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The Biomass Power Generation Market size was valued at USD 92.29 billion in 2023 and is expected to grow to USD 120.52 billion by 2032 and grow at a CAGR of 3.01% over the forecast period of 2024-2032.
Biomass is an alternative source of energy which generate through energy from natural sources like land, sun, air, and water. Biomass is used for various purposes like heating, electric power generation, etc. It includes a large variety of materials such as wood, animal and human waste, and agricultural residue.
Direct combustion is applied to generate electricity from biomass. To produce high-pressure steam, biomass is burned to high temperatures. The produced steam flows over the series of turbine blades which causes rotation of the turbine. Due to this rotation, the turbine drives the generator causing electricity production. As the substitute for the portion of coal in an existing power plant furnace biomass is used. This technique is called co-firing which means the combustion of two different materials at the same time.
For different biomass sources, different methods are used for combustion.
Woody biomass- gasified to generate electricity
Corn Stover and wheat straw- anaerobic digester is used to convert into gas
Very wet wastes of animal and human sewage- Converted into medium-energy content gas in an anaerobic digester.
Other Types of biomass - converted into bio-oil through pyrolysis.
As compared to other renewable energy options biomass is one of the most advantageous in terms of dispatch ability, controllability, and availability. One of the disadvantages of biomass combustion is that it produces emissions that need to be controlled by the rules and regulations of the government.
Drivers
Increase in adoption of biomass feedstock to reduce carbon emission.
Rise in awareness about environment-friendly power generation techniques
Increase in demand for clean sources of the renewable energy
Stringent rules and regulations by the government
The market for Biomass Power Generation is being driven by an increase in demand for clean and renewable energy sources. This trend is a response to the growing concern for the environment and the need to reduce carbon emissions. Biomass Power Generation is a sustainable and eco-friendly solution that utilizes organic materials such as wood, crops, and waste to produce electricity. As the world becomes more conscious of the impact of traditional energy sources on the environment, the demand for Biomass Power Generation is expected to continue to rise.
Restrain
High cost and fluctuation in the prices of feedstocks.
Opportunities
Advancement in the technique of biomass power generation
Increasing investment in R&D of biomass power generation technologies.
Challenges
High initial investment in generating biomass power.
The high initial investment required for generating biomass power is a significant obstacle for the biomass power generation market. While the potential benefits of biomass power are numerous, the upfront costs can be prohibitive for many investors. This financial barrier can limit the growth and development of the industry, hindering progress toward a more sustainable energy future.
The COVID-19 pandemic has had a significant impact on the biomass power generation sector. The scarcity of labor force, limited maintenance, and operational staff in power generation plants have hit the industry hard. The widespread suspension of economic activity, disruption of the supply chain, and concern for employee safety have contributed to the reduction of power demand and generated considerable risk for the entire value chain. As a result of the lockdown, the sector has faced falling demand for power, poor financial health, disruption of the supply chain for under-construction biomass power projects, labor shortages, and delays in the acquisition of land and equipment. These challenges have made it difficult for the industry to maintain its operations and meet the needs of its customers.
The biomass power generation market relies heavily on the availability of biomass feedstock, which includes wood chips, agricultural waste, and other organic materials. However, the war has disrupted the supply chain of these materials, leading to a shortage of biomass feedstock and affecting the growth of the biomass power generation market.
Impact of Recession:
As the economy has slowed down, demand for renewable energy sources is also slowed down. This has led to a decrease in investment in the biomass power generation industry, which has had a ripple effect throughout the market. One of the main challenges facing the biomass power generation market during the recession has been the lack of funding. Many investors have been hesitant to invest in renewable energy projects due to the economic uncertainty. This has made it difficult for companies in the biomass power generation industry to secure the necessary funding to continue their operations.
By Technology
Combustion
Gasification
Anaerobic Digestion
Pyrolysis
Co-firing
LFG
Others
By Feedstock
Agricultural Waste
Forest Waste
Animal Waste
Municipal waste
By Fuel
Solid
Liquid
Gaseous
By region, Asia Pacific dominated the market and is anticipated to show lucrative growth during the forecast period. This is owing to the increasing investment in biomass power generation projects. The rising adoption of environmental power generation techniques and stringent government rules and regulations regarding carbon emissions propel the growth of the biomass power generation market. The rising population and increasing per capita income of the population further increase the demand for the biomass power generation market.
