Press Release Description

Germany Bioenergy Carbon Capture Storage Market Size is Projected to grow at a CAGR of 14.25% During 2024-30

The Germany Bioenergy Carbon Capture Storage Market is projected to grow at a CAGR of 14.25% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The surge in demand for bioenergy carbon capture & storage (BECCS) can be attributed to several factors. Such as the notable increase in government funding programs aimed at supporting the deployment of carbon capture and storage (CCS) technologies, including BECCS. This is driven by a growing emphasis on reducing carbon emissions, particularly in alignment with ambitious climate goals set by Germany.

As per the Organization for Economic Co-operation and Development (OECD), Germany aims at reducing its overall emissions by about 65% by 2030, and nearly 88% by 2045. Hence, the government is promoting the adoption of carbon-neutral methods across the various sectors. Carbon Capture and Storage have been observed as viable options in both aspects, i.e., in the integration of the existing manufacturing and power generation facilities as well as the new proposed ones. Moreover, the large amount of waste generated from agriculture and municipal sectors presents the country with huge biomass resources, which when used could not only provide energy as raw material but also support Germany’s economy as circular.

Along with this, Germany showcases an important manufacturing sector that earns revenues from domestic and export markets. However, industries such as automobiles, chemicals, pharmaceuticals, and heavy engineering are also major contributors to carbon dioxide emissions. Despite ongoing efforts to reduce industrial emissions, this sector still accounts for approximately 15% of Germany's total carbon emissions. As a result, there's a crucial need for these industries to move towards carbon neutrality, further states the research report, “Germany Bioenergy Carbon Capture Storage Market Analysis, 2024”.

Germany Bioenergy Carbon Capture & Storage Market

Germany Bioenergy Carbon Capture Storage Market Segmentation Analysis

Waste-to-Energy Power Plants Segment Expected to Hold Major Market Share

Based on the end user, the market is segmented into Waste-to-Energy Power Plants, Biofuel & Bio-Hydrogen Production Facilities, Bio-mass Fuelled Industries (Cement, Pulp & Paper), and others. The government's strong focus on waste management demonstrated through policies and regulations that prioritize recycling, waste reduction, and energy recovery from waste, has been instrumental in maintaining the dominant position of Waste-to-Energy Power Plants in the market. By 2017, Germany boasted a capacity of nearly 20 million tons across approximately 68 waste incineration units. These facilities have played a crucial role in reducing the amount of municipal waste sent to landfills, while effectively utilizing the waste.

During the combustion of organic waste to produce electricity or heat, carbon dioxide is emitted. However, this emission can be mitigated through the application of Bioenergy Carbon Capture and Storage (BECCS) technologies, which enable the capture, storage, and reuse of carbon dioxide. This not only aligns with Germany's circular economy goals but also is expected to drive the growth of the BECCS market in the coming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, Aker Carbon Capture, Carbon Free, Carbon Engineering, Calix Limited, Capsol Technologies, Carbon Clean, Carbon8 Systems Ltd., Svante Carbon Capture & Removal Solutions, Chart Industries, Mitsubishi Heavy Industries Ltd., and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the Germany Bioenergy Carbon Capture Storage Market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & solution adoption?
  5. How has the competition been shaping across various regions?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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