The global biomass power generation market is projected to reach USD 105.7 billion by 2028 from an estimated USD 91.3 billion in 2023, at a CAGR of 3.0% during the forecast period. The growth of the biomass power generation market is driven by the focus of governments worldwide on net zero carbon emissions and their related initiatives such as policies, subsidies etc.
Key Market Players
The major players in the market ENGIE (France), Babcock & Wilcox Enterprises, inc. (US), Xcel Energy Inc. (US), EPH (Czechia) and Ørsted A/S (Denmark).
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Biomass power generation solutions will play a crucial role in reducing carbon footprints. To achieve these, governments are undertaking several initiatives to meet the future demands of energy by promoting the use of renewable sources to produce energy. The abundant availability of feedstock, low labor costs, need for electricity in rural areas and low cost of feedstock are some of the important driving factor of biomass power generation market.
This research report categorizes the biomass power generation market by feedstock, technology, fuel and region.
On the basis of feedstock:
- Agriculture Waste
- Forest Waste
- Animal Waste
- Municipal Waste
On the basis of technology:
- Combustion
- Gasification
- Anaerobic Digestion
- Pyrolysis
On the basis of fuel:
- Solid Fuel
- Liquid Fuel
- Gaseous Fuel
On the basis of region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
This report segments the biomass power generation market based on feedstock into four types: Agriculture Waste, Forest Waste, Animal Waste, and Municipal Waste. Forest Waste are expected to be the fastest market during the forecast period. Forest Waste mainly consists of the woody biomass. The woody biomass has been used traditionally for cooking and heating applications. According to the estimates, more than 55% of biomass comes from forest waste, to which the pulp & paper industry is the largest contributor.
This report segments the biomass power generation market based on technology into four categories: combustion, gasification, anaerobic digestion and pyrolysis. The gasification segment is expected to be the second-largest segment during the forecast period. Gasification is an emerging technology used for the power generation. A large number of projects are upcoming for gasification to produce electricity. For instance, Bio&Watt has one commercial biomass gasification plant for cogeneration on a small scale. The plant utilizes agro-industrial residues in the gasification process.
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Asia Pacific is expected to be the largest region in the biomass power generation market
Asia Pacific is expected to be the largest biomass power generation market during the forecast period. In Asia Pacific several countries planned pilot projects and carrying out full-scale development of commercial-scale biomass power plants to amplify bioenergy deployments in the region. This has increased investments toward new projects, research studies, and new installations of biopower plants in the Asia Pacific, especially in China and India. These factors are expected to fuel the growth of the biomass power generation market in the region.
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