Asia Pacific Biomass Energy Market Report and Forecast 2024-2032

Asia Pacific Biomass Energy Market Outlook

The Asia Pacific biomass energy market reached a value of about 63.46 GW in 2023. The market is further expected to grow at a CAGR of 9% in the forecast period of 2024-2032.

Rising Demand for Biogas to Augment the Biomass Energy Industry Growth

The market is segmented on the basis of type into solid biomass, liquid biomass, and biogas, among others. Out of these, biogas is considered to be growing at a rapid pace due to the growing focus on gasification technology. The gasification method converts solid biomass into gaseous fuels that are further wont to generate electricity with remaining gas used as synthesis gas in chemical industries. Gasification technology is gaining traction due to its ability to significantly reduce carbon emissions while producing a high calorific gas from a renewable source. Meanwhile, the direct biomass combustion technology occupies a significant place in the industry. Direct biomass combustion technology has relatively non-complex operations, higher reliability, and lower cost in comparison to other advanced biomass power technologies. However, its use may witness a decline as other efficient technologies come up in the market.

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China to Provide Enhanced Growth Opportunities to the Asia Pacific Biomass Energy Industry

China is the world's fastest-growing region in terms of infrastructure construction, tremendous spending, and a growing industrialisation pattern. These aspects have led to the development of several manufacturing and commercial facilities in the country, thus, resulting in increased demand for energy sources. In the Asia Pacific economy, China is constantly looking forward to growing its importance. As per the 2018 World Investment Survey, China, Hong Kong, and Singapore are the three big countries that have earned the highest FDI investments. India and Japan have a growing ability to satisfy the need for biomass energy due to the growth of the manufacturing sector and increasing chemical operations.

Biomass Energy: Market Segmentation

Bio-energy may be described as energy produced from biological and renewable sources (biomass); bio-energy can be derived in the form of heat or converted into electricity for delivery. Biomass also can be converted into biofuels, which are lightweight feedstock for use in the generation of bio-energy. Biofuels are classified as feedstock intended for the production of bio-energy, derived directly or indirectly from biomass. Biofuels can be in solid form (fuelwood, biomass, wood pellets, briquettes, and others) or liquid (bioethanol, biodiesel).

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By source, the market is categorised into:

• Wood
• Agricultural Crops and Residues
• Animal Residues
• Municipal Solid Waste and Sewage
• Others

Based on segment, the market is bifurcated into:

• Renewable
• Non-Renewable

On the basis of type, the market is divided into:

• Solid Biomass
• Liquid Biomass
• Biogas
• Others

Among these, while the solid biomass segment is subdivided into electricity and others, the liquid biomass segment is divided into ethanol, and biodiesel, among others, based on type.

By application, the market is segmented into:

• Commercial 
• Industrial 
• Others

The regional markets for the product include China, Japan, India, Australia, and South Korea, among others.

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Increasing Demand for Energy Efficiency to Bolster the Growth of the Biomass Energy Industry in the Asia Pacific 

The Asia Pacific biomass energy industry is being supported by the growth of the industrial biomass boiler industry and the growing focus on sustainable development. The Asia Pacific industrial biomass boiler market is projected to be on an up-surging trend owing to the growing adoption of biomass-based energy sources. This is due to the depleting fossil fuel supplies and increasing energy demand across countries such as China, India, and others. The adoption of biomass boilers to satisfy energy demand is one of the major factors that is leading to the development of the Asia Pacific industrial biomass boiler industry. The favourable government policies enabling thermal power plants to move from coal to cleaner fuels, such as biomass, are projected to play a crucial role in demand growth over the forecast period. Biomass produces bioenergy that is used in many end-use markets to decrease reliance on fossil fuels, mitigate greenhouse gas (GHG) emissions, and increase the reliability of the energy supply. Moreover, the decrease in coal use along with the increasing use of wood biomass for distributed electricity generation is anticipated to positively impact the industry landscape.

The developing economies are the prominent countries indulged in adopting the energy-efficient fuels, which drive the market development. The growing demand for energy-efficient fuels like biomass would also lead to the increasing acceptance of biomass energy, which in the coming era will propel the demand for biomass energy.

Key Industry Players in the Asia Pacific Biomass Energy Market

The report gives a detailed analysis of the following key players in the Asia Pacific biomass energy market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• ACCIONA Group.
• Mitsui E&S Engineering Co., Ltd 
• Hitachi Zosen Corporation 
• Anaergia Inc. 
• DP CleanTech 
• Jyoti Bio Energy Limited 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report