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Report Overview
The global biomass power market grew at a CAGR of around 8.00% during the forecast period of 2024-2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- In 2020, bioenergy dominated renewable heat production, supplying 96% of the total, underpinning its critical role in delivering renewable thermal energy globally.
- Geothermal energy supplied 4% of renewable heat, reflecting its more limited but stable role in countries and regions where accessible geothermal resources are available.
- Solar thermal energy supplied only 0.22%, indicating a very minor contribution to global renewable heat production despite remaining as a viable technology in specific applications, thereby supporting the growth of biomass power market.
Biomass Power Market Competitive Landscape
Major companies in the biomass power market have been investing in advanced technological innovations, increasing their operational capacities by growing their units, increasing their efficiency rates, and forming strategic partnerships to scale up their production capacities toward setting new records on the ground of increasing demands for renewable energies.
Vattenfall Group is another one of the independent companies established in 1909 and headquartered in Stockholm, Sweden. The company is one of the big players in the biomass power sector due to the added contribution from co-firing biomass with coal and further developments in the field of dedicated biomass power plants. Vattenfall is working on sustainable biomass solutions using wood pellets and agricultural residues to reduce carbon emissions, hence paving the way for renewable energy.
Babcock & Wilcox Enterprises Inc., a biomasse power technology company based in Akron, Ohio and was founded in 1867, comprises a team of engineers leading-edge biomass power technologies that make the production of greener and more sustainable energy possible. Babcock & Wilcox presents solutions such as its biomass boilers, gasifiers, and combustion systems, which are designed to turn a wide variety of biomass feedstocks into energy. Babcock & Wilcox focuses on improvement in the efficiency and reliability of biomass power plants through better engineering and innovative technology.
Ameresco, Inc., a Framingham, Massachusetts-based company, founded in the year 2000, designs and constructs, while also operating biomass power systems as part of the different biomass energy solutions it has on offer. The firm thus stresses more on renewable development projects and furthering energy efficiency by having sustainable, proficient biomass technologies. This means the production of renewable energy and provision of energy efficiency through anaerobic digestion and combustion systems.
Other key players profiled in the global biomass power market report are Ørsted A/S, Ramboll Group A/S, and Mitsubishi Heavy Industries, Ltd., among others.
Biomass Power Market Report Snapshots
Biomass Power Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The biomass power market grew at a CAGR of 8.00% between 2024 and 2032.
The major drivers of the industry, such as abundant availability of biomass or raw material, rising awareness of the alternative fuel, reduced dependency on fossil fuels, absence of harmful emissions, and increasing focus on use of clean energy, are expected to aid the market growth.
The key market trends guiding the industry growth include the rising competition and ongoing R&D activities.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Europe accounting for the largest share in the market.
The major sources of the product in the industry are solid biomass, biogas, municipal waste, and liquid biomass.
The leading end use sector of the product is the industrial sector.
The major players in the industry are Vattenfall Group., Babcock & Wilcox Enterprises, Inc., Ameresco, Inc., Ørsted A/S, Ramboll Group A/S, Mitsubishi Heavy Industries, Ltd., and others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124