Bioenergy Market Size and Trends
The bioenergy market size is forecasted to increase by USD 88.4 billion, at a CAGR of 7.81% between 2023 and 2028. The market's growth hinges on various factors, notably escalating concerns regarding the environment and energy security, alongside an augmented demand for renewable, clean fuel sources. Supportive government policies further propel this trajectory, fostering a conducive environment for market expansion. As sustainability takes center stage globally, industries are increasingly turning towards renewable energy solutions to mitigate environmental impact and enhance energy resilience. This paradigm shift towards clean fuel underscores the market's pivotal role in addressing contemporary energy challenges. With governments incentivizing renewable energy adoption and fostering innovation in this domain, especially in clean energy technologies, the market is poised for substantial growth, driving advancements towards a more sustainable and secure energy future.
Request Free Sample
The market encompasses various renewable sources, including biomass, agricultural waste, and solid waste. Biofuels, such as biogas and liquid biofuels derived from these sources, play a significant role in this sector. Bioorganic waste, including timber, compost, sugarcane, straw, and other agricultural residues, serves as essential feedstocks for bioenergy production. The installed base of bioenergy technologies includes biogas plants, dle (direct liquid extraction) systems, and green hydrogen production facilities. Landfills can also be utilized as sources of biogas and energy. Renewable energy investment in bioenergy has been increasing due to the potential for electricity generation, energy security, and mitigating the energy crisis. Biomass supply is a critical factor in the success of this industry, with ongoing research and development in bioenergy investment and bioenergy technologies. Bioenergy from biomass and organic waste can be converted into various forms, including biogas, liquid biofuels, and green hydrogen. These alternative energy sources offer a sustainable solution to the reliance on traditional fossil fuels like oil.
Market Segmentation
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Application Outlook
Off-grid electricity
Cooking
Transportation
Others
Product Type Outlook
Liquid biofuel
Solid biomass
Biogas
Region Outlook
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Rest of Europe
APAC
China
India
Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa
South America
Argentina
Brazil
Chile
By Application Insights
The market share growth by the transportation segment will be significant during the forecast period. This growth is attributed to factors such as a rise in the demand for biodiesel products. Biodiesel is an alternative to regular diesel for diesel engines, as it is environmentally friendly.
Get a glance at the market share of various regions Download the PDF Sample
The transportation segment showed a gradual increase in the market share of USD 62.90 billion in 2018. Conventional fuels are increasingly being replaced by alternatives such as bioethanol and biodiesel. Biodiesel, gasoline-blended methyl tert-butyl ether (MTBE)/tert-amyl methyl ether (TAME), and dimethyl ether (DME) are widely used in the automotive industry. The demand for fuels such as MTBE/TAME, biodiesel, and DME is expected to rise during the forecast period due to the increasing adoption of emission-controlled fuels.
Regional Analysis
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is Europe. European market witnesses significant investment due to its role in ensuring energy security and reducing reliance on oil. With oil price fluctuations, the need for alternative and renewable energy sources has become increasingly important. Biofuel technologies, such as cellulosic ethanol and algae-based biofuels, are strategic announcements towards a sustainable energy future. Solid biomass resources, including agricultural byproducts and waste materials, serve as the primary feedstocks for bioenergy production. Biogas demand continues to rise, contributing to a reduction in greenhouse gas emi
https://www.thebusinessresearchcompany.com/privacy-policyhttps://www.thebusinessresearchcompany.com/privacy-policy
Global Bioenergy market size is expected to reach $473.49 billion by 2029 at 10%, ambitious carbon reduction targets drive the bioenergy market
https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy
The Bioenergy Market report segments the industry into Type (Solid Biomass, Biogas, Renewable Waste, Other Types), Technology (Gasification, Fast Pyrolysis, Fermentation, Other Technologies), and Geography (North America, Europe, Asia-Pacific, South America, Middle-East and Africa). The report includes Market Size and Demand Forecast till 2028 (for regions only). This report provides historical data and five-year forecasts.
