According to the report “Biomass Power Generation Market – Global & U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2022”, realized by Transparency Market Research, the global biomass power generation market is growing: it will expand at a 6.4% CAGR in terms of value between 2014 and 2022, rising from a valuation of US$28.68 bn to US$50.52 bn by 2022. In terms of power generation, the market is expected to rise to 738,350.3 million KWh in 2022 from 72,571.9 MW in 2013, exhibiting a 6.8% CAGR over the period. In terms of installed capacity, the market is expected to exhibit a 6.2% CAGR and rise to 122,331.6 MW by 2022 from 72,571.9 MW in 2013. As an environment-friendly, carbon-neutral, and sustainable source of energy, the global biomass power generation market possesses vast potential in reducing the global reliance on fossil fuels.
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