Press release
Biomass Power Generation Market Poised to Hit $78.81 Billion by 2029 with Accelerating Growth Trends
Biomass Power Generation
Biomass Power Generation Market Size Growth Forecast: What to Expect by 2025?
The biomass power generation market has seen substantial expansion in the previous years. Its market size will increase from $59.72 billion in 2024 to $63.87 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to the growth during the historic period include government policies and incentives, concerns about energy security, environmental regulations, technological progress, and waste management strategies.
How Will the Biomass Power Generation Market Size Evolve and Grow by 2029?
The biomass power production market is predicted to experience significant expansion in the upcoming years, projected to reach a value of $78.81 billion by 2029, with an annual growth rate of 5.4%. The forecasted growth can be linked to goals for renewable energy, circular economy programs, economic inducements and grants, improvements in biomass conversion technology, and the rising demand for eco-friendly energy solutions. Key trends for the forecast period encompass the expansion of co-firing methods, incorporation of energy storage solutions, the development of distributed biomass power generation, the emergence of biomass byproducts, and the application of sophisticated control and automation systems.
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What Drivers Are Propelling the Growth of Biomass Power Generation Market Forward?
The expansion of the biomass power generation market is anticipated to be driven by governmental actions aimed at promoting biomass power generation. Such governmental actions typically involve formulated plans, schemes, or policies designed to address certain problems, attain objectives, or cater to the requirements of the populace. To push for the foundation and functioning of biomass power plants, ruling entities in key nations offer financial benefits such as grants, subsidies, or tax discounts. These benefits help lessen the financial pressure on investors making biomass projects financially feasible. As per the International Energy Agency, a self-governing intergovernmental organization based in France, the June 2023 revision of the IEA Government Energy Spending Tracker showed that governments have allocated USD 1.34 trillion for investments in clean energy. It depicts an upsurge of about 25% from 2021 to 2023, overtaking the increase in fossil fuel investments in the same timeframe. Hence, governmental actions supporting biomass power generation contribute to the expansion of the biomass power generation market.
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Which Emerging Trends Are Transforming the Biomass Power Generation Market in 2025?
Leading enterprises functioning in the biomass power generation industry are leveraging strategic partnerships as a means to gain an advantage in the marketplace. Collaborations within the realm of biomass power generation can offer a myriad of advantages, paving the way for successful and sustainable projects in this particular energy sector. For example, in April 2023, Marubeni Corporation, a trading firm based out of Japan, joined hands with Taisei Corporation, a real estate development firm also based in Japan. As a result of this alliance, both firms embarked on the construction of the Ishikari Area Biomass Power Plant located in Ishikari City, Hokkaido, with an anticipated power output of 9,950 kW. In another development, in December 2023, Air Burners, an American company known for manufacturing air curtain burner systems for biomass waste disposal, formed a strategic alliance with Rolls-Royce, a prestigious UK-based automobile manufacturer, and Volvo, a Swedish automotive company. With this planned collaboration with Volvo and Rolls Royce, Air Burners manufactured BioCharger, a mobile unit that converts biomass waste into energy. It has been engineered to effectively transform biomass waste into energy, offering off-grid power solutions for a variety of purposes.
What Are the Key Segments in the Biomass Power Generation Market?
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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Who Are the Key Players Shaping the Biomass Power Generation Market's 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
What Geographic Markets Are Powering Growth 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.
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