https://www.imarcgroup.com/privacy-policyhttps://www.imarcgroup.com/privacy-policy
The global bioenergy market size reached 166.7 GW in 2024. Looking forward, IMARC Group expects the market to reach 317.0 GW by 2033, exhibiting a growth rate (CAGR) of 6.6% during 2025-2033. The rapid urbanization, the increasing energy needs worldwide, the stricter environmental regulations, the shift from fossil fuels to renewable sources, and the rising popularity of eco-friendly energy options are some of the factors propelling the market.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
| 2024 |
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024 | 166.7 GW |
Market Forecast in 2033 | 317.0 GW |
Market Growth Rate (2025-2033) |
6.6%
|
IMARC Group provides an analysis of the key trends in each segment of the global bioenergy market report, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on product type, feedstock, and application.
https://www.zionmarketresearch.com/privacy-policyhttps://www.zionmarketresearch.com/privacy-policy
Bioenergy Market was valued at $129.13 B in 2023, and is projected to reach $USD 247.58 B by 2032, at a CAGR of 7.50% from 2023 to 2032.
https://www.expertmarketresearch.com/privacy-policyhttps://www.expertmarketresearch.com/privacy-policy
The global bioenergy market reached nearly 183.37 Gigawatt in 2024. The market is assessed to grow at a CAGR of 7.30% during the forecast period of 2025-2034 to attain 370.96 Gigawatt by 2034. The market is being driven by the growing renewable energy generation, the increasing emphasis on sustainability, technological advancements and innovations, the rising use of bioenergy in the transportation sector, and the development of advanced biofuels.
https://www.valuemarketresearch.com/privacy-policyhttps://www.valuemarketresearch.com/privacy-policy
The forecast for the global Bioenergy market predicts substantial growth, with market size projected to soar to USD 282.78 Billion by 2033, a significant increase from the USD 137.29 Billion recorded in 2024. This expansion reflects an impressive compound annual growth rate (CAGR) of 8.36% anticipated between 2025 and 2033.
The Global Bioenergy market size to cross USD 6.28 Billion in 2033. [http
The United States' bioenergy market reached 12.6 gigawatts in 2023. Bioenergy in the U.S. is forecast to increase by a nearly 12 gigawatts in 2032 compared to 2023.
https://www.techsciresearch.com/privacy-policy.aspxhttps://www.techsciresearch.com/privacy-policy.aspx
The global bioenergy market is a dynamic and essential component of the broader renewable energy landscape, driven by the need for sustainable, low-carbon energy sources.
Pages | 185 |
Market Size | |
Forecast Market Size | |
CAGR | |
Fastest Growing Segment | |
Largest Market | |
Key Players |
https://www.datainsightsmarket.com/privacy-policyhttps://www.datainsightsmarket.com/privacy-policy
The European bioenergy market is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 8% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing urgency to reduce greenhouse gas emissions and meet stringent environmental regulations across the EU is significantly boosting demand for renewable energy sources like biomass, biogas, biodiesel, and bioethanol. Secondly, supportive government policies, including subsidies and incentives for biofuel production and consumption, are creating a favorable market environment. Furthermore, technological advancements are improving the efficiency and cost-effectiveness of bioenergy production, making it a more competitive alternative to fossil fuels. The market segmentation reveals a diverse landscape, with biomass likely holding the largest share, followed by biogas and biodiesel, owing to their established infrastructure and widespread applications in heating, power generation, and transportation. While bio-ethanol holds a significant position, "Others" (likely including advanced biofuels) represent a growing segment with considerable future potential. Key players such as Shell, Bunge, and others are actively investing in research, development, and expansion to capitalize on this market opportunity, furthering its growth trajectory. The major restraining forces currently impacting the market include fluctuating feedstock prices, land-use constraints for biomass cultivation, and potential concerns regarding the sustainability of certain biofuel production methods. Addressing these challenges through sustainable agricultural practices, diversified feedstock sourcing, and technological innovations focused on efficiency and reduced environmental impact will be crucial to unlocking the full potential of the European bioenergy market. Regional variations exist, with countries like Germany, France, and the United Kingdom leading the market due to well-established policies, infrastructure, and high energy demands. However, other European nations are also witnessing significant growth as they adopt renewable energy targets and improve their bioenergy infrastructure. The market's future trajectory hinges on continued policy support, technological improvements, and a commitment to sustainable practices across the entire bioenergy value chain. Recent developments include: In May 2022, Engie SA and OCI NV and EEW Energy from Waste GmbH (EEW) have teamed up to develop a hydrogen and e-methanol project in the Netherlands. Located in Groningen province in the north of the Netherland. The plant will be using waste to create bioenergy in the coming years., In May 2022, Funds managed by Greencoat Capital have agreed to acquire a 41.8-MW biomass power plant in South Wales from Glennmont Partners. This is expected to be a major bioenergy development in the funds history.. Key drivers for this market are: 4., Rising Deep-Water Offshore Development Activity4.; Improved Viability of Offshore Oil and Gas Projects. Potential restraints include: 4., Competition from Crew Transfer Ships. Notable trends are: Biodiesel to Witness Significant Growth.
