Biomass Power Generation Market [2028] by Share, Trends, Forecast

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 68.42 Billion
CAGR (2023-2028)	4.97%
Fastest Growing Segment	Industrial
Largest Market	Asia Pacific

Global biomass power generation market is expected to grow at 4.97% CAGR during the forecast period, 2024-2028, the industry has expanded because of countries' increased use of renewable energy in their power mixes because of growing environmental concerns. Many governments have made renewable energy objectives public and expect to one day become carbon-neutral states. Additionally, the industry is driven by increased adoption brought on by favourable laws and regulations.

Advancements in Biomass Power Generation Techniques will Drive the Market Growth

Advancements in biomass power generation techniques have revolutionized the utilization of organic matter as a renewable energy source. These developments have significantly improved the efficiency, sustainability, and environmental impact of biomass power generation. One notable advancement is the introduction of advanced combustion technologies such as fluidized bed combustion and biomass gasification. These techniques allow for the efficient combustion of a wide range of biomass feedstocks, including agricultural residues, forestry waste, and energy crops. They enhance fuel efficiency and reduce emissions of greenhouse gases and air pollutants, making biomass power generation a cleaner alternative to fossil fuels. These advantages propelled the market growth in the forecast period.

Furthermore, the concept of co-firing biomass with coal in existing power plants has gained traction. This approach enables a gradual transition from coal to renewable energy sources, as biomass can be readily mixed with coal during combustion. Additionally, combined heat and power systems have been implemented, which not only generate electricity but also captures and utilizes waste heat for heating and other industrial processes, maximizing energy efficiency.

Some other advancements include the development of anaerobic digestion systems, where organic waste is broken down by microorganisms to produce biogas, a valuable source of renewable energy. Pyrolysis and torrefaction processes have also emerged, converting biomass into biochar, bio-oil, and syngas. These products can be used for heat and power generation, as well as to produce biofuels. Additionally, people are continually exploring new conversion technologies such as hydrothermal carbonization, algae-based biofuels, and microbial fuel cells to further enhance the efficiency and sustainability of biomass power generation. Overall, these advancements have expanded the range of biomass feedstocks, improved energy conversion efficiency, and reduced environmental impacts, making biomass power generation a vital component of the global renewable energy transition.

Reduction in Dependency on Fossil Fuels Fuelling the Market Growth

Over the past few decades, there has been a growing recognition of the need to reduce dependency on fossil fuels and transition towards more sustainable energy sources. The utilization of biomass offers several benefits in terms of reducing reliance on fossil fuels. Firstly, biomass is a renewable resource as it can be continuously grown and harvested. Unlike fossil fuels, which take millions of years to form, biomass can be replenished relatively quickly through sustainable practices, and biomass energy production can contribute to a significant reduction in greenhouse gas emissions. While the combustion of biomass does release carbon dioxide, the plants used for biomass capture CO2 from the atmosphere during their growth, creating a carbon-neutral cycle. Moreover, biomass can replace fossil fuels in various sectors, including power generation, heating, and transportation, thereby reducing overall emissions.

Furthermore, biomass provides economic opportunities by promoting local agricultural and forestry industries, creating jobs, and improving energy security by diversifying the energy mix. However, it's essential to ensure sustainable biomass production to avoid negative environmental impacts, such as deforestation or the use of food crops for energy production. Due to all these above-mentioned factors, biomass has the potential to play a significant role in reducing our dependency on fossil fuels. By harnessing this renewable resource, industries can achieve cleaner energy generation, mitigate climate change, and promote sustainable development.

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Government-Led Initiatives to Boost Bioenergy Production to Encourage the Market Growth

The development of bioenergy has been significantly influenced by government policies and programmes. Between 2006 and 2021, 62 national-level laws and policies in China were crucial to the development of the biomass energy sector in nation. "13th Five-Year Plan for Biomass Energy Development" of 2016, and the "Biomass Power Generation Project Construction Work Plan" was released in August 2021 in collaboration with the National Development and Reform Commission, Ministry of Finance, and National Energy Administration. The municipal and federal governments provided USD 3.5 billion in funding to boost biomass power generation.

