NEW YORK, May 22, 2019 /PRNewswire/ —
About this market
The continuous rise in government support for renewable energy including biomass power is one of the key factors expected to trigger the market growth during the forecast period. Several governments are making biomass as an integral part of their energy policies. The use of biomass in a biomass power plant further prevents uncontrolled emission of methane while helping in the maintenance of carbon balance in the environment. As a result, governments can provide financial assistance for projects utilizing biomass including crop residues and wood waste produced in industrial operations. As a result, the rising support from the government will eventually boost the material handling equipment market growth in biomass power plants. Analysts have predicted that the material handling equipment market will register a CAGR of over 7% by 2023.
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Market Overview
The rise in government support for renewable energy, including biomass power
The financial support in terms of tax incentives or capital expenditure and fixed and high feed-in-traffics for biomass drive the growth of the global material handling equipment for biomass power plants.
The declining cost of solar and wind power plants
The declining cost of generating solar and wind power and storing electricity hinders the growth of the material handling equipment market for biomass plant during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the material handling equipment market in biomass power plant during the 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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