PUBLISHER: The Business Research Company | PRODUCT CODE: 1465678
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465678
Biomass electricity generation involves the conversion of organic materials, such as wood, agricultural residues, or organic waste, into electricity. This renewable energy process entails burning biomass to produce steam, which subsequently powers turbines connected to generators, thus generating electricity. This method serves to mitigate greenhouse gas emissions, reduce reliance on fossil fuels, and utilizes organic materials that can be replenished sustainably.
The primary feedstock for biomass power generation includes woody biomass, agricultural and forest residues, biogas and energy crops, urban residues, and landfill gas (LFG) feedstock. Woody biomass comprises organic material sourced from trees and woody plants, encompassing branches, bark, wood chips, sawdust, and forest residues. Various technologies employed in biomass electricity generation include anaerobic digestion, combustion, gasification, co-firing, combined heat and power (CHP), and landfill gas (LFG), catering to diverse end-users such as commercial, industrial, and residential sectors.
The biomass power generation market research report is one of a series of new reports from The Business Research Company that provides biomass power generation market statistics, including biomass power generation industry global market size, regional shares, competitors with a biomass power generation market share, detailed biomass power generation market segments, market trends and opportunities, and any further data you may need to thrive in the biomass power generation industry. This biomass power generation 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 power generation market size has grown strongly in recent years. It will grow from $55.79 billion in 2023 to $59.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed during the historic period can be attributed to a variety of factors, including government policies and incentives aimed at promoting renewable energy, concerns regarding energy security, the implementation of environmental regulations, technological advancements in the field of biomass electricity generation, and initiatives focused on waste management.
The biomass power generation market size is expected to see strong growth in the next few years. It will grow to $74.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be credited to several factors, including the establishment of renewable energy targets, the promotion of circular economy initiatives, economic incentives and subsidies supporting biomass electricity generation, advancements in biomass conversion technologies, and the rising demand for sustainable energy solutions. Key trends expected during this period encompass the expansion of co-firing practices, integration of energy storage solutions, proliferation of distributed biomass power generation systems, emergence of biomass co-products, and the adoption of advanced control and automation systems.
Government initiatives aimed at promoting biomass power generation are poised to drive the growth of the biomass power generation market. These initiatives encompass planned actions, programs, or policies implemented by governments to address specific issues, achieve objectives, or cater to the needs of their constituents. Governments of major nations provide financial incentives, such as grants, subsidies, or tax credits, to incentivize the establishment and operation of biomass power plants. These incentives serve to alleviate the financial burden on investors and enhance the economic viability of biomass projects. For example, in November 2021, the Australian Renewable Energy Agency, an Australia-based government agency, allocated investments to bioenergy projects totaling over $1.2 billion. The Australian Government's Powering Australia plan aims to stimulate job creation, alleviate energy cost pressures, and reduce emissions by bolstering renewable energy sources, thus propelling the biomass power generation market forward.
Key players in the biomass power generation market are strategically embracing partnership models to gain a competitive advantage. Partnerships in biomass power generation yield various benefits, contributing to the success and sustainability of projects within this energy sector. For instance, in April 2023, Marubeni Corporation, a Japan-based trading company, forged a partnership with Taisei Corporation, a Japan-based real estate development firm, to commence construction on the Ishikari Area Biomass Power Plant in Ishikari City, Hokkaido. This facility is projected to generate 9,950 kW of power upon completion. Additionally, in December 2023, Air Burners, a US-based company specializing in manufacturing air curtain burner systems for biomass waste disposal, collaborated with Rolls-Royce, a UK-based luxury automobile manufacturer, and Volvo, a Swedish-based automotive company. Through this strategic collaboration, Air Burners developed the BioCharger, a portable device designed to convert biomass waste into energy efficiently. The BioCharger provides off-grid power solutions for various applications, showcasing the innovative potential of partnerships within the biomass power generation market.
In January 2023, Pacolet Milliken, LLC, a US-based investment firm, successfully acquired Piedmont Green Power for an undisclosed sum. This strategic acquisition reflects Pacolet Milliken's dedication to expanding its renewable energy portfolio and advancing sustainability goals. Piedmont Green Power, a US-based company, specializes in providing biomass power generation solutions. The acquisition aligns with Pacolet Milliken's commitment to promoting clean energy initiatives and reinforces its position in the renewable energy sector.
Major companies operating in the biomass power generation market are E.ON SE, ENGIE SA, Siemens AG, General Electric Company, Veolia Environnement SA, Mitsubishi Heavy Industries Ltd., ALSTOM Holdings, Dalkia by EDF Group, Drax Group PLC, Rockwell Automation Inc., MVV Energie AG, John Wood Group, Valmet Corporation, Alfa Laval, Aker Solutions, MEIDENSHA CORPORATION, Ameresco Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises Inc., EnviTec Biogas AG, Vattenfall AB, WELTEC BIOPOWER GmbH, KASAG Swiss AG, Beltran Technologies Inc., Volue
Europe was the largest region in the biomass power generation market in 2023. The regions covered in the biomass power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the biomass power generation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biomass power generation market consists of sales of gas generation, fuel generation, and solid generation. 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 Power Generation 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 power generation 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 power generation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biomass power generation 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.