Global Biomass Boilers Market Projected to Grow at 13.7% CAGR, Reaching $14.38 Billion by 2029

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What Will the Biomass Boilers Industry Market Size Be by 2025?
The market size of biomass boilers has seen swift expansion in the last few years. It is forecasted to rise from $7.39 billion in 2024 to $8.61 billion in 2025, registering a compound annual growth rate (CAGR) of 16.4%. The prominent escalation in the past period can be linked to factors like energy security, environmental considerations, policies promoting renewable energy, and waste management.

What's the Long-Term Growth Forecast for the Biomass Boilers Market Size Through 2029?
The market size for biomass boilers is projected to witness a swift expansion in the coming years, escalating to a worth of $14.38 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 13.7%. The expected growth during the forecast period can be tied to initiatives for mitigating climate change, building a circular economy, achieving renewable energy objectives, and ensuring energy access and security. Key trends during the forecast period include ameliorations in efficiency, modularity, and scalability, alignment with renewable energy systems, digitalization, smart controls, and bioenergy districts.

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What Are the Key Growth Drivers Fueling the Biomass Boilers Market Expansion?
The booming need for heating alternatives based on renewable resources is predicted to fuel the expansion of the biomass boilers sector. Renewable heating alternatives encompass systems or technologies that produce heat for domestic, commercial or industrial use utilizing energy from renewable resources. Biomass boilers are favored for renewable heating as they are eco-friendly, economical, and dependable. They too aid in mitigating greenhouse gas emission, boosting energy security, and assisting the move towards a greener and sustainable energy future. For instance, a report issued by the International Energy Agency, an autonomous intergovernmental organization based in France, states that the consumption of renewable heat is set to soar by nearly a third within 2022-2027. This escalates the modern consumption of renewables in heat from 11.4% to 14% for the period of 2022-2027. Furthermore, as per the New York State Energy Research and Development Authority (NYSERDA), a Government body based in the USA, there was an elevation in the sales of heat pumps from 3.9 million units in 2021 to 4.3 million units by 2022. The escalating demand for renewable heat solutions thereby is expected to drive the growth of the biomass boilers sector.

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What Are the Key Trends Driving Biomass Boilers Market Growth?
Leading firms in the biomass boiler market are broadening their operations to fulfill the growing demand for green energy sources and the urgent need to cut down carbon emissions. Business augmentation pertains to the enhancement of a corporation's functions, undertakings, and market visibility. This typically includes magnifying operational scale, branching out to new markets, and diversifying product or service offerings. For example, ANDRITZ, a machinery industry company based in Austria, inaugurated a new biomass boiler facility at Vattenfall AB in Uppsala, Sweden, in March 2022, as part of its Carpe Futurum project. The facility provides over 110 MW of district heat to the Uppsala region and is also prepared for potential electricity generation in the future. This effort aids Vattenfall AB in realizing its ambition of achieving carbon neutrality. The plant's efficient and eco-friendly design is in sync with the escalating worldwide emphasis on sustainable energy sources and the imperative to diminish carbon emissions.

How Is the Biomass Boilers Market Segmented?
The biomass boilers market covered in this report is segmented -

1) By Type: Stoker, Bubbling Fluidized Bed, Circulating Fluidized Bed, Other Types
2) By Application: Heating, Power Generation
3) By End-Use: Residential, Commercial, Industrial

Subsegments:
1) By Stoker: Chain Grate Stoker, Dumping Grate Stoker, Other Stoker Types
2) By Bubbling Fluidized Bed: Natural Circulation, Forced Circulation
3) By Circulating Fluidized Bed: High-Temperature Circulating Fluidized Bed, Low-Temperature Circulating Fluidized Bed
4) By Other Types: Moving Bed, Batch Type

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Which Companies Are Leading the Charge in Biomass Boilers Market Innovation?
Major companies operating in the biomass boilers market are Siemens AG, General Electric Company, Alstom SA, Doosan Heavy Industries And Construction Co. Ltd., IHI Corporation, ANDRITZ AG, Thermax Limited, Harbin Electric Company Limited, Bharat Heavy Electricals Limited, Babcock And Wilcox Enterprises, Inc., Aalborg Energie Technik A/S, Hurst Boiler And Welding Co. Inc., Schmid energy solutions AG, Mitsubishi Hitachi Power Systems, Leroux and Lotz Technologies, Wood Energy Ltd, ETA Heiztechnik GmbH, Wellons Inc, Baxi Group Limited, AMEC Foster Wheeler plc, Nexterra Systems Corp., Advanced Recycling Equipment Inc, VAS Energy Systems International GmbH, LAMBION Energy Solutions GmbH, Mawera GmbH, Kohlbach Group, Jernforsen Energi System AB, Ansaldo Energia S.p.A., Energy Innovations (UK) Ltd, Lin-Ka Maskinfabrik A/S

Which Regions Are Leading the Global Biomass Boilers Market in Revenue?
Asia-Pacific was the largest region in the biomass boilers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biomass boilers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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