https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy
The Market is Segmented by Type (Biomass, Biogas, Biodiesel, Bio-Ethanol, and Others), and Geography (United Kingdom, France, Spain, Germany, Rest of Europe)
https://www.cognitivemarketresearch.com/privacy-policyhttps://www.cognitivemarketresearch.com/privacy-policy
According to Cognitive Market Research, the global Bioenergy market size will be USD 136241.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 8.80% from 2025 to 2033.
North America held the major market share for more than 40% of the global revenue with a market size of USD 50409.47 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 39510.12 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.1% from 2025 to 2033.
APAC held a market share of around 23% of the global revenue with a market size of USD 32698.03 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.8% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 5177.19 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2025 to 2033.
The Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 5449.67 million in 2025. and will grow at a compound annual growth rate (CAGR) of 8.1% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 2997.32 million in 2025. and will grow at a compound annual growth rate (CAGR) of 8.5% from 2025 to 2033.
Liquid Biofuel category is the fastest growing segment of the Bioenergy industry
Market Dynamics of Bioenergy Market
Key Drivers for Bioenergy Market
Rising Demand for Renewable Energy Sources to Boost Market Growth
The market for bioenergy is expanding due in large part to the growing need for alternative energy sources. Concerns about climate change, energy security, and the depletion of fossil fuels are becoming more widespread, and governments and businesses are turning their attention to sustainable energy sources. A sustainable, carbon-neutral alternative to fossil fuels for transportation, heating, and electricity, bioenergy is made from organic resources such as forestry residues, energy crops, and agricultural waste. The Paris Agreement and other global climate goals, such as net-zero aims, further assist this shift. Because of its scalability, accessibility to biomass feedstocks, and compatibility with current infrastructure, bioenergy is a desirable option that greatly contributes to the growth of the global renewable energy mix and market.
Advancements in Bioenergy Technologies to Boost Market Growth
Innovations in technology in bioenergy are largely propelling the market's expansion. New techniques for converting biomass, like gasification, pyrolysis, and anaerobic digestion, are cutting production costs and emissions and increasing energy efficiency. The creation of second and third-generation biofuels from algae and non-food feedstocks is broadening the pool of feasible resources and tackling issues of food security and sustainability. Additionally, yields from bio-based processes are rising thanks to improved microbial and enzyme technology. Using digital tools like AI and IoT is improving supply chains and operations. Due to these technological advancements, bioenergy is becoming more competitive with conventional energy sources, increasing industry adoption and hastening the global shift to cleaner energy sources.
