Increasing Pressure to Curb Carbon Footprint Propels Bioenergy Growth

The increasing pressure on the world leaders to decrease carbon footprint and rising level of greenhouse gas is also forcing the government is forcing the countries across the globe, particularly in the emerging countries to look out for alternative of bioenergy seriously. The growing social pressure and international majors, the global bioenergy sector is likely to flourish in the coming years. The growing demand of energy across the globe to keep up the manufacturing spurt and the growing urbanization has created huge loss and this compelling several countries to find alternative energy solution. This is one of the key trends fueling growth of this market in the upcoming years.

The alarming crisis of energy safety measures is propelling growth of the global bioenergy market in the near future. The transportation sector which is backbone of every economy depends on oil, which makes it remarkably vulnerable to any alteration in the overall oil price. Current economies are heavily dependent on sustainable energy to achieve significant growth. Thus, the sustainable environmental project initiated by various governments is likely to propel the usage of biomass energy around the globe.

The majority of the manufacturers are focusing on spreading awareness and also investing heavily in order to expand their geographical presence across the globe. Vertical integration is significant business strategy adopted by the top players functioning in this market.

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Europe Dominates in Bioenergy Adoption

Europe is at the head of the bioenergy spending, shifting the perspective of the vast population towards ecofriendly living couple with its positive efforts. The European region accounted for 44.0% of the global market with support from governments in the form of subsidies. The major production plants supplemented the bioenergy needs of Europe are based in France, the U.K., Germany, and Sweden. The major policies altering the face of the energy mix in Europe are promotion of renewable electricity, European emissions trading schemes, and biofuels and landfill directives.