Biomass Power Generation Market Poised for 5.4 % Growth, Set to Hit 14.38 Billion by 2029

How Is the Biomass Power Generation Market Projected to Grow, and What Is Its Market Size?
The biomass power generation market has also seen strong expansion in recent years. It is projected to rise from $59.72 billion in 2024 to $63.87 billion in 2025, recording a CAGR of 6.9%. The historical growth of this market was influenced by government incentives, energy security considerations, environmental regulations, technological progress, and waste management programs.

The biomass power generation market is expected to grow to $78.81 billion by 2029 with a CAGR of 5.4%. The growth is attributed to renewable energy targets, economic incentives, and advancements in biomass conversion technologies. Trends include expansion of co-firing practices, energy storage integration, growth in distributed power generation, biomass co-products, and adoption of advanced automation systems.

What Are the Key Drivers Behind the Growth of the Biomass Power Generation Market?
Government initiatives promoting biomass power generation are expected to accelerate the growth of the biomass power generation market. These initiatives involve policies, actions, or programs undertaken by governments to address specific issues or achieve goals. Major countries offer financial incentives, such as grants or tax credits, to encourage the development of biomass power plants, making them more economically viable. For example, the International Energy Agency (IEA) reported in June 2023 that governments have allocated $1.34 trillion for clean energy investments, marking a nearly 25% increase from 2021 to 2023, surpassing fossil fuel investment growth during the same period. These initiatives are driving the biomass power generation market.

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Who Are the Major Industry Players Fueling Biomass Power Generation Market Expansion?
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

Which Key Developments Are Influencing the Biomass Power Generation Market?
In the biomass power generation market, companies are forming strategic partnerships to strengthen their market presence. Marubeni Corporation of Japan partnered with Taisei Corporation in April 2023 to construct the Ishikari Area Biomass Power Plant, expected to produce 9,950 kW of power. Meanwhile, Air Burners formed collaborations with Rolls-Royce and Volvo to develop BioCharger, a portable machine that converts biomass waste into energy.

How Is the Segmentation of the Biomass Power Generation Market Defined?
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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What Is the Leading Region in 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.

What Is Covered In The Biomass Power Generation Global Market Report?

- Market Size Analysis: Analyze the Biomass Power Generation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Biomass Power Generation 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 Power Generation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Biomass Power Generation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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