Global warming is being caused by dangerous greenhouse gases that have been generated due to increased carbon emissions from traditional fossil fuels. The key environmental concern driving the global market for biomass electricity is global warming. European nations like the UK, Germany, and Finland are attempting to phase out coal-based power generation in favour of biomass power as a substitute in response to growing environmental concerns. China, India, are just a few of the Asian nations that are converting to cleaner and more effective energy sources. Additionally, government initiatives and programmes like Feed-in-Tariff (FiT) emphasise the lowering of rates. During the predicted period, these variables will simultaneously support the expansion of the biomass power sector.

Presence of Alternative Renewable Energy Sources to Restraining the Market Growth

The biomass market has witnessed significant growth in recent years as a renewable energy source. However, the presence and increasing adoption of alternative renewable energy sources pose challenges to its continued growth and market share.

One of the primary alternative energy sources affecting the biomass market is solar power. The declining costs of solar photovoltaic (PV) systems and the widespread availability of sunlight in many regions have made solar power an attractive option for electricity generation. Solar energy offers the advantage of scalability, as installations can range from small residential systems to large-scale solar farms. This widespread adoption of solar power reduces the demand for biomass-generated electricity.

Similarly, wind power has emerged as another formidable competitor to biomass. Advances in wind turbine technology, along with favourable wind resources in various locations, have made wind power an increasingly cost-effective and reliable renewable energy option. Large-scale wind farms can generate substantial amounts of electricity, further reducing the demand for biomass-generated power.

Moreover, the development of advanced energy storage technologies, such as lithium-ion batteries, has enhanced the intermittent nature of solar and wind power. This allows for the storage of excess electricity generated during peak production periods, addressing one of the challenges of renewable energy sources. With improved storage capabilities, solar and wind power can provide more reliable and consistent electricity supply, potentially diminishing the need for biomass power plants as a baseload energy source. While biomass remains a valuable renewable energy source, the presence of alternative options such as solar power, wind power, and advanced energy storage technologies poses challenges to its market growth. Continued advancements in these alternative energy sources, along with supportive policies, will likely shape the future of the renewable energy market and influence the relative market share of biomass power generation market.

Recent Developments

In November 2022, to build and operate a new thermal energy production plant from sustainable forestry in Roselló, a company specialized in the production of paper for the construction and packaging industries,s (Lleida), ENGIE and the paper recycling specialist Alier signed an agreement. Due to this plant, the demand of biomass power generation is growing.
Valmet, an international developer and supplier of technologies, automation and services for the pulp, paper and energy industries, and Salzburg AG signed an agreement in March 2021. For the BioPower plant, which uses biomass to generate power in Austria, Salzbrug AG placed a Valmet order.
A Memorandum of Understanding (MoU) to explore methods to support the development of carbon capture and storage at biomass-fired heat and power plants in Denmark was signed by rsted, Aker Carbon Capture, and Microsoft in March 2021.
China's biomass industry produced 24.5 billion kWh of electricity in the first quarter of 2019, representing a rise of 16.7% compared to the same period in 2018.
After switching to biomass in April 2019, which reduces CO2 emissions by 50,000 tonnes annually, Dutch Health and Nutrition Company Royal DSM has cut CO2 emissions from its plant in Sisseln, Switzerland.

Market Segmentation

Global biomass power generation market is segmented based on technology, feedstock, end-user, fuel type, and region. Based on technology, the market is divided into combustion, pyrolysis, gasification, anaerobic digestion, landfill gas (LFG), and others. Based on feedstock, the market is divided into urban residue, municipal solid waste (msw), agricultural and forest residue, energy crops, woody biomass, and others. Based on end-user, the market is divided into industrial, residential & commercial, and utilities. Based on fuel type, the market is divided into solid, liquid, and gaseous. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, and Middle East & Africa.

