Biomass Power in the US - Industry Market Research Report

Biomass Power in the US - Industry Market Research Report

  • December 2020 •
  • 49 pages •
  • Report ID: 5103584 •
  • Format: PDF
Charged up: Continued economic growth will likely fuel manufacturing activity, boosting industry demand

Abstract

Biomass Power
The Biomass Power industry has grown slowly over the five years to 2019. The industry’s expansion has been propelled in part by several federal renewable energy tax credits that encouraged the use of biomass power. Furthermore, the majority of states have enacted renewable portfolio standards (RPSs), which require local utilities to generate electricity from renewable power as a percentage of their total energy portfolio. Increased campaigning for green technology also influenced industry performance by sparking interest in technologies that replace pollutant-generating energy sources, such as coal and gas. The continued existence of RPSs, as well as new biomass energy technology, is expected to continue facilitating competition among industry players and other energy-generation technologies over the next five years. Additionally, continued economic growth will fuel increased activity in the manufacturing and industrial production sectors, increasing the level of electricity consumption. As electricity consumption increases, downstream demand for biomass energy is expected to increase in turn.

Enterprises in this industry operate electricity-generating facilities using biomass (e.g., agricultural byproducts, landfill gas and biogenic municipal waste). Establishments primarily engaged in operating trash disposal incinerators that also generate electricity are classified in the Waste Treatment and Disposal Services industry (IBISWorld 56221).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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