Biomass Power Generation Global Market Analysis, Trends, Growth, Research And Forecast 2033

The biomass power generation market size has grown strongly in recent years. It will grow from $55.79 billion in 2023 to $59.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to government policies and incentives, energy security concerns, environmental regulations, technological advancements, waste management initiatives.

The biomass power generation market size is expected to see strong growth in the next few years. It will grow to $74.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to renewable energy targets, circular economy initiatives, economic incentives and subsidies, advancements in biomass conversion technologies, increasing demand for sustainable energy solutions. Major trends in the forecast period include expansion of co-firing practices, integration of energy storage solutions, growth of distributed biomass power generation, emergence of biomass co-products, adoption of advanced control and automation systems.

Market Overview -
Biomass electricity generation involves converting organic materials such as wood, agricultural residues, or organic waste into electricity. This renewable energy method includes burning biomass to produce steam, which then powers turbines connected to generators, generating electricity. It helps reduce greenhouse gas emissions and dependence on fossil fuels while using organic materials that can be sustainably replenished.

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Government Initiatives Catalysts For Growth In Biomass Power Generation
Government initiatives for biomass power generation are expected to propel the growth of the biomass power generation market. Government initiatives refer to planned actions, programs, or policies undertaken by a government to address specific issues, achieve goals, or respond to the needs of its citizens. Governments from major countries offer financial incentives, such as grants, subsidies, or tax credits, to encourage the establishment and operation of biomass power plants. These incentives help reduce the financial burden on investors and make biomass projects more economically viable. For instance, in November 2021, the Australian Renewable Energy Agency, an Australia-based government agency, invested in bioenergy projects with a total project value of over $1.2 billion. The Australian Government's Powering Australia plan aims to create jobs, reduce pressure on energy bills, and reduce emissions by boosting renewable energy. Therefore, government initiatives for biomass power generation drive the biomass power generation market.

Competitive Landscape -
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

Strategic Collaborations Fueling Growth Major Companies' Partnership Approach In Biomass Power Generation
Major companies operating in the biomass power generation market are adopting a strategic partnership approach to gain a competitive edge in the market. Partnerships in biomass power generation can yield numerous benefits, contributing to the success and sustainability of projects in this biomass power generation energy sector. For instance, in April 2023, Marubeni Corporation, a Japan-based trading company, partnered with Taisei Corporation, a Japan-based real estate development company. With this partnership, both companies have begun constructing the Ishikari Area Biomass Power Plant in Ishikari City, Hokkaido, expected to produce 9,950 kW of power. Furthermore, in December 2023, Air Burners, a US-based company specializing in manufacturing air curtain burner systems for biomass waste disposal, partnered with Rolls-Royce, a UK-based luxury automobile maker, and Volvo, a Swedish-based automotive company. With this strategic collaboration with Volvo and Rolls Royce, Air Burners developed BioCharger, a portable machine that turns biomass waste into energy. It is designed to efficiently convert biomass waste into energy, providing off-grid power solutions for various applications.

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Key Segments -

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

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

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