Renewable energy also know as the Green Energy is acquired from non-perishable resources like heat, electricity etc. Wind energy and Solar energy are most dominant forms of renewable energy available today. Asia-Pacific market is likely to remain the most attractive for renewable energy. Just as significantly, developing world investments in renewables (up 19% in 2015) topped those of developed nations for the first time in 2015 (down 8%). Much of these record-breaking developing world investments took place in China (up 17% to $102.9 billion). Other developing countries showing increased investment included India, South Africa, Mexico and Chile.
Overall, renewables excluding large hydro made up 53.6% of the gigawatt capacity of all technologies installed in 2015, the first time it has represented a majority. The global market for renewable chemicals is projected to reach to reach $74.3 billion by 2020, driven by the rising focus on reducing carbon emissions, and increasing demand for healthier, greener, and cleaner products. One of the fastest-growing materials sector in the past decade has been the production of plastics from renewable resources, or bioplastics. Currently in terms of technology maturity, wind energy is by far the most mature form of renewable energy generation available in the market currently. This is closely followed by solar, which is currently witnessing a growth spurt in terms of annual installations globally.
Methods of generation such as biomass have been in existence since long back, and finds significant use in certain regions of the world. Geothermal energy is a form of renewable energy generation which is capable of supplying base load requirements: a quality which is mostly available from fossil fuel burning power stations. This report is best suited for Residential, Commercial and Industrial End-users - Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 – 2020.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include:
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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Global consumption for biofuel is projected to reach US$58.3 billion gallons by 2020. The United States represents the largest market worldwide, with a 45.7% share of global consumption in 2015. Biofuels is a class of fuels whose energy is derived biologically from carbon fixation. They are derived from various conversion procedures from solid biomass, liquid fuels and various gases. Liquid produced from various oil-rich crops and are grown in many regions across the globe. Europe and Brazil are the major consumers of biofuels for electricity and transportation, while Asia Pacific is another growing region after Europe and North America. Countries such as China and India are prime consumers of bioenergy products such as biogas and bioethanol.
Second generation biofuels yield more energy efficient output than conventional fossil fuels and are environment-friendly as well. Developing economies like China, India, and Russia are also experiencing steady growth and it is expected to increase substantially for the next six years. Liquid not only used in transport, but are also used in commercial heating processes.
Some of the key manufacturing companies profiled in the report are Algenol Biofuels, Abengoa bioenergy, POET-DSM, GranBio, INEOS Bio, Inbicon, Clariant, ZeaChem, DuPont Industrial Biosciences and Fiberight LLC. Biofuels are projected to be another growing segment within the renewable energy market after wind energy segment, and it offers numerous opportunities for both new start-up companies and traditional companies, from the point of view to transfer their capabilities into this new growth market.It is also a broad and varied sector, covering a range of technologies at different stages of development.
Climate change mitigation and adaptation, energy security, and waste treatment are some of the primary growth drivers for the global biofuel market. Another factor adding to the changing perspective toward the market is its potential to bring about rural development and provide new opportunities for employment in the agriculture sector.
Key Question answered in the report:
- What was the market size from 2013 to 2015?
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- How will the market drivers, restraints and future opportunities affect the market dynamics and a subsequent analysis of the associated trends?
- What segment and region will drive or lead market growth and why?
- A comprehensive mapping of the competitive landscape and the market participants behavior.
- What are the key sustainability strategies adopted by market players? An in-depth analysis of these strategies and their impact on competition and growth.. See Live