Biomass Electricity Market: Projected Growth, Driving Forces, Key Trends, and Market Players

Steered by Government Initiatives, The Biomass Electricity Market Size Promises Exponential Growth Through 2029

What Is The Projected Market Size Of The Global Biomass Electricity Market And Its Growth Rate?

• The biomass electricity market size was valued at $56.53 billion in 2024, it is expected to grow to $60.39 billion in 2025 at a CAGR of 6.8%.
• The strong growth in recent years can be attributed to the rise in emerging markets, government incentives, low-interest rates, and the environmental impact of traditional power sources.
• The biomass electricity market size is projected to reach $75.71 billion in 2029 at a CAGR of 5.8%.
• The key drivers for this growth include global population growth and urbanization, increasing investment for renewable power generation, focus on reducing dependency on foreign oil, and exploration of alternative power generation sources.

What Is Driving The Growth In The Biomass Electricity Market?

The proliferation of government policies and subsidies designed to support sustainable power generation are key growth drivers for the biomass electricity market. These government-backed initiatives are a reaction to the mounting concerns over climate change and escalating levels of greenhouse gases resulting from traditional fossil fuel consumption. An example of this is India's Ministry of new and renewable energy which, through its National Biogas and Manure Management Programme (NBMMP), provides subsidies for setting up biogas plants for the rural and semi-urban population. This initiative, implemented by State Nodal Departments/Agencies, KVIC, and BDTCs, provides up to Rs. 17,000 ($230) in subsidies for setting up biogas plants.

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Who Are The Key Players Driving Biomass Electricity Market Growth?

• Drax Group
• EPH
• Engie
• EDF
• Iberdrola
• Acciona SA
• RWE
• Ørsted A/S
• CEZ
• Babcock and Wilcox

What Are The Key Trends In The Biomass Electricity Market?

• The adoption of bioenergy carbon capture and storage processes to reduce emissions.
• Transitioning conventional boilers to increase efficiency and reduce carbon emissions.
• Adoption of anaerobic digestion plants to reduce emissions.
• Innovation and investment in new waste-to-energy technologies,
• Focus on offering services through digital marketplaces and investing in artificial intelligence technologies for enhancing biomass preprocessing.

What Are The Segments Of The Global Biomass Electricity Market?

1) Feedstock: Solid Biomass, Biogas, Municipal Solid Waste, Liquid Biomass
2) Technology: Anaerobic Digestion, Combustion, Co-Firing, Gasification, Landfill Gas
3) End-User: Households, Industrial Sector, Government Sector, Other End Users

Which Region Leads The Biomass Electricity Market?

Western Europe led the biomass electricity market in 2024 with Asia-Pacific taking second place. The other regions reported in the biomass electricity market include Eastern Europe, North America, South America, Middle East, and Africa.

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What Is Covered In The Biomass Electricity Market Global Market Report?

- Market Size Analysis: Analyze the Biomass Electricity Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Biomass Electricity Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Biomass Electricity Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Biomass Electricity Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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