PUBLISHER: The Business Research Company | PRODUCT CODE: 1464052
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464052
A biomass boiler is a type of boiler that utilizes organic materials such as wood pellets, wood chips, agricultural residues, or other biomass resources as fuel to produce heat or electricity. These boilers are engineered to efficiently burn biomass, offering a renewable and sustainable alternative to traditional fossil fuels. They find application in heating homes, businesses, and industrial processes, contributing to the reduction of greenhouse gas emissions by utilizing carbon-neutral fuel sources.
Key types of biomass boilers include stokers, bubbling fluidized beds, circulating fluidized beds, and others. A stoker biomass boiler operates by employing a mechanical system to feed fuel into the combustion chamber, where it is then burned to generate heat. These boilers are utilized across various applications, including heating and power generation, catering to end-users in residential, commercial, and industrial sectors.
The biomass boilers market research report is one of a series of new reports from The Business Research Company that provides biomass boilers market statistics, including biomass boilers industry global market size, regional shares, competitors with a biomass boilers market share, detailed biomass boilers market segments, market trends and opportunities, and any further data you may need to thrive in the biomass boilers industry. This biomass boilers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biomass boilers market size has grown rapidly in recent years. It will grow from $6.35 billion in 2023 to $7.39 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The expansion observed during the historical period can be attributed to several factors, including concerns about energy security, environmental considerations, the implementation of renewable energy policies, and advancements in waste management practices.
The biomass boilers market size is expected to see rapid growth in the next few years. It will grow to $12.70 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. Anticipated growth in the forecast period can be linked to various factors, such as efforts to mitigate climate change, the establishment of renewable energy targets, initiatives promoting the circular economy, and endeavors to enhance energy access and security. Major trends expected during this period encompass improvements in efficiency, the adoption of modular and scalable solutions, integration with renewable energy systems, the implementation of digitalization and smart controls, and the development of bioenergy districts.
The burgeoning demand for renewable heating solutions is poised to drive the expansion of the biomass boilers market in the foreseeable future. Renewable heating solutions encompass systems or technologies that utilize energy sources derived from renewable resources to generate heat for residential, commercial, or industrial purposes. Biomass boilers emerge as a prominent choice for renewable heating solutions owing to their environmentally friendly nature, cost-effectiveness, and reliability. Moreover, they play a pivotal role in curbing greenhouse gas emissions, enhancing energy security, and facilitating the transition towards a cleaner, more sustainable energy landscape. For instance, as per reports published by the International Energy Agency in 2022, renewable heat consumption is projected to surge by nearly one-third during 2022-2027, elevating the modern use of renewables in heat from 11.4% to 14% within the same period. Additionally, data from the New York State Energy Research and Development Authority (NYSERDA) indicate a substantial increase in heat pump sales, rising from 3.9 million units in 2021 to 4.3 million units by 2022. Consequently, the escalating demand for renewable heating solutions is anticipated to propel the growth of the biomass boiler market.
Leading companies operating in the biomass boiler market are strategically expanding their operations to cater to the surging demand for renewable energy sources and the imperative to reduce carbon emissions. Business expansion entails the augmentation of a company's operations, activities, and market footprint, typically involving the amplification of operational scale, exploration of new markets, and diversification of products or services. For example, in March 2022, ANDRITZ, an Austria-based machinery industry company, successfully inaugurated a new biomass boiler plant at Vattenfall AB in Uppsala, Sweden, as part of its Carpe Futurum project. This facility delivers over 110 MW of district heat to the Uppsala region and is also equipped for future electricity production. The initiative aligns with Vattenfall AB's objective of achieving carbon neutrality, boasting an efficient and eco-friendly design that resonates with the global emphasis on renewable energy sources and carbon emissions reduction.
In May 2022, Yokogawa, a prominent electric company headquartered in Japan, finalized the acquisition of Dublix for an undisclosed sum. This strategic move aligns with Yokogawa's objectives of offering holistic monitoring, control, and maintenance systems tailored for the waste-to-energy and biomass power sectors, thereby advancing sustainability initiatives. Dublix, based in Denmark, specializes in providing optimization services for waste-to-energy and biomass processes, making it a valuable addition to Yokogawa's portfolio in the renewable energy sector.
Major companies operating in the biomass boilers market report are Siemens AG, General Electric Company, Alstom SA, Doosan Heavy Industries And Construction Co. Ltd., IHI Corporation, ANDRITZ AG, Thermax Limited, Harbin Electric Company Limited, Bharat Heavy Electricals Limited, Babcock And Wilcox Enterprises, Inc., Aalborg Energie Technik A/S, Hurst Boiler And Welding Co. Inc., Schmid energy solutions AG, Mitsubishi Hitachi Power Systems, Leroux and Lotz Technologies, Wood Energy Ltd, ETA Heiztechnik GmbH, Wellons Inc, Baxi Group Limited, AMEC Foster Wheeler plc, Nexterra Systems Corp., Advanced Recycling Equipment Inc, VAS Energy Systems International GmbH, LAMBION Energy Solutions GmbH, Mawera GmbH, Kohlbach Group, Jernforsen Energi System AB, Ansaldo Energia S.p.A., Energy Innovations (UK) Ltd, Lin-Ka Maskinfabrik A/S
Asia-Pacific was the largest region in the biomass boilers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biomass boilers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the biomass boilers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biomass boiler market consists of sales of wood chip boilers, log boilers, biomass pellet stoves, combined heat and power (CHP) systems, and biomass district heating systems. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biomass Boilers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biomass boilers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biomass boilers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biomass boilers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.