USD 134.76 billion
Biomass Power Market Size, Share, Growth Analysis, By Feedstock(Agricultural residues, forest residues, biogas, and energy crops), By Technology(Combustion, gasification, co-firing, and anaerobic digestion), By End user(Residential, commercial, and industrial sectors), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG55F2047 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
92
|Figures:
76
Biomass Power Market Insights
Biomass Power Market size was valued at USD 134.76 billion in 2022 and is poised to grow from USD 142048 billion in 2023 to USD 210.45 billion by 2030, at a CAGR of 5.73 % during the forecast period (2023-2030).
The global biomass power market has witnessed significant growth in recent years due to increasing concerns about environmental sustainability and the shift towards renewable energy sources.
Favorable government policies and incentives, along with advancements in technology, have further propelled market expansion. Additionally, the rising demand for clean energy solutions and the potential to reduce greenhouse gas emissions have attracted investments in biomass power projects worldwide.
However, challenges like biomass availability and logistics must be addressed to sustain and maximize the sector's potential.
US Biomass Power Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
commercial
Fastest Growth
commercial
Growth Rate
5.73% CAGR
Global biomass power market by region
Country Share for North America (%)
To get more reports on the above market click here to Buy The Report
Biomass Power Market Segmental Analysis
The market is categorized based on feedstock, technology, region, and end-user. The feedstock segment includes agricultural residues, forest residues, biogas, and energy crops. The technology segment comprises combustion, gasification, co-firing, and anaerobic digestion. End-users are diversified into residential, commercial, and industrial sectors. The regional segment comprises North America, Latin America, Europe, Asia Pacific, and MEA.
Biomass Power Market Analysis By Feedstock
One of the largest and fastest-growing sectors in the global biomass power market has been biogas. Biogas is produced through the anaerobic digestion of organic materials such as animal manure, food waste, and sewage sludge. The growth of biogas-based biomass power generation has been fueled by its potential to efficiently convert waste materials into energy, addressing environmental issues associated with organic waste disposal while also providing a renewable energy source. Moreover, biogas projects often promote circular economy concepts by integrating waste management and clean energy production.
Biomass Power Market Analysis By Technology
The largest sector in the global biomass power market has been traditional biomass power generation, primarily utilizing combustion technology. This method involves burning organic materials directly to produce steam, which drives a turbine connected to an electricity generator. Traditional biomass power has been prevalent in several regions, especially in developing countries, where it is used for cooking and heating in addition to electricity generation.
However, as the market evolves, there has been a shift towards more advanced biomass technologies that offer higher efficiency and lower emissions. The fastest-growing sector in the global biomass power market has been anaerobic digestion. This technology involves the biological breakdown of organic materials, such as agricultural and food waste, in the absence of oxygen to produce biogas. Biogas, mainly composed of methane, can be used for electricity and heat generation.
Global biomass power market by end-user
To get detailed analysis on other segments, Request For Free Sample Report
Biomass Power Market Regional Insights
In North America, supportive government policies and increasing investments drove market growth, while Europe remained a leading player due to its strong emphasis on renewable energy adoption.
Asia-Pacific witnessed substantial growth potential, driven by the rapid industrialization and energy demand in countries like China and India. Latin America displayed growing interest in biomass power projects, encouraged by environmental concerns and resource availability.
In Africa, the market was gradually emerging, with countries exploring biomass's potential to address energy challenges and promote sustainable development.
Global biomass power market by geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Biomass Power Market Dynamics
Biomass Power Market Drivers
Need to Reduce Greenhouse Gas Emissions
- One driver of the global biomass power market is the increasing demand for renewable energy sources. As the world faces the challenges of climate change and seeks to reduce greenhouse gas emissions, biomass power offers a sustainable alternative to fossil fuels. Biomass, such as organic waste, agricultural residues, and wood pellets, can be converted into energy through various technologies, including combustion, gasification, and anaerobic digestion. Governments, corporations, and individuals are increasingly recognizing the importance of transitioning to cleaner energy sources, and biomass power presents a viable solution.
Biomass Power Market Restraints
Rising Competition
- A restraint facing the global biomass power market is the competition for biomass feedstock. As the demand for biomass increases, there may be conflicts between its use for power generation and other applications, such as biofuels, animal feed, and various industrial processes. This can lead to potential resource scarcity and price fluctuations, impacting the profitability and stability of biomass power projects. Effective management of biomass resources, along with sustainable cultivation and harvesting practices, will be crucial to mitigate this restraint and ensure the long-term viability of the biomass power market.
Request Free Customization of this report to help us to meet your business objectives.
Biomass Power Market Competitive Landscape
The global biomass power market is witnessing intense competition as companies strive to capitalize on the growing demand for sustainable energy sources. Key players in the industry are continuously investing in research and development to enhance biomass conversion technologies, increasing efficiency, and reducing environmental impacts. Additionally, strategic partnerships and collaborations are becoming common, allowing firms to leverage each other's expertise and market reach. Government incentives and supportive policies are further intensifying the competition. As the market continues to evolve, companies are adopting innovative business models and expanding their geographical presence to gain a competitive edge in this dynamic and promising sector.
Biomass Power Market Top Player’s Company Profiles
- Pinnacle Renewable Energy Inc. - Canada
- RWE AG - Germany
- Helius Energy plc - United Kingdom
- MVV Energie AG - Germany
- ENGIE (formerly GDF Suez) - France
- Laidlaw Energy Group (acquired by EDF Renewables) - United States
- Babcock & Wilcox Enterprises, Inc. - United States
- Ameresco, Inc. - United States
- Abengoa - Spain
- Mitsubishi Hitachi Power Systems - Japan
- Akuo Energy - France
- SIMEC Atlantis Energy - United Kingdom
- Alstom (acquired by General Electric) - France
- EDP Renováveis - Portugal
- Vattenfall AB - Sweden
- Nippon Paper Industries - Japan
- Boralex Inc. - Canada
Biomass Power Market Recent Developments
- In August 2021, Copenhagen Infrastructure Partners (CIP) and Amp Energy India Private Limited announced their agreement to work on joint ventures worth more than USD 200 million in Indian sustainable power projects.
Biomass Power Key Market Trends
- Key market trends in the global biomass power market included a growing emphasis on renewable energy sources, driving the demand for sustainable biomass power solutions. Governments and businesses were increasingly investing in biomass power projects to reduce carbon emissions and combat climate change. Technological advancements were boosting the efficiency of biomass power generation, making it more cost-effective and competitive. Additionally, collaborations between industries and research institutions were fostering innovations in biomass-to-energy conversion processes, expanding the market's potential. Overall, the global biomass power market was witnessing steady growth due to its environmentally friendly and economically viable attributes.
Biomass Power Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global biomass power market holds promising future prospects driven by increasing efforts to shift towards renewable energy sources and reduce carbon emissions. As governments worldwide continue to prioritize climate change mitigation and sustainable development, supportive policies and incentives for renewable energy adoption are expected to further boost the biomass power sector. Additionally, advancements in biomass-to-energy conversion technologies and efficient waste-to-energy processes will enhance the market's viability and scalability. Collaborations between public and private sectors, along with investments in research and development, will likely foster innovation, leading to improved biomass power generation and competitiveness. This combination of environmental concerns, policy support, technological advancements, and industry collaboration paints a positive outlook for the global biomass power market's growth and long-term sustainability.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 134.76 billion |
| Market size value in 2031 | USD 210.45 billion |
| Growth Rate | 5.73% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biomass Power Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biomass Power Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biomass Power Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biomass Power Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biomass Power Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biomass Power Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
