What Has Been the Growth of the Biomass Boilers Market So Far?
The biomass boilers market has seen considerable growth due to a variety of factors.
• In the past few years, the size of the biomass boilers market has expanded rapidly. The market, which was worth $7.39 billion in 2024, is projected to increase to $8.61 billion in 2025, representing a compound annual growth rate (CAGR) of 16.4%.
Factors such as energy security, concern for the environment, renewable energy policies, and waste management have significantly contributed to the growth witnessed in the historic period.
What Is the Forecasted Market Size and Growth Rate for The Biomass Boilers Market Size In The Coming Years?
The biomass boilers market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for biomass boilers is anticipated to experience swift growth in the upcoming years, projecting to reach $14.38 billion by 2029 with a compound annual growth rate (CAGR) of 13.7%.
The predicted growth during this forecast period can be linked to factors such as endeavors to mitigate climate change, targets for renewable energy, initiatives for circular economy, as well as energy accessibility and security. Some noticeable trends for this forecast period include enhancements in efficiency, modularity and scalability, incorporation with renewable energy systems, and advancements in digitalization and smart controls, in addition to bioenergy districts.
What Factors Are Driving Growth In The Biomass Boilers Market?
The anticipated expansion of the biomass boilers market is fueled by the increasing uptake of renewable heating solutions. These are systems or technologies that generate heat for residential, commercial, or industrial usage by leveraging renewable energy resources. Biomass boilers, proving to be environmentally amicable, economically efficient, and consistent, are employed in these heating solutions. They participate in lowering greenhouse gas emissions, strengthening energy security, and facilitating the shift towards a greener and more sustainable energy future. The International Energy Agency, an autonomous intergovernmental body based in France, reported in 2022 that consumption of renewable heat is expected to surge by nearly a third between 2022 and 2027. This increase would boost the contemporary use of renewables in heat from 11.4% to 14% within the same timeline. Moreover, data from the New York State Energy Research and Development Authority, a state-run organization in the US, indicates a rise in heat pump sales from 3.9 million units in 2021 to 4.3 million units in 2022. Consequently, the escalating demand for renewable heating systems is projected to spur the evolution of the biomass boiler market.
What Are The Main Segments Of The Global Biomass Boilers Market?
The biomass boilers market covered in this report is segmented –
1) By Type: Stoker, Bubbling Fluidized Bed, Circulating Fluidized Bed, Other Types
2) By Application: Heating, Power Generation
3) By End-Use: Residential, Commercial, Industrial
Subsegments:
1) By Stoker: Chain Grate Stoker, Dumping Grate Stoker, Other Stoker Types
2) By Bubbling Fluidized Bed: Natural Circulation, Forced Circulation
3) By Circulating Fluidized Bed: High-Temperature Circulating Fluidized Bed, Low-Temperature Circulating Fluidized Bed
4) By Other Types: Moving Bed, Batch Type
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What Emerging Trends Are Influencing The Growth Of The Biomass Boilers Market?
The leading participants in the biomass boiler market are broadening their commercial operations to cater to the escalating demand for clean energy alternatives and imperative need for carbon emission decrease. Business expansion, which is the enhancement of a corporation's functions, activities, and market visibility, generally includes scaling up operations, extending into fresh markets and diversifying products or services offerings. For example, in March 2022, ANDRITZ, a machinery industry corporation based in Austria, effectively inaugurated a new biomass boiler unit at Vattenfall AB in Uppsala, Sweden, as a part of its Carpe Futurum venture. This plant provides over 110 MW of district heat to the Uppsala region and is also ready for future electricity production. This move aids Vattenfall AB in realizing its ambition to become CO2-neutral. The plant's effective and eco-friendly architecture corresponds with the rising worldwide emphasis on renewable energy forms and the urgency to decrease carbon emissions.
Who Are the Key Players In The Biomass Boilers Market?
Major companies operating in the biomass boilers market are:
• Siemens AG
• General Electric Company
• Alstom SA
• Doosan Heavy Industries And Construction Co. Ltd.
• IHI Corporation
• ANDRITZ AG
• Thermax Limited
• Harbin Electric Company Limited
• Bharat Heavy Electricals Limited
• Babcock And Wilcox EnterprisesInc.
• Aalborg Energie Technik A/S
• Hurst Boiler And Welding Co. Inc.
• Schmid energy solutions AG
• Mitsubishi Hitachi Power Systems
• Leroux and Lotz Technologies
• Wood Energy Ltd
• ETA Heiztechnik GmbH
• Wellons Inc
• Baxi Group Limited
• AMEC Foster Wheeler plc
• Nexterra Systems Corp.
• Advanced Recycling Equipment Inc
• VAS Energy Systems International GmbH
• LAMBION Energy Solutions GmbH
• Mawera GmbH
• Kohlbach Group
• Jernforsen Energi System AB
• Ansaldo Energia S.p.A.
• Energy Innovations (UK) Ltd
• Lin-Ka Maskinfabrik A/S
What Is The Most Dominant Region In The Biomass Boilers Market?
Asia-Pacific was the largest region in the biomass boilers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biomass boilers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
