What Is The Current and Historic Market Size Analysis Of The Biomass Power Generation Market?
The biomass power generation market has seen considerable growth due to a variety of factors.
• In recent years, the market size of biomass power generation has seen impressive growth. From being valued at $59.72 billion in 2024, it's projected that it will expand to $63.87 billion in the year 2025, with a compound annual growth rate (CAGR) of 6.9%.
Factors such as government policies and incentives, issues related to energy security, environmental regulation, technological progress, and efforts towards waste management have contributed to the growth during the historic period.
What are the Market Size and Expected Growth Rates for the Biomass Power Generation Market?
The biomass power generation market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the biomass power generation market is projected to witness robust expansion. The market size will escalate to $78.81 billion by 2029 with a 5.4% compound annual growth rate (CAGR). This predicted growth during the forecast period can be associated with factors such as renewable energy objectives, circular economy schemes, financial motivations and subsidies, improvements in biomass conversion technologies, and a rising need for green energy solutions. The forecast period will also see key trends such as increased co-firing practices, incorporation of energy storage systems, development of decentralized biomass power generation, appearance of biomass by-products, as well as the deployment of cutting-edge control and automation systems.
Which Key Drivers Are Propelling The Biomass Power Generation Market's Growth?
The biomass power generation market is projected to expand due to government action aimed at endorsing biomass power generation. These actions involve established plans, schemes, or guidelines taken by governmental bodies to tackle particular problems, accomplish objectives, or cater to the needs of their population. Numerous governments of influential countries provide financial stimulus, like subsidies, grants, or tax deductions, to promote the inception and running of biomass power plants. These incentives serve to ease the financial stress on investors, making biomass projects more financially feasible. For example, as specified by the International Energy Agency, an independent intergovernmental organization located in France, in June 2023, the Government Energy Spending Tracker of the IEA indicated that governments have apportioned USD 1.34 trillion towards clean energy ventures, recording a growth of about 25% from 2021 to 2023. This increase outpaces that of fossil fuel investments for the equivalent period. Consequently, governmental actions aimed at promoting biomass power generation fuel the biomass power generation market.
What Are The Key Segments Within The Global Biomass Power Generation Market?
The biomass power generation market covered in this report is segmented –
1) By Feedstock: Woody Biomass, Agriculture And Forest Residues, Biogas And Energy Crops, Urban Residues, Landfill Gas (LFG) Feedstock
2) By Technology: Anaerobic Digestion, Combustion, Gasification, Co-firing And CHP, Landfill Gas (LFG)
3) By End-User: Commercial, Industrial, Residential
Subsegments:
1) By Woody Biomass: Wood Chips, Wood Pellets, Sawdust, Wood Logs, Bark
2) By Agriculture And Forest Residues: Crop Residues, Forest Residues, Agricultural Waste
3) By Biogas And Energy Crops: Biogas, Energy Crops
4) By Urban Residues: Municipal Solid Waste (MSW), Yard Waste, Paper Waste, Food Waste
5) By Landfill Gas (LFG) Feedstock: Methane from Landfill Gas
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How Are New Trends Impacting The Size Of The Biomass Power Generation Market?
Notable businesses in the biomass power generation market are leveraging strategic partnerships to secure a unique market standing. Such alliances in the biomass power generation sphere offer a multitude of advantages, enhancing the longevity and success of projects within this energy sector. For instance, in April 2023, the Japan-based trading company Marubeni Corporation entered a strategic collaboration with the Japan-based real estate firm Taisei Corporation. This partnership has led to the commencement of the Ishikari Area Biomass Power Plant's construction in Ishikari City, Hokkaido, anticipated to generate 9,950 kW of electricity. Moreover, in December 2023, Air Burners, an American firm that manufactures air curtain burner systems for biomass waste management, allied with Rolls-Royce, a prominent UK automobile company, and Volvo, a leading automotive company based in Sweden. Through this significant cooperation with Volvo and Rolls Royce, Air Burners unveiled BioCharger, a mobile device designed to convert biomass waste into energy, efficient in providing off-grid power solutions for a range of uses.
Who Are the Key Players In The Biomass Power Generation Market?
Major companies operating in the biomass power generation market are:
• E.ON SE
• ENGIE SA
• Siemens AG
• General Electric Company
• Veolia Environnement SA
• Mitsubishi Heavy Industries Ltd.
• ALSTOM Holdings
• Dalkia by EDF Group
• Drax Group PLC
• Rockwell Automation Inc.
• MVV Energie AG
• John Wood Group
• Valmet Corporation
• Alfa Laval
• Aker Solutions
• MEIDENSHA CORPORATION
• Ameresco Inc.
• Ramboll Group A/S
• Babcock & Wilcox Enterprises Inc.
• EnviTec Biogas AG
• Vattenfall AB
• WELTEC BIOPOWER GmbH
• KASAG Swiss AG
• Beltran Technologies Inc.
• Volue
What Are The Regional Insights Into The Biomass Power Generation Market?
Europe was the largest region in the biomass power generation market in 2024. The regions covered in the biomass power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