Restraint Factor for the Bioenergy Market
Advanced Biofuels and Waste-To-Energy Systems Require Significant Upfront Expenditures for Setup, Technology, and Infrastructure Will Limit Market Growth
The market expansion for bioenergy is significantly hampered by the high initial capital expenditure. Establishing bioenergy facilities necessitates a significant financial investment, particularly for those that use cutting-edge technologies like gasification, anaerobic digestion, or the manufacture of second-generation ethanol. Equipment, infrastructure, feedstock processing systems, and regulatory compliance are among the expenses. It can be difficult for many small and medium-sized businesses or developing nations to obtain such funding, which restricts their ability to enter new markets. Private sector involvement is further discouraged by lengthy payback times and ambiguity surrounding return on investment. Even while operating costs might eventually decrease, the high initial outlay continues to be a hurdle, impeding the globa...
The market size of the bioenergy sector in Latin America grew from roughly 10.4 billion U.S. dollars in 2020 to more than 12 billion U.S. dollars in 2022. By 2030, the sector is forecast to reach a market size of almost 24 billion U.S. dollars.
More information about the renewable energy sector in Latin America can be found here.
https://www.prophecymarketinsights.com/privacy_policyhttps://www.prophecymarketinsights.com/privacy_policy
Bioenergy Market is will grow to reach USD 215.02 Billion by 2030 and compound yearly growth rate CAGR of 7.50% over the course of the forecast period.
https://dataintelo.com/privacy-and-policyhttps://dataintelo.com/privacy-and-policy
The global bio-energy market size was estimated at approximately USD 135 billion in 2023 and is expected to reach around USD 285 billion by 2032, growing at a robust CAGR of 7.9% during the forecast period. This significant growth can be attributed to various factors, including increasing environmental awareness, government incentives, and technological advancements in bio-energy production methods.
One of the primary growth factors driving the bio-energy market is the increasing global demand for renewable energy sources. With the rising concerns over climate change and the need to reduce greenhouse gas emissions, many countries are transitioning from fossil fuels to cleaner, renewable energy sources. Bio-energy, derived from organic materials such as plants, agricultural waste, and animal waste, offers a sustainable alternative that can significantly lower carbon footprints. Additionally, advancements in bio-energy technologies have made it more economically viable, further bolstering its adoption across various sectors.
Government policies and incentives also play a pivotal role in the growth of the bio-energy market. Numerous countries have implemented supportive policies, including subsidies, tax credits, and grants, to encourage the production and use of bio-energy. For instance, the European Union has set ambitious targets for renewable energy consumption, which includes bio-energy as a key component. Similarly, the United States has various programs under the Renewable Fuel Standard (RFS) and other initiatives that promote the use of biofuels. Such regulatory frameworks are crucial in driving investments and fostering the development of bio-energy infrastructure.
Technological advancements are another significant factor contributing to the market's growth. Innovations in bio-energy production methods, such as advanced bio-refining techniques, improved feedstock processing, and enhanced efficiency of bio-energy plants, have substantially increased the energy output and reduced costs. These technological improvements not only make bio-energy more competitive compared to other energy sources but also open up new applications in sectors like transportation, power generation, and industrial processes. Moreover, ongoing research and development activities are expected to uncover new feedstock sources and more efficient conversion technologies, further propelling the market forward.
In terms of regional outlook, Europe is anticipated to lead the global bio-energy market, followed by North America and Asia Pacific. The European market benefits from strong governmental support and a well-established infrastructure for renewable energy. North America is expected to witness substantial growth due to favorable regulatory frameworks and significant investments in bio-energy projects. Asia Pacific, particularly countries like China and India, is also showing promising growth potential due to increasing energy demands and a shift towards sustainable energy solutions. Each of these regions presents unique opportunities and challenges that will shape the future of the bio-energy market.
The bio-energy market is segmented into various technologies, including biogas, biomass, bioethanol, biodiesel, and others. Each of these technologies plays a crucial role in the overall bio-energy landscape, offering unique advantages and applications. Biogas, for instance, is produced through the anaerobic digestion of organic materials such as agricultural waste, animal manure, and municipal waste. It is widely used for power and heat generation, and as a renewable natural gas (RNG) for transportation. The biogas segment is expected to witness substantial growth due to increasing investments in biogas plants and the rising demand for RNG in the transportation sector.
