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
The biomass power generation market is served by many international players with global operational presence and local players with a strong domestic supply network. ENGIE (France), Xcel Energy Inc. (US), Babcock & Wilcox Enterprises, Inc. (US), EPH (Czechia), and Ørsted A/S (Denmark) are the market leaders in the global biomass power generation market. These companies use strategies such as contracts, agreements, partnerships, acquisitions, and expansions to increase their market share.
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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
Recent Developments:
- In November 2022, ENGIE signed an agreement with Alier, a paper recycle specialist, to build and commission a new thermal energy generation plant from sustainable forest management in Roselló’s factory, specializing in manufacturing paper for the construction and packaging industries (Lleida).
- In March 2021, Salzburg AG signed an agreement with Valmet, a global developer and supplier of technologies, automation, and services for the pulp & paper and energy industries. Salzbrug AG ordered Valmet for the BioPower plant, which is biomass-based for electricity generation in Austria.
- In March 2021, Ørsted, Aker Carbon Capture, and Microsoft have signed a Memorandum of Understanding (MoU) to investigate strategies to help the development of carbon capture and storage at biomass-fired heat and power stations in Denmark.
- In April 2018, The University of Minnesota funds Xcel Energy Inc. to develop gasification for power generation technology from solid wastes.
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“Asia Pacific”: The fastest in the biomass power generation market”
Asia Pacific is expected to fastest growing region in the biomass power generation market between 2023–2028, followed by the Middle East and Africa, and Europe. Rising investments in the bioenergy projects to focus on the integration of renewable energy in the national grid are one of the key factors fostering the growth of the market in the Asia Pacific.
