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Industrial Biomass Boiler Market is Projected to Reach US$ 193.1 Bn by 2025
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Improvement in yielding capacity and proper selection of transformation and separation processes could also prove effective in quality improvement and cost reduction of products, allowing companies to have an upper hand over competitors. Suppliers of biomass in serving the industrial biomass boilers market could benefit from optimization of transportation to improve their profit margins, suggests TMR.
TMR estimates that the global industrial biomass boiler market, which held an opportunity of US$68.2 bn in 2015, will expand at an impressive 11.1% CAGR from 2016 to 2025, rising to a valuation of US$68.2 bn in 2015.
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Europe Market for Industrial Biomass Boilers Market to Continue its Bullish Run
Of the key applications of industrial biomass boilers examined in the report, including pulp and paper industry, power generation, combined heat and power (CHP) production, and brewery industry, the segment CHP presently holds the maximum share in cumulative revenue of the global market. The segment accounted for a promising 24% of the overall market in 2015 and is likely to hold on to its top post, chiefly owing to its high energy efficiency level of as much as 80%.
In terms of geography, the market for industrial biomass boilers in Europe is overshadowing other the growth of the market in other prominent regions. The region, chiefly on account of its ambitious emission reduction plans, has instigated bullish rules and regulations aimed at curbing pollution-inducing operations and activities and encouraging the increased use of bio-based energy products at industrial level. Although North America beat the Europe industrial biomass boilers market in terms of installed biomass boilers capacity in 2015, the latter is expected to emerge as the most promising grounds for investment, charting an impressive 16.9% CAGR through 2015-2023 in terms of valuation.
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Fiscal Incentives and Feed-in Tariffs by Governments Bolstering Adoption of Industrial Biomass Boilers
A number of factors are fusing together, forming veritable grounds for the promising development of the global industrial biomass boilers market. These include the high rate of economic and industrial development, especially in several developing regions, and the increased concern regarding the polluting nature of industrial boilers powered by fossil fuels. Such conventionally powered industrial boilers being a key propeller of environmentally harmful gases such as CO2, government bodies are increasingly encouraging the increases use of bio-based power sources to ramp up their environment-friendliness quotient.
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About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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