New York, United States, April 03, 2024 (GLOBE NEWSWIRE) — The Global Bioenergy Market Size is to Grow from USD 125.5 Billion in 2023 to USD 258.7 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.5% during the projected period.
Based on the type, the global bioenergy market is categorized into biomass & renewable municipal waste, biogas, and liquid biofuels. Among these, the biomass & renewable municipal waste segment is expected to hold the largest share of the global bioenergy market during the forecast period. In this context, biomass refers to waste that can be used to generate heat or power through combustion. In contrast, renewable municipal waste is organic garbage such as rotten vegetables, fruits, and other food items. Organic waste, a type of municipal solid waste (MSW), generates methane through processes like pyrolysis/gasification, incineration, anaerobic digestion, and landfilling. Waste-to-energy technology is becoming more prevalent, as is demand for biomass.Based on the technology, the global bioenergy market is categorized into gasification, fast pyrolysis, fermentation, and other technologies. Among these, the fermentation segment is expected to hold the largest share of the global bioenergy market during the forecast period. This is due to its mature and globally accepted technology. Fermentation yields more than 98% due to its widespread use in industry and processes that require low temperature and pressure, with alternative feedstock options such as Jatropha, animal fats, sludge, or waste cooking oil on the rise, combined with a commercial value of co-products and tax breaks on biodiesel; these technologies are gaining popularity in the early years of the forecast period.This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global bioenergy market based on the below-mentioned segments:  
(GlobeNewsWire)