Bioenergy - United States

  • United States
  • In the United States, electricity generation in the Bioenergy market is projected to reach 59.07bn kWh in 2024.
  • The country anticipates an annual growth rate of 4.10%, which represents the CAGR for the period from 2024 to 2029.
  • In the United States, the bioenergy market is increasingly driven by policy incentives and technological advancements aimed at enhancing sustainability and reducing carbon emissions.

Key regions: Austria, Brazil, France, China, South Korea

 
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Analyst Opinion

The Bioenergy Market within the Renewable Energy sector in the United States is witnessing a considerable growth, influenced by regulatory challenges, fluctuating feedstock prices, and competition from other renewable sources, impacting its overall growth rate.

Customer preferences:
Consumers are increasingly prioritizing sustainability and environmental responsibility, creating a shift in preferences towards bioenergy solutions as a greener alternative to traditional fossil fuels. This trend is particularly evident among younger demographics who are more conscious of climate change and its impact, often opting for products and services that utilize renewable energy sources. Additionally, urbanization and lifestyle changes are leading to greater demand for local bioenergy initiatives, reflecting a desire for community resilience and energy independence.

Trends in the market:
In the United States, the Bioenergy market is experiencing a surge in interest as consumers increasingly favor sustainable energy solutions, particularly in the wake of heightened awareness of climate change. This trend is particularly pronounced among younger generations advocating for renewable energy sources over fossil fuels. Furthermore, local bioenergy initiatives are gaining traction, driven by urbanization and a desire for energy independence. Industry stakeholders must adapt to this evolving landscape, as the growing demand for bioenergy presents significant opportunities for innovation and investment in sustainable technologies.

Local special circumstances:
In the United States, the Bioenergy market is shaped by diverse geographical landscapes and cultural attitudes toward sustainability. Regions rich in agricultural production, like the Midwest, are leveraging crop residues and animal waste for biofuel production, promoting rural economic development. Meanwhile, coastal states are exploring marine biomass as an innovative energy source. Regulatory frameworks, such as the Renewable Fuel Standard, further influence investment and development, fostering a competitive environment for bioenergy solutions tailored to local needs and resources.

Underlying macroeconomic factors:
The Bioenergy market in the United States is significantly influenced by macroeconomic factors such as energy prices, technological advancements, and government policies aimed at promoting renewable energy. Fluctuating fossil fuel prices can enhance the competitiveness of bioenergy as an alternative, driving investment in production technologies. Additionally, federal and state incentives for renewable energy, including tax credits and grants, create a favorable investment climate. Global trends toward sustainability and carbon neutrality further bolster demand for bioenergy solutions, while economic health indicators, such as GDP growth and unemployment rates, impact consumer and industrial energy consumption patterns.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on the value of electricity production in the energy market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as annual reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electricity generation due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

Vue d’ensemble

  • Production
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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