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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 Trends
Surging Environmental Consciousness to Augment the Market Growth of Biomass Power
The market is currently being driven by the abundant availability of biomass or raw material, reduced dependency on fossil fuels, absence of harmful emissions, and increased focus on the use of clean energy. The increasing environmental consciousness is driving countries across the globe to expand their renewable energy usage, which is surging the demand for biomass power. Major countries across the globe including China, Germany, the UK, and France, have announced their plans to become carbon-neutral nations in the future, which is resulting in the implementation of favourable policies and regulations that aim to reduce the consumption of coal and promoting the use of bio-based alternatives like biomass for energy generation. Furthermore, the growing demand for biomass power solutions in the generation of bioelectricity is expected to support the market growth in the forecast period. Also, another trend in the biomass power industry is the economic viability offered by biomass power solutions is anticipated to bolster their adoption in the forecast period.
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