July 27, 2010
Biomass, already a large percentage of total renewable energy sources, is poised for continued growth in the years to come within three key sectors: biopower, biofuels, and bioproducts. Significant investments continue to be made in biomass research and development, and the pace of commercializing new technologies will increase during the next decade. According to a new report from Pike Research, the market value of electricity generated from biomass in the United States will increase steadily to $53 billion by 2020, up from approximately $45 billion in 2010.
“Biomass will continue to be the leading source of renewable energy,” says managing director Clint Wheelock. “While it does not have the celebrity appeal of solar, wind or other emerging technologies, biomass is an affordable and reliable form of power generation. In addition, we expect continued growth in the adoption of biofuels during the next decade, as well as a proliferation of bioproducts such as plastics and chemicals.”
Wheelock adds that many different feedstocks can be classified as “biomass” including corn and grains, plants and forest resources, construction/industry waste, agricultural and food industry wastes, terrestrial and aquatic energy crops, municipal waste and manure. Applications for biomass range widely, from power generation to heating, transportation fuels, chemicals, and plastics. The development of the biomass industry is in large part driven by government policies and mandates and, while world governments are likely to back away from some of the aggressive targets set a few years ago, Pike Research anticipates that biomass will continue to be a significant focus for energy policymakers.
Pike Research’s study, “Biomass Markets and Technologies”, analyzes the global market opportunity for biomass with a focus on power generation, biofuels, and bioproducts including plastics and chemicals. It provides a comprehensive examination of demand drivers, technology issues, policy and regulatory factors, and the worldwide landscape of industry players. Detailed quantitative analysis includes market forecasts for key biomass categories through 2035. An Executive Summary of the report is available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Clean Transportation, Clean Industry, Corporate Sustainability, and Building Efficiency sectors. For more information, visit www.pikeresearch.com or call +1.303.997.4619.