Organic materials like biomass, biofuels, biogas, and other plant and animal feedstocks are used to create bioenergy, a type of renewable energy. In addition to being used in heating, lighting, and other bio-based products, bioenergy is also used in transportation. It is one of the main renewable sources used in transportation and heating systems. Wood waste, agricultural products, municipal solid waste, and animal and plant feedstocks are some of the sources used to produce bioenergy. Due to increased investments and growing knowledge of the advantages of renewable energy in developing nations, the renewable energy sector is expanding quickly, which has a substantial positive impact on the growth of the global bioenergy market. The rapid expansion of the electric vehicle industry and the high initial cost of installing a bioenergy plant, however, are anticipated to restrain the growth of the worldwide bioenergy market from 2021 to 2030. On the other hand, increased spending on research and development of waste to energy technologies and effective waste management is anticipated to open up significant growth prospects for key market participants in the coming years.

Region Analysis:

In terms of revenue, Europe accounted for the largest portion of the global bioenergy market in 2020, and it is predicted that it will continue to hold this position throughout the forecast period. This is due to region's significant customer base and key player presence. Additionally, it is anticipated that the European Union member states will boost their bioenergy R&D and investment during the forecast period in order to meet their nations' future renewable energy requirements.

Key Highlights:

• In July 2021, EnviTec Biogas AG and Liquind 24/7 GmbH entered into a contract to transport and distribute the bio-LNG generated at Gustrow by EnviTec Biogas AG to heavy-duty customers at Liquind 24/7 GmbH's truck fuelling stations in Germany.
• In 2021, After a brief 12-month building phase, EnviTec Biogas AG began operating its biogas production in China. Maize stover silage, turkey litter, and dairy cattle dung would be the inputs for the 1,570 Nm3 biogas facility in Shanxi province.

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Key Market Insights from the report:

Global Bioenergy Market Bioenergy Market size accounted for US$ 104.56 billion in 2020 and is estimated to be US$ 215.02 billion by 2030 and is anticipated to register a CAGR of 7.50%. The global Bioenergy Market is segmented based on feedstock, product type, application and region.

• Based on Feedstock, Bioenergy Market is segmented into Solid Waste, Wood Waste, Agricultural Waste and Others.
• Based on Product Type, Bioenergy Market is segmented into Biogas, Liquid Biofuel, Solid Biomass and Others.
• Based on Application, Bioenergy Market is segmented into Transportation, Heat Generation, Power Generation and Others. 
• By Region, the Bioenergy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Bioenergy Market:

The key players operating in the Bioenergy Market includes Mitsubishi Heavy Industries Ltd, Hitachi Zosen Corp., BTG Biomass Technology Group, Babcock & Wilcox Volund AS, Biomass Engineering Ltd, and Orsted AS.