Global biopower industry to double in 10 years
The global biopower sector is set to double in size over the next decade, a new report says.
Governments around the world are heavily investing into the industry for energy security purposes and although biopower only currently accounts for about 10% of all global primary energy, it is expected to increase at a yearly rate of more than 7% within the next decade.
The biopower energy generated should rise from around 64,581MW to 131,520MW by the end of 2020.
However, the report compiled by Companies and Markets, says the contribution of biomass to biopower is set to decline to 84.3% from 97% although biogas contribution is expected to grow to 15.7%.
Currently the US is the market leader in the global biomass industry, making up nearly 16.5% of all global installed capacity, followed by Germany and India.