The global bioliquid heat and power generation market is expected to grow from an estimated value of $1.67 billion in 2017 to $2.29 billion by 2022, at a CAGR of 6.54%, from 2017 to 2022. The bioliquid heat and generation market is driven by factors such as the easy availability of feedstocks and reduction in carbon emissions.
The availability of technology to convert feedstocks to liquid biofuels is expected to boost the demand for bioliquid heat and power generation. The emerging markets in Asia Pacific present a great opportunity for the bioliquid heat and power generation market due to significant government initiatives to promote renewable energy generation through biofuels.
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Asia Pacific is expected to be the fastest-growing bioliquid heat and power generation market
In Asia Pacific, governments are focusing on increasing the contribution of renewable energy sources to meet domestic electricity demand. The market in Europe is expected to dominate the global bioliquid heat and power generation market due to increasing investments in the renewable energy sector and stringent regulatory frameworks related to the implementation of bioliquids in the region. The Chinese market is expected to dominate the market in Asia Pacific. The bioliquid heat and power generation market is expected to grow at a significant rate in countries such as India, Japan, and South-East Asian countries.
Europe is expected to be the largest bioliquid heat and power generation market
The market in Europe is expected to lead the global bioliquid heat and power generation market by 2022. The market size in this region can be attributed to the increasing focus on the renewable energy sector, of which bioliquid is a part. Countries such as Germany, the UK, and France are the key markets for bioliquid heat and power generation in Europe. The stringent regulatory framework regarding bioliquids in the region is expected to drive the market in Europe.
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The key players in the Bioliquid Heat and Power Generation Market include REG (US), Neste (Finland), Kraton (US), BTG (Netherlands), and Olleco (UK).