Biomass, another significant technology in the bio-energy market, involves the direct combustion of organic materials to produce heat and power. Biomass energy is one of the oldest forms of renewable energy and remains a critical component of the modern bio-energy industry. Advances in biomass conversion technologies, such as gasification and pyrolysis, have improved the efficiency and environmental performance of biomass power plants. The growing adoption of biomass for industrial and residential heating, coupled with supportive government policies, is driving the growth of this segment.
Bioethanol, a type of biofuel produced from the fermentation of sugars found in crops like corn and sugarcane, is primarily used as a transportatio
In 2024, the global landscape of bioenergy reflected a growing commitment to renewable energy sources, in response to the urgent need for more sustainable energy solutions worldwide. As the impacts of climate change have become more pronounced and fossil fuel reserves have dwindled, many more countries worldwide have begun turning to bioenergy as a viable alternative. Who are the major players worldwide? China was the country with the highest bioenergy capacity in 2024, boasting nearly 32.6 gigawatts. China has vast agricultural and forestry resources that provide a steady supply of biomass feedstock for bioenergy production. Brazil followed closely behind, with a bioenergy capacity of 17.8 gigawatts. Brazil's fertile land and favorable climatic conditions for sugarcane production ensure a readily available and cost-effective feedstock for ethanol production. Third in this ranking India, which reached a bioenergy capacity of approximately 11.2 gigawatts. This production can be attributed to its investment in biomass power plants and the widespread utilization of agricultural waste as a primary resource. What are the concerns? While bioenergy offers several advantages, it is also essential to consider its potential drawbacks. One significant concern is the potential impact on land use. Large-scale bioenergy production requires substantial areas of land, which can lead to deforestation, habitat loss, and competition with food crops. Additionally, the carbon neutrality of bioenergy is often debated. While biofuels are considered renewable, their production and combustion can still release greenhouse gases, especially if not managed sustainably. Furthermore, the intensive use of fertilizers and pesticides in bioenergy crop cultivation may harm ecosystems and water quality.
https://www.marketreportanalytics.com/privacy-policyhttps://www.marketreportanalytics.com/privacy-policy
The global bioenergy market, valued at $193.67 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 7.81% from 2025 to 2033. This expansion is driven by several key factors. Increasing concerns about climate change and the urgent need to transition towards sustainable energy sources are significantly boosting the adoption of bioenergy as a cleaner alternative to fossil fuels. Government initiatives promoting renewable energy, coupled with supportive policies and financial incentives, are further fueling market growth. The rising demand for biofuels in transportation, particularly in the form of biodiesel and ethanol blends, is another significant contributor. Furthermore, advancements in bioenergy technologies, resulting in increased efficiency and reduced production costs, are making bioenergy a more economically viable option. The diverse applications of bioenergy, encompassing off-grid electricity, cooking, and transportation, contribute to its broad appeal and market penetration. Despite the positive outlook, certain challenges hinder market expansion. Fluctuations in feedstock prices, primarily agricultural commodities used in biofuel production, can impact profitability and market stability. Land use change associated with biofuel cultivation remains a concern, raising questions about sustainability and environmental impact. Technological limitations and the need for further research and development to enhance bioenergy efficiency and reduce production costs also pose challenges. However, continuous innovation and ongoing efforts to address these challenges are expected to support the continued expansion of the bioenergy market over the forecast period. Regional variations in growth rates will reflect factors such as government policies, economic conditions, and the availability of suitable feedstock. North America and Europe are expected to lead in market share, driven by established industries and supportive government regulations. However, developing economies in Asia-Pacific are anticipated to exhibit significant growth potential, driven by increasing energy demands and investment in renewable energy infrastructure.
https://mobilityforesights.com/page/privacy-policyhttps://mobilityforesights.com/page/privacy-policy
In GCC Bioenergy Market, Increasing collaboration between public and private sectors is helping to establish bioenergy infrastructure, enabling a circular energy economy.
https://www.coherentmarketinsights.com/privacy-policyhttps://www.coherentmarketinsights.com/privacy-policy
Sustainable Bioenergy Market is segmented By Source (Bioenergy Crops, Agricultural Residues, Post-consumer Waste, Animal Waste, and Forestry Products) and Product Type (Bioethanol, Biodiesel, Biogas, Hydrocarbon Biofuel, and Others)
https://www.valuemarketresearch.com/privacy-policyhttps://www.valuemarketresearch.com/privacy-policy
Global Sustainable Bioenergy Market is poised for a significant growth, with market size projected to surge from USD 189.26 Billion in 2024 to USD 462.21 Billion by 2033, showcasing a robust Compound Annual Growth Rate (CAGR) of 10.43% during the forecast period.
