability of fuel in many countries.
- The government policies to promote renewables-based power generation technologies in almost all the countries create ample opportunities for the market growth. Furthermore, biomass meets about 10% of the total global energy demand thus making it the most potential candidate amongst the renewables.
- Europe is likely to dominate the market during the forecast period due to increasing share of bioenergy in the energy generation mix.
