Biopower market set to rise to 165.2 GW of installed capacity by 2025 as technologies advance, says GlobalData

Despite a slump in annual additions, the global biopower market is set to show steady growth, rising from 106.2 Gigawatts (GW) of installed capacity in 2015 to 165.2 GW by 2025, at a compound annual growth rate of 4.4%, according to research and consulting firm GlobalData. The company’s latest report states that global biopower is a niche market in the renewable energy industry, and is likely to grow at a significant rate in the future. Although bioenergy is not a new concept, recent advancements have improved both performance and reliability. The increases in global energy demand and climate change concerns are the primary growth drivers for the biopower industry. ….