North America and Europe are also expecting to grow at a significant growth rate due to the use of biomass for different purposes to meet the rising demand for electricity in this region.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major players are Babcock & Wilcox Enterprises Inc., E.ON SE, General Electric Co., John Wood Group Plc, Thermax Ltd., Valmet Oyj, Acciona SA, Ameresco Inc, Andritz AG, Vattenfall AB, and other key players will be included in the final report.
| Report Attributes | Details |
| Market Size in 2023 | US$ 92.29 Bn |
| Market Size by 2032 | US$ 120.52 Bn |
| CAGR | CAGR of 3.01% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Technology (Combustion, Gasification, Anaerobic Digestion, Pyrolysis, Co-firing, LFG, and others) • By Feedstock (Agricultural Waste, Forest Waste, Animal Waste, Municipal waste) • By Fuel (Solid, Liquid, Gaseous) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Babcock & Wilcox Enterprises Inc., E.ON SE, General Electric Co., John Wood Group Plc, Thermax Ltd., Valmet Oyj, Acciona SA, Ameresco Inc, Andritz AG, Vattenfall AB, and other |
| Key Drivers | • Increase in adoption of biomass feedstock to reduce carbon emission. • Rise in awareness about environment-friendly power generation techniques |
| Market Opportunities | • Advancement in the technique of biomass power generation • Increasing investment in R&D of biomass power generation technologies. |
The expected CAGR of the global Biomass Power Generation Market during the forecast period is 2.8%.
The estimated market size of the Biomass Power Generation Market is 111.75 USD billion in 2030.
The major competitors of biomass power generation market are Babcock & Wilcox Enterprises Inc., E.ON SE, General Electric Co., John Wood Group Plc, Thermax Ltd., Valmet Oyj, Acciona SA, Ameresco Inc, Andritz AG, and Vattenfall AB.
Asia Pacific region is expected to show the highest growth of the Biomass Power Generation Market during the forecast period.
Increase in the adoption of biomass feedstock to reduce carbon emission, Rise in awareness about environment-friendly power generation techniques, Increase in demand for clean sources of renewable energy, and Stringent rules and regulations by the government are the main driving factors of biomass power generation market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Biomass Power Generation Market Segmentation, By Technology
8.1 Combustion
8.2 Gasification
8.3 Anaerobic Digestion
8.4 Pyrolysis
8.5Co-firing
8.6 LFG
8.7 Others
9. Biomass Power Generation Market Segmentation, By Feedstock
9.1 Agricultural Waste
9.2 Forest Waste
9.3 Animal Waste
9.4 Municipal waste
10. Biomass Power Generation Market Segmentation, By Fuel
10.1 Solid
10.2 Liquid
10.3 Gaseous
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Biomass Power Generation Market by Country
11.2.2North America Biomass Power Generation Market by Technology
11.2.3 North America Biomass Power Generation Market by Feedstock
11.2.4 North America Biomass Power Generation Market by Fuel
11.2.5 USA
11.2.5.1 USA Biomass Power Generation Market by Technology
11.2.5.2 USA Biomass Power Generation Market by Feedstock
11.2.5.3 USA Biomass Power Generation Market by Fuel
11.2.6 Canada
11.2.6.1 Canada Biomass Power Generation Market by Technology
11.2.6.2 Canada Biomass Power Generation Market by Feedstock
11.2.6.3 Canada Biomass Power Generation Market by Fuel
11.2.7 Mexico
11.2.7.1 Mexico Biomass Power Generation Market by Technology
11.2.7.2 Mexico Biomass Power Generation Market by Feedstock
11.2.7.3 Mexico Biomass Power Generation Market by Fuel
11.3 Europe
11.3.1 Europe Biomass Power Generation Market by Country
11.3.2 Europe Biomass Power Generation Market by Technology
11.3.3 Europe Biomass Power Generation Market by Feedstock
11.3.4Europe Biomass Power Generation Market by Fuel
11.3.5Germany
11.3.5.1 Germany Biomass Power Generation Market by Technology
11.3.5.2 Germany Biomass Power Generation Market by Feedstock
11.3.5.3 Germany Biomass Power Generation Market by Fuel
11.3.6 UK
11.3.6.1 UK Biomass Power Generation Market by Technology
11.3.6.2 UK Biomass Power Generation Market by Feedstock
11.3.6.3 UK Biomass Power Generation Market by Fuel
