The increasing demand for coal alternatives and biofuels for cooking and other uses is likely to drive growth in the Global Biomass Briquettes Market during the forecast period of 2024–2028.
According to TechSci Research report, “Biomass Briquettes Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028F”, the Global Biomass Briquettes is anticipated to register a robust growth during the forecast period, 2024-2028. The increased usage of biomass briquettes as a cleaner fuel for power production, resulting in fewer GHG emissions, is driving the growth of the biomass briquettes market. Furthermore, government policy formulations favoring biomass as an alternative energy source will drive market expansion throughout the projected period. Biomass molding fuel is manufactured from agriculture and forestry leftovers such as rice stalk, straw, cotton stalk, bamboo sawdust, wood flour, ramie stalk, peanut husk, and so on. After going through many processing operations such as crushing, drying, mixing, molding, or compressing, etc., it is manufactured by pellet machines or briquetting machines. The ultimate products are pellets and briquettes, which are utilized to replace coal, gasoline, and other traditional fossil fuels. In comparison to fossil fuels, biomass molding fuel produces minimal net total greenhouse gas emissions since the materials utilized are already part of the carbon cycle. When compared to wood fuel, biomass briquettes are an unrivalled alternative energy source. Clean energy in the commercial and residential sectors is a tool for improving human health, reducing the effects of climate change, and saving hundreds of millions of people, particularly women and children, from toiling during daily fuel collection. As a result, governments throughout the world have developed several regulatory initiatives to encourage the use of biomass as an alternative energy source, pushing the growth of biomass briquettes over the forecast period.
The thermal energy, power generation, and other world market segments for biomass briquettes. Regarding segmentation, the power-generating category is anticipated to expand significantly throughout the projection period. When generating electricity, biomass briquettes provide a greener option to coal and other fossil fuels. Biomass briquettes don’t require distinct power-generation equipment to broaden their acceptance smoothly because biomass sources are widely accessible. This has prompted several power firms to experiment with biomass briquettes worldwide. The biomass briquettes’ many benefits include economic effectiveness, a low ash content compared to coal and charcoal, and a lack of Sulphur. Additionally, it offers consistent burning, has no impact on the environment, and has a high density, which boosts its demand globally, fueling the biomass briquette market expansion. However, the main constraint impeding the growth of the biomass briquette industry is poor energy yield, in comparison to alternative fuels. The market for biomass briquettes is anticipated to increase as a result of enhanced renewable energy sources and growing fuel consumption throughout the world.
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Global Biomass Briquettes Market is segmented By Type, and By Application. Based on Type, the market is segmented into Sawdust Briquettes, Agro Waste Briquettes, and Wood Briquettes. Based on Application, the market is segmented into Power Generation, Thermal Energy and Others
In terms of segmentation, it is predicted that the power-generation category would grow considerably over the course of the projection period. Biomass briquettes offer a cleaner alternative to coal and other fossil fuels for the generation of power. Because biomass sources are easily accessible, biomass briquettes don’t need special power-generation equipment to grow in popularity. This has motivated other power companies to test biomass briquettes globally.
Key market players in the Biomass Briquettes market:
- Pacific BioEnergy
- German Pellets
- RWE Innogy
- Pfeifer Group
- Drax Biomass
- General Biofuels
- Biomass Secure Power
- Intelliflux Controls
- Energex Power Private Limited
- Enviva Inc.
- SUEZ Energy
“High density biomass renewable fuels known as briquettes are produced using biomass briquetting equipment. They completely burn because of their high calorific value and low moisture content. The growing demand for renewable energy increase since non-renewable fossil resources are running out quickly thus alternative sources have a good scope in the future. Compared to other energy sources, they are less expensive. Due to simple access to raw materials and a sizable ready market, briquettes have the most promising future.
The market for bio-mass briquettes is rising because of increased worldwide awareness. To recycle the trash produced by their businesses back into those industries, more and more sectors are establishing their own briquetting plants. This is a critical business opportunity, which in turn supports the growth of the global market for Biomass Briquettes market.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Biomass Briquettes Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Sawdust Briquettes, Agro waste Briquettes, Wood Briquettes), By Application (Power Generation, Thermal Energy and Others), By Region, Competition” has evaluated the future growth potential of Biomass Briquettes and provides statistics & information on market size, structure, and future market growth. The research aims to provide decision-makers with the up-to-date market knowledge and support wise investment strategies. In addition, the study identifies and examines the key drivers, obstacles, and opportunities in the market for Biomass Briquettes.
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