Global Biomass Power Generation Market

Biomass Power Generation Market Size, Share, Growth Analysis, By Feedstock (Agricultural Waste, Forest Waste), By Technology (Combustion, Gasification), By Fuel (Solid, Liquid,), By End-use (Industrial, Residential & Commercial) By Region - Industry Forecast 2024-2031

Report ID: SQMIG55F2054 | Region: Global | Published Date: November, 2024
Pages: 182 | Tables: 94 | Figures: 67

Biomass Power Generation Market News

  • In March 2024, Carbon removals and renewable energy company Drax Group announced a new partnership with Louisiana State University (LSU) to support students and research associated with sustainable forestry and renewable energy. The collaboration will allow LSU and Drax to help advance energy innovation on a global level, while building on LSU’s legacy of sustainable forestry and innovative energy research.  
  • In March 2024, ENGIE obtained approval from the National Electricity Coordinator (CEN) to start commercial operation of BESS Coya, the largest battery energy storage system in Latin America to date.
  • In October 2023, ENGIE signed an agreement to acquire 100 % of Atlas Energia Renovável do Brasil S.A. and Atlas Brasil Energia Holding 2 S.A. This acquisition will bring to ENGIE solar photovoltaic (PV) plants in the Northeast (Bahia and Ceará) and the Southeast (Minas Gerais), for a total capacity of 545 MWac in operation.
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Global Biomass Power Generation Market size was valued at USD 86.7 billion in 2022 and is poised to grow from USD 92.3 billion in 2023 to USD 117.87 billion by 2031, growing at a CAGR of 3.24% in the forecast period (2024-2031). 

In the competitive landscape of the biomass power generation market, several key players compete globally, each offering unique strengths and capabilities. Established energy companies, renewable energy developers, equipment manufacturers, and technology providers are among the primary participants shaping the market. 'Babcock & Wilcox Enterprises, Inc. (US) ', 'Xcel Energy Inc. (US) ', 'Salzburg AG (Austria) ', 'ENGIE (France) ', 'Ørsted A/S (Denmark) ', 'EPH (Czechia) ', 'Drax Group (England) ', 'ACCIONA (Spain) ', 'EDF (France) ', 'Vattenfall (Sweden) ', 'Belgian Eco Energy (BEE) (Belgium) ', 'D.E.S.I Power (India) ', 'Veolia (France) ', 'Statkraft (Norway) ', 'Greta Energy Limited (India) ', 'Verbio ', 'Lahti Energia Oy (Finland) ', 'RENOVA, Inc. (Japan) ', 'RWE (Germany) ', 'Yonago Biomass Power Generation LLC (Japan) '

Government policies and regulations promoting renewable energy sources play a significant role in driving the biomass power generation market. Renewable energy targets, feed-in tariffs, tax incentives, and renewable portfolio standards encourage investment in biomass energy projects and create a favorable market environment.

Integration of Advanced Conversion Technologies: One significant trend in the biomass power generation market is the increasing adoption of advanced conversion technologies such as gasification and pyrolysis. These technologies offer higher efficiency, lower emissions, and greater flexibility in biomass feedstock utilization compared to traditional combustion methods. Gasification, for example, converts biomass into syngas that can be used in various applications, including electricity generation, biofuel production, and chemical synthesis. Pyrolysis converts biomass into biochar, bio-oil, and syngas, offering opportunities for value-added products alongside power generation.

Europe stands as the dominant region in the global biomass power generation market. Several factors contribute to Europe's leading position in this sector. Firstly, Europe has been at the forefront of renewable energy adoption, with ambitious targets set to reduce greenhouse gas emissions and combat climate change. Biomass power generation aligns well with these goals, offering a renewable energy solution that can help displace fossil fuel-based electricity generation. Moreover, Europe benefits from a mature and well-established biomass infrastructure, including biomass-fired power plants, combined heat and power (CHP) facilities, and district heating systems. This infrastructure enables efficient utilization of biomass resources and facilitates the integration of biomass power into the energy grid.

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Global Biomass Power Generation Market

Report ID: SQMIG55F2054

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