Market Size of Europe Bioenergy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Bioenergy Market Analysis
The Europe bioenergy market is expected to grow at a CAGR of more than 8% from during 2022-2027. Energy generated using bio-based renewable sources such as biofuel, biogas, biomass, and other bio-organic waste is known as bioenergy. Lockdowns imposed across the globe in 2020 and the first quarter of 2021 due to the outbreak of the COVID-19 pandemic resulted in a temporary ban on imports & export, primarily as most of the European countries depend on raw products from outside European Union hampered the market growth. On the other hand. manufacturing & processing activities across various industries, which decreased demand for bioenergy and related products have been recovering since the second quarter of 2021. The growth in the bioenergy market can be attributed to the increasing shift towards renewables and other non-fossil fuel-based energy sources, such as solid biomass, biogas, and others. Factors such as increasing demand for energy, advancements in bioenergy conversion technologies, increasing investment in bioenergy, and declining electricity generation costs from bioenergy facilities are expected to drive the market during the forecast period.
- Biodiesel is likely to experience significant growth in the biofuel market due to its extensive use in automotive vehicles without significant overhauls in the internal combustion engine.
- As of 2021, research is underway to develop additional feedstocks that could be used to make biofuels, along with production processes that are safe for the environment and take less toll on it, which is likely to present many opportunities in the future.
- Germany is likely to witness significant growth in the market during the forecast period owing to its increasing expenditure in the sector and favourable governmental policies.
