Biomass Power Market Current Scenario and Industry Analysis: Revenue, Size, Share, and Forecast to 2032 | Mitsubishi Heavy Industries, Ltd., Suez, Xcel Energy Inc.

The biomass power industry has garnered substantial attention as countries intensify efforts toward renewable energy adoption and carbon neutrality. Accelerated technological advancements alongside stringent environmental regulations are fueling demand for sustainable power generation solutions. In recent years, biomass power has transitioned from niche usage to a mainstream energy source, capitalizing on vast organic waste resources and agricultural residues. The Global Biomass Power Market size is estimated to be valued at USD 146.58 billion in 2025 and is expected to reach USD 211.96 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2025 to 2032. This robust market growth is indicative of expanding investment, emerging market opportunities, and evolving market dynamics across regions.

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➤Actionable Insights

● Supply-side indicators such as capacity expansions have witnessed double-digit growth in manufacturing biomass power plants in China and India during 2024, increasing production capacity by over 12%.
● Pricing fluctuations in biomass feedstocks, such as wood pellets and agricultural residues, saw a 4.8% decline globally in 2025 due to improved logistics and increased supply efficiency, boosting market accessibility.
● Imports of biomass pellets rose markedly in Europe, with the UK increasing imports by 15% in 2024 to supplement domestic energy demands, contributing positively to market revenue.
● Diverse use cases span from industrial heat generation to grid electricity supply with industrial cogeneration units growing 11% in deployment throughout 2025, reflecting widening end-user applications.
● Nano-level indicators include technological shifts towards torrefaction and pyrolysis techniques which enhanced energy conversion efficiency by up to 7% in pilot projects completed in the U.S. in 2024. These micro-level innovations are crucial market drivers.

❖Market segment and regional coverage

○ Comprehensive Segmentation and Classification of the Report:
» By Feedstock: Wood Biomass, Agricultural Residues, Energy Crops, Animal Waste, and Others
» By Technology: Combustion, Gasification, Anaerobic Digestion, and Others
» By Application: Industrial Power, Commercial Power, Residential Power, and Others

○ Regional and Country Analysis:
» North America: U.S. and Canada
» Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
» Europe: Germany, U.K., Spain, France, Italy, Benelux, Denmark, Norway, Sweden, Russia, and Rest of Europe
» Asia Pacific: China, Taiwan, India, Japan, South Korea, Indonesia, Malaysia, Philippines, Singapore, Australia, and Rest of Asia Pacific
» Middle East & Africa: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Israel, South Africa, North Africa, Central Africa, and Rest of MEA

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✔Key players
» Mitsubishi Heavy Industries, Ltd.
» Suez
» Xcel Energy Inc.
» Ramboll Group A/S
» Babcock & Wilcox Enterprises, Inc.
» Orsted A/S
» Ameresco
» General Electric
» Veolia
» Vattenfall
» Dalkia
» EnviTec Biogas AG
» Weltec Biopower GMBH
» Drax Group PLC (UK)
» Enviva LP
» Sodra
» MVV Energie AG
» Helius Energy PLC
» Alstom SA
» Vattenfall AB

» Recent strategic moves include Mitsubishi Heavy Industries increasing their biomass plant manufacturing capacity by 20% in 2024, resulting in a 15% year-over-year order growth. Similarly, Orsted A/S focused on expanding partnerships in Southeast Asia, achieving a project pipeline expansion valued at USD 300 million in early 2025. Such strategies highlight intensified competitive positioning and diversification initiatives among key market companies.

➤Growth factors

✓ Escalating government mandates on renewable portfolio standards, such as the U.S. Renewable Electricity Standard targeting 45% renewable generation by 2030, stimulate market growth.
✓ Increasing biomass power plant installations, which rose 10% globally in 2024, driven by advancements in gasification technology delivering higher efficiency and lower emissions.
✓ Rising market revenue in Asia Pacific, especially China and India, propelled by agricultural residue utilization due to abundant feedstock availability and favorable subsidy schemes.

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❖ Market trends

⇨ Adoption of advanced biomass gasification coupled with carbon capture and storage (CCS) technologies has gained momentum, with pilot projects demonstrating 20% improved carbon footprint reduction in 2025.
⇨ Emergence of co-firing biomass with coal in thermal plants is reshaping energy portfolios, with European nations increasing biomass co-firing rates by an average of 8% from 2024.
⇨ Digitalization and IoT integration for predictive maintenance in biomass power plants are driving operational efficiencies and reducing downtime by up to 10% as observed across select U.S.-based plants in 2025.

✒Key takeaways

→ Feedstock segment dominance: Wood biomass remains a key subsegment due to its abundance and established supply chains.
→ Technology segment focus: Combustion technology is leading due to lower capital costs and mature infrastructure.
→ Application segment trend: Industrial power applications exhibit rapid adoption owing to continuous high energy demands.
→ Regional focus: Asia Pacific is an insightful region fueled by strong biomass feedstock availability and government incentives.
→ Regional impact: Europe is evolving with significant investments in sustainable biomass upgrades to meet climate goals.
→ Regional dynamics: North America progresses steadily with increasing biomass co-firing initiatives in coal plants boosting the market scope.

❓ Frequently Asked Questions

1. Who are the dominant players in the Biomass Power market?
- The market features influential companies like Mitsubishi Heavy Industries, Orsted A/S, General Electric, and Vattenfall AB, which employ capacity expansions and innovative partnerships as their growth strategies.

2. What will be the size of the Biomass Power market in the coming years?
- Biomass Power market size is projected to reach USD 211.96 billion by 2032, growing at a CAGR of 5.4% from 2025 to 2032, highlighting significant business growth potential.

3. Which end users industry has the largest growth opportunity?
- The industrial power application segment holds the largest growth opportunity due to continuous demand and adoption of advanced biomass technologies for sustainable energy production.

4. How will market development trends evolve over the next five years?
- Market trends indicate increased integration of biomass gasification with carbon capture, enhanced biomass co-firing in coal plants, and digitalization driving operational efficiencies.

5. What is the nature of the competitive landscape and challenges in the Biomass Power market?
- The competitive landscape is characterized by capacity expansions, technology innovations, and regional diversification, while challenges include feedstock price volatility and logistical constraints.

6. What go-to-market strategies are commonly adopted in the Biomass Power market?
- Leading market players focus on capacity scaling, strategic partnerships, project pipeline expansion, and technology upgrades to maintain industry share and drive market revenue growth.

✍️ Author of this marketing PR:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.

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