Biomass Power Generation Market Key Players, Demands, Value, Sales, Size, Share and Forecasts to 2028

The biomass power generation market refers to the market for electricity generation using organic materials, including wood, agricultural crops, and waste materials, such as municipal solid waste and industrial waste. Biomass is considered a renewable energy source because the organic materials used for power generation can be replenished over time.

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The global biomass power generation market is estimated to grow from USD 91.3 Billion in 2023 to USD 105.7 Billion by 2028; it is expected to record a CAGR of 3.0% during the forecast period. Increase in the energy demand for in-house electricity generation from industrial sector which drives the biomass power generation market.

The market for biomass power generation is driven by several factors, including government incentives and regulations, increasing demand for renewable energy sources, and the need for energy security. In many countries, governments have introduced policies to encourage the use of renewable energy sources, including biomass, as a way to reduce greenhouse gas emissions and meet climate change targets.

The biomass power generation market is segmented by feedstock type, technology, application, and region. The feedstock type segment includes woody biomass, agriculture biomass, urban waste, and others. The technology segment includes combustion, gasification, anaerobic digestion, co-firing, and others. The application segment includes industrial, commercial, and residential. The region segment includes North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

The biomass power generation market is dominated by a few major players that have a wide regional presence. The leading players in the biomass power generation market are ENGIE (France), Babcock & Wilcox Enterprises, Inc. (US), Xcel Energy Inc. (US), EPH (Czechia) and Ørsted A/S (Denmark). These companies are focusing on expanding their product portfolios and strengthening their market position by entering into partnerships and collaborations, acquiring small players in the market, and investing in research and development activities to develop new and more efficient technologies.

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Overall, the biomass power generation market is expected to experience significant growth in the coming years, driven by increasing demand for renewable energy sources, government incentives and regulations, and the need for energy security. However, the market is also facing challenges, including high initial capital costs, supply chain management issues, and competition from other renewable energy sources.

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