Market player

Major market players in the global biomass power generation market are Mitsubishi Power Ltd., Suez SA, Xcel Energy Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises, Inc., Orsted A/S, Ameresco Inc, General Electric Company, Veolia Environment S.A., and Vattenfall AB.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, company share, growth factors, and trends
Segments Covered	Technology Feedstock End-User Fuel Type Region
Regional Scope	North America, Asia-Pacific, Europe, South America, Middle East & Africa
Country Scope	United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Spain, Italy, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE
Key Companies Profiled	Mitsubishi Power Ltd., Suez SA, Xcel Energy Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises, Inc., Orsted A/S, Ameresco Inc, General Electric Company, Veolia Environnement S.A., Vattenfall AB.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, the global biomass power generation market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

· Biomass Power Generation Market, By Solution Technology:

o Combustion

o Pyrolysis

o Gasification

o Anaerobic Digestion

o Landfill gas (LFG)

o Others

· Biomass Power Generation Market, By Feedstock:

o Urban residue

o Municipal Solid Waste (MSW)

o Agricultural and forest residue

o Energy crops

o Woody biomass

o Others

· Biomass Power Generation Market, By End-User:

o Industrial

o Residential & Commercial

o Utilities

· Biomass Power Generation Market, By Fuel:

o Solid

o Liquid

o Gaseous

· Biomass Power Generation Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Australia

o Europe

§ Germany

§ United Kingdom

§ France

§ Spain

§ Italy

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East

§ Saudi Arabia

§ South Africa

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global biomass power generation market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

· Detailed analysis and profiling of additional market players (up to five).

Global biomass power generation market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Service Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Biomass Power Generation Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Technology (Combustion, Pyrolysis, Gasification, Anaerobic Digestion, Landfill gas (LFG), Others)

5.2.2. By Feedstock (Urban residue, Municipal Solid Waste (MSW), Agricultural and forest residue, Energy crops, Woody biomass, Others)

5.2.3. By End-User (Industrial, Residential & Commercial, Utilities)

5.2.4. By Fuel Type (Solid, Liquid, Gaseous)

5.2.5. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America Biomass Power Generation Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Technology

6.2.2. By Feedstock

6.2.3. By End-User

6.2.4. By Fuel Type

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Biomass Power Generation Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Technology

6.3.1.2.2. By Feedstock

6.3.1.2.3. By End-User

6.3.1.2.4. By Fuel Type

6.3.2. Canada Biomass Power Generation Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Technology

6.3.2.2.2. By Feedstock

6.3.2.2.3. By End-User

6.3.2.2.4. By Fuel Type

6.3.3. Mexico Biomass Power Generation Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Technology

6.3.3.2.2. By Feedstock

6.3.3.2.3. By End-User

6.3.3.2.4. By Fuel Type

7. Asia-Pacific Biomass Power Generation Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Technology

7.2.2. By Feedstock

7.2.3. By End-User

7.2.4. By Fuel Type

7.2.5. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Biomass Power Generation Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Technology

7.3.1.2.2. By Feedstock

7.3.1.2.3. By End-User

7.3.1.2.4. By Fuel Type

7.3.2. India Biomass Power Generation Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Size & Forecast

7.3.2.2.1. By Technology

7.3.2.2.2. By Feedstock

7.3.2.2.3. By End-User

7.3.2.2.4. By Fuel Type

7.3.3. Japan Biomass Power Generation Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Size & Forecast

7.3.3.2.1. By Technology

7.3.3.2.2. By Feedstock

7.3.3.2.3. By End-User

7.3.3.2.4. By Fuel Type

7.3.4. South Korea Biomass Power Generation Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Size & Forecast

7.3.4.2.1. By Technology

7.3.4.2.2. By Feedstock

7.3.4.2.3. By End-User

7.3.4.2.4. By Fuel Type

7.3.5. Australia Biomass Power Generation Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Technology

7.3.5.2.2. By Feedstock

7.3.5.2.3. By End-User

7.3.5.2.4. By Fuel Type

8. Europe Biomass Power Generation Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Technology

8.2.2. By Feedstock

8.2.3. By End-User

8.2.4. By Fuel Type

8.2.5. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Biomass Power Generation Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Technology

