Biomass Power Generation Market Poised for 5.4 % Growth, Set to Hit $78.81 Billion by 2029

Which drivers are expected to have the greatest impact on the over the biomass power generation market's growth?
The biomass power generation market is predicted to grow due to government interventions to promote biomass power production. These government initiatives include strategically planned programs, policies, or actions intended to address particular issues, accomplish desired outcomes, and meet the demands of their inhabitants. Governments of many developed nations provide economic incentives such as grants, subsidies, or tax credits to stimulate the establishment and functioning of biomass power installations. These benefits help to alleviate the financial strain on investors, rendering biomass projects more financially attractive. For example, in June 2023, the International Energy Agency, an autonomous intergovernmental organisation based in France, reported in its June 2023 update of the IEA Government Energy Spending Tracker that governments have set aside USD 1.34 trillion for clean energy investments. This allocation marks a nearly 25% increase from 2021 to 2023, outpacing the growth of fossil fuel investments over the same timeframe. As a result, government efforts towards biomass power generation become a driving factor for the growth of the biomass power generation market.

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What is the future CAGR of the biomass power generation market, and how will it impact industry expansion?
The market size of biomass power generation has witnessed substantial growth in the past few years. It is projected to increase from $59.72 billion in 2024 to $63.87 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. The key factors driving the growth in the historic period include governmental policies and incentives, concerns about energy security, environmental regulations, advancements in technology, and initiatives towards waste management.

The market for biomass power generation is predicted to witness robust growth in the coming years, reaching a size of $78.81 billion by 2029 with a 5.4% compound annual growth rate (CAGR). The expected growth during the forecast period can be linked to various factors such as circular economy initiatives, renewable energy targets, economic incentives, government subsidies, developments in biomass conversion technologies, and a growing demand for eco-friendly energy solutions. The forecast period will also likely see the rise of several poplar trends including the expansion of co-firing practices, the integration of energy storage solutions, the rise of distributed biomass power generation, the emergence of biomass co-products, and the adoption of advanced control and automation systems.

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How are the latest trends influencing the growth of the biomass power generation market?
Big enterprises active in the biomass power generation sector are utilizing strategic partnerships to carve out a competitive edge in the market. Project success and sustainability in this energy sector can be significantly boosted by such collaborations. For example, in April 2023, Japanese trading giant Marubeni Corporation teamed up with Taisei Corporation, which specializes in real estate development, also based in Japan. This alliance has led to the commencement of construction on the Ishikari Area Biomass Power Plant in Ishikari City, Hokkaido, with the projected power output being 9,950 kW. Moving on to December 2023, Air Burners - a US company with specialization in air curtain burner systems for biomass waste disposal, joined forces with UK luxury car manufacturer Rolls-Royce, and Volvo, an automotive corporation based in Sweden. This tactical cooperation with Volvo and Rolls Royce allowed Air Burners to engineer BioCharger - a mobile unit for converting biomass waste to energy. This machine is devised to convert biomass waste into energy efficiently, offering off-grid power solutions for a multitude of applications.

Which key market segments comprise the biomass power generation market and drive its revenue growth?
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 regions are at the forefront of biomass power generation market expansion?
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.

Who are the leading players fueling growth in the biomass power generation market?
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

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

• Market Size Forecast: Examine the biomass power generation market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the biomass power generation market for a structured understanding.
• Key Players Overview: Analyze major players in the biomass power generation market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the biomass power generation market.
• Segment Contributions: Evaluate how different segments drive overall growth in the biomass power generation market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the biomass power generation market.
• Industry Challenges: Identify potential risks and obstacles affecting the biomass power generation market.
• Competitive Landscape: Review strategic developments in the biomass power generation market, including expansions, agreements, and new product launches.

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