The global biomass power generation market is projected to reach USD 105.7 billion by 2028 from an estimated USD 91.3 billion in 2023, at a CAGR of 3.0% during the forecast period. Factors such as the need of electrification in rural areas and investments in renewable energy projects are driving the growth of the biomass power generations market.
Key Market Players
ENGIE (France), Babcock & Wilcox Enterprises, Inc. (US), Xcel Energy Inc. (US), Salzburg AG (Austria), Ørsted A/S (Denmark), EPH (Czechia), Drax Group (England), ACCIONA (Spain), EDF (France), Vattenfall (Sweden), Belgian Eco Energy (BEE) (Belgium), D.E.S.I Power (India), Veolia (France), Statkraft (Norway), Greta Energy Limited (India), Lahti Energia Oy (Finland), RENOVA, Inc. (Japan), RWE (Germany), Yonago Biomass Power Generation LLC (Japan)
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This research report categorizes the biomass power generation market by feedstock, technology, fuel and region.
On the basis of feedstock:
- Agriculture Waste
- Forest Waste
- Animal Waste
- Municipal Waste
On the basis of technology:
- Combustion
- Gasification
- Anaerobic Digestion
- Pyrolysis
On the basis of fuel:
- Solid Fuel
- Liquid Fuel
- Gaseous Fuel
On the basis of region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
The solid fuel segment, by fuel, is expected to be the largest segment during the forecast period
This report segments the biomass power generation market based on fuel into three segments: Solid fuel, liquid fuel and gaseous fuel. The solid fuel segment is expected to be the largest segment during the forecast period. Solid fuels are generally woody biomass, which are directly burnt for the generation of electricity. Abundant availability of woody biomass and clean substitution to fossil fuels are major drivers for growth of solid fuel in biomass power generation.
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Asia Pacific is expected to be the largest region in the biomass power generation market
Asia Pacific is expected to be the largest biomass power generation market during the forecast period. In Asia Pacific several countries planned pilot projects and carrying out full-scale development of commercial-scale biomass power plants to amplify bioenergy deployments in the region. This has increased investments toward new projects, research studies, and new installations of biopower plants in the Asia Pacific, especially in China and India. These factors are expected to fuel the growth of the biomass power generation market in the region.