The Global Sustainable Bioenergy market size to cross USD 462.21 Billion by 2033. [https://edison.valuemarketresearch.com//uploads/repo
Bioenergy Market Size and Trends
The bioenergy market size is forecasted to increase by USD 88.4 billion, at a CAGR of 7.81% between 2023 and 2028. The market's growth hinges on various factors, notably escalating concerns regarding the environment and energy security, alongside an augmented demand for renewable, clean fuel sources. Supportive government policies further propel this trajectory, fostering a conducive environment for market expansion. As sustainability takes center stage globally, industries are increasingly turning towards renewable energy solutions to mitigate environmental impact and enhance energy resilience. This paradigm shift towards clean fuel underscores the market's pivotal role in addressing contemporary energy challenges. With governments incentivizing renewable energy adoption and fostering innovation in this domain, especially in clean energy technologies, the market is poised for substantial growth, driving advancements towards a more sustainable and secure energy future.
Request Free Sample
The market encompasses various renewable sources, including biomass, agricultural waste, and solid waste. Biofuels, such as biogas and liquid biofuels derived from these sources, play a significant role in this sector. Bioorganic waste, including timber, compost, sugarcane, straw, and other agricultural residues, serves as essential feedstocks for bioenergy production. The installed base of bioenergy technologies includes biogas plants, dle (direct liquid extraction) systems, and green hydrogen production facilities. Landfills can also be utilized as sources of biogas and energy. Renewable energy investment in bioenergy has been increasing due to the potential for electricity generation, energy security, and mitigating the energy crisis. Biomass supply is a critical factor in the success of this industry, with ongoing research and development in bioenergy investment and bioenergy technologies. Bioenergy from biomass and organic waste can be converted into various forms, including biogas, liquid biofuels, and green hydrogen. These alternative energy sources offer a sustainable solution to the reliance on traditional fossil fuels like oil.
Market Segmentation
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Application Outlook
Off-grid electricity
Cooking
Transportation
Others
Product Type Outlook
Liquid biofuel
Solid biomass
Biogas
Region Outlook
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Rest of Europe
APAC
China
India
Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa
South America
Argentina
Brazil
Chile
By Application Insights
The market share growth by the transportation segment will be significant during the forecast period. This growth is attributed to factors such as a rise in the demand for biodiesel products. Biodiesel is an alternative to regular diesel for diesel engines, as it is environmentally friendly.
Get a glance at the market share of various regions Download the PDF Sample
The transportation segment showed a gradual increase in the market share of USD 62.90 billion in 2018. Conventional fuels are increasingly being replaced by alternatives such as bioethanol and biodiesel. Biodiesel, gasoline-blended methyl tert-butyl ether (MTBE)/tert-amyl methyl ether (TAME), and dimethyl ether (DME) are widely used in the automotive industry. The demand for fuels such as MTBE/TAME, biodiesel, and DME is expected to rise during the forecast period due to the increasing adoption of emission-controlled fuels.
Regional Analysis
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is Europe. European market witnesses significant investment due to its role in ensuring energy security and reducing reliance on oil. With oil price fluctuations, the need for alternative and renewable energy sources has become increasingly important. Biofuel technologies, such as cellulosic ethanol and algae-based biofuels, are strategic announcements towards a sustainable energy future. Solid biomass resources, including agricultural byproducts and waste materials, serve as the primary feedstocks for bioenergy production. Biogas demand continues to rise, contributing to a reduction in greenhouse gas emi