11.3.7 France
11.3.7.1 France Biomass Power Generation Market by Technology
11.3.7.2 France Biomass Power Generation Market by Feedstock
11.3.7.3 France Biomass Power Generation Market by Fuel
11.3.8 Italy
11.3.8.1 Italy Biomass Power Generation Market by Technology
11.3.8.2 Italy Biomass Power Generation Market by Feedstock
11.3.8.3 Italy Biomass Power Generation Market by Fuel
11.3.9 Spain
11.3.9.1 Spain Biomass Power Generation Market by Technology
11.3.9.2 Spain Biomass Power Generation Market by Feedstock
11.3.9.3 Spain Biomass Power Generation Market by Fuel
11.3.10 The Netherlands
11.3.10.1 Netherlands Biomass Power Generation Market by Technology
11.3.10.2 Netherlands Biomass Power Generation Market by Feedstock
11.3.10.3 Netherlands Biomass Power Generation Market by Fuel
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Biomass Power Generation Market by Technology
11.3.11.2 Rest of Europe Biomass Power Generation Market by Feedstock
11.3.11.3 Rest of Europe Biomass Power Generation Market by Fuel
11.4 Asia-Pacific
11.4.1 Asia Pacific Biomass Power Generation Market by Country
11.4.2Asia Pacific Biomass Power Generation Market by Technology
11.4.3 Asia Pacific Biomass Power Generation Market by Feedstock
11.4.4 Asia Pacific Biomass Power Generation Market by Fuel
11.4.5 Japan
11.4.5.1 Japan Biomass Power Generation Market by Technology
11.4.5. 2Japan Biomass Power Generation Market by Feedstock
11.4.5. 3Japan Biomass Power Generation Market by Fuel
11.4.6 South Korea
11.4.6.1 South Korea Biomass Power Generation Market by Technology
11.4.6.2. South Korea Biomass Power Generation Market by Feedstock
11.4.6.3. South Korea Biomass Power Generation Market by Fuel
11.4.7China
11.4.7.1 China Biomass Power Generation Market by Technology
11.4.7.2. China Biomass Power Generation Market by Feedstock
11.4.7.3. China Biomass Power Generation Market by Fuel
11.4.8 India
11.4.8.1 India Biomass Power Generation Market by Technology
11.4.8.2. India Biomass Power Generation Market by Feedstock
11.4.8.3 India Biomass Power Generation Market by Fuel
11.4.9Australia
11.4.8.1 Australia Biomass Power Generation Market by Technology
11.4.8.2. Australia Biomass Power Generation Market by Feedstock
11.4.8.3. Australia Biomass Power Generation Market by Fuel
11.4.10Rest of Asia-Pacific
11.4.10.1 APAC Biomass Power Generation Market by Technology
11.4.10.2. APAC Biomass Power Generation Market by Feedstock
11.4.10.3. APAC Biomass Power Generation Market by Fuel
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Biomass Power Generation Market by Country
11.5.2 The Middle East & Africa Biomass Power Generation Market by Technology
11.5.3The Middle East & Africa Biomass Power Generation Market by Feedstock
11.5.4The Middle East & Africa Biomass Power Generation Market by Fuel
11.5.5Israel
11.5.5.1 Israel Biomass Power Generation Market by Technology
11.5.5.2 Israel Biomass Power Generation Market by Feedstock
11.5.5.3 Israel Biomass Power Generation Market by Fuel
11.5.6 UAE
11.5.6.1 UAE Biomass Power Generation Market by Technology
11.5.6.2 Israel Biomass Power Generation Market by Feedstock
11.5.6.3 Israel Biomass Power Generation Market by Fuel
11.5.7South Africa
11.5.7.1 South Africa Biomass Power Generation Market by Technology
11.5.7.2 South Africa Biomass Power Generation Market by Feedstock
11.5.7.3 South Africa Biomass Power Generation Market by Fuel
11.5.8 Rest of Middle East & Africa
11.5.8.1 Rest of Middle East & Asia Biomass Power Generation Market by Technology
11.5.8.2 Rest of Middle East & Asia Biomass Power Generation Market by Feedstock
11.5.8.3 Rest of Middle East & Asia Biomass Power Generation Market by Fuel
11.6 Latin America
11.6.1 Latin America Biomass Power Generation Market by Country
11.6.2. Latin America Biomass Power Generation Market by Technology
11.6.3 Latin America Biomass Power Generation Market by Feedstock
11.6.4 Latin America Biomass Power Generation Market by Fuel
11.6.5 Brazil
11.6.5.1 Brazil Biomass Power Generation Market by Technology
11.6.5.2 Brazil Biomass Power Generation Market by Feedstock
11.6.5.3Brazil Biomass Power Generation Market by Fuel
11.6.6 Argentina
11.6.6.1 Argentina Biomass Power Generation