8.3.1.2.2. By Feedstock

8.3.1.2.3. By End-User

8.3.1.2.4. By Fuel Type

8.3.2. United Kingdom Biomass Power Generation Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Technology

8.3.2.2.2. By Feedstock

8.3.2.2.3. By End-User

8.3.2.2.4. By Fuel Type

8.3.3. France Biomass Power Generation Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Technology

8.3.3.2.2. By Feedstock

8.3.3.2.3. By End-User

8.3.3.2.4. By Fuel Type

8.3.4. Italy Biomass Power Generation Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Technology

8.3.4.2.2. By Feedstock

8.3.4.2.3. By End-User

8.3.4.2.4. By Fuel Type

8.3.5. Spain Biomass Power Generation Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Technology

8.3.5.2.2. By Feedstock

8.3.5.2.3. By End-User

8.3.5.2.4. By Fuel Type

9. South America Biomass Power Generation Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Technology

9.2.2. By Feedstock

9.2.3. By End-User

9.2.4. By Fuel Type

9.2.5. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Biomass Power Generation Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Technology

9.3.1.2.2. By Feedstock

9.3.1.2.3. By End-User

9.3.1.2.4. By Fuel Type

9.3.2. Argentina Biomass Power Generation Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Technology

9.3.2.2.2. By Feedstock

9.3.2.2.3. By End-User

9.3.2.2.4. By Fuel Type

9.3.3. Colombia Biomass Power Generation Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Technology

9.3.3.2.2. By Feedstock

9.3.3.2.3. By End-User

9.3.3.2.4. By Fuel Type

10. Middle East & Africa Biomass Power Generation Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Technology

10.2.2. By Feedstock

10.2.3. By End-User

10.2.4. By Fuel Type

10.2.5. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Biomass Power Generation Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Technology

10.3.1.2.2. By Feedstock

10.3.1.2.3. By End-User

10.3.1.2.4. By Fuel Type

10.3.2. South Africa Biomass Power Generation Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Technology

10.3.2.2.2. By Feedstock

10.3.2.2.3. By End-User

10.3.2.2.4. By Fuel Type

10.3.3. UAE Biomass Power Generation Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Technology

10.3.3.2.2. By Feedstock

10.3.3.2.3. By End-User

10.3.3.2.4. By Fuel Type

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Company Profiles

13.1. Mitsubishi Power Ltd.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2. Suez SA

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3. Xcel Energy Inc.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4. Ramboll Group A/S

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5. Babcock & Wilcox Enterprises, Inc.

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6. Orsted A/S

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7. Ameresco Inc

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8. General Electric Company

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9. Veolia Environnement S.A.

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

13.10. Vattenfall AB

13.10.1. Business Overview

13.10.2. Key Revenue and Financials

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

Which is the dominating region in the global biomass power generation market?

The market for biomass power generation is dominated by the Asia Pacific region. One of the main factors driving the growth of the biomass power generation market in the Asia Pacific is the increase in investments in bioenergy projects that concentrate on the integration of renewable energy in the national grid.

Which are the major market players in the global biomass power generation market?

Mitsubishi Power Ltd., Suez SA, Xcel Energy Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises, Inc., Orsted A/S, Ameresco Inc, General Electric Company, Veolia Environment S.A., and Vattenfall AB. are the major market players in the global biomass power generation market.

What are the main drivers of the global biomass power generation market?

The main drivers of the global biomass power generation market are producing energy from waste and reduced dependency on fossil fuels.

What are the main challenges of global biomass power generation market?

The main challenges of the global biomass power generation market are lack of transmission line infrastructure and limitations for biodiesel production.

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