Biomass Boilers Global Market Report 2024 - By Growth, Share, Size, Demand And Analysis, Forecast To 2033

The biomass boilers market size has grown rapidly in recent years. It will grow from $6.35 billion in 2023 to $7.39 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to energy security, environmental concerns, renewable energy policies, waste management.

The biomass boilers market size is expected to see rapid growth in the next few years. It will grow to $12.70 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to climate change mitigation, renewable energy targets, circular economy initiatives, energy access and security. Major trends in the forecast period include efficiency improvements, modularity and scalability, integration with renewable energy systems, digitalization and smart controls, bioenergy districts.

Market Overview -
A biomass boiler refers to a type of boiler that uses organic materials, such as wood pellets, wood chips, agricultural residues, or other biomass resources, as fuel to generate heat or electricity. These boilers are designed to burn biomass efficiently, providing a renewable and sustainable alternative to fossil fuels. Biomass boilers can be used for heating homes, businesses, or industrial processes, and they play a role in reducing greenhouse gas emissions by utilizing carbon-neutral fuel sources.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=14057&type=smp

Biomass Boilers Market Poised For Growth Amid Rising Demand For Renewable Heating Solutions
The growing demand for renewable heating solutions is expected to propel the growth of the biomass boilers market going forward. Renewable heating solutions refer to systems or technologies that utilize energy sources derived from renewable resources to generate heat for residential, commercial, or industrial purposes. Biomass boilers are used for renewable heating solutions because they are environmentally friendly, cost-effective, and stable. They also help reduce greenhouse gas emissions, improve energy security, and support the transition to a cleaner, more sustainable energy future. For instance, in 2022, according to reports published by the International Energy Agency, a France-based autonomous intergovernmental organization, renewable heat consumption is predicted to increase by almost one-third during 2022-2027, bringing the modern use of renewables in heat from 11.4% to 14% by 2022-2027. Further, according to the New York State Energy Research and Development Authority (NYSERDA), a US-based government organization, heat pump sales increased by 3.9 million units in 2021 to 4.3 million units by 2022. Therefore, the growing demand for renewable heating solutions is expected to propel the growth of the biomass boiler market.

Competitive Landscape -
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 Enterprises, Inc., 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

Expansion Initiatives In The Biomass Boilers Market
Major companies operating in the biomass boiler market are expanding their businesses to meet the increasing demand for renewable energy sources and the growing need to reduce carbon emissions. Business expansion refers to the growth of a company's operations, activities, and market presence. It typically involves increasing the scale of operations, expanding into new markets, and diversifying products or services. For instance, in March 2022, ANDRITZ, an Austria-based machinery industry company, successfully launched a new biomass boiler plant at Vattenfall AB in Uppsala, Sweden, for its Carpe Futurum project. The plant supplies more than 110 MW of district heat to the Uppsala area and is also prepared for electricity production at a later stage. This initiative helps Vattenfall AB achieve its goal of becoming CO2-neutral. Its efficient and environmentally friendly design aligns with the increasing global focus on renewable energy sources and the need to reduce carbon emissions.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/biomass-boilers-global-market-report

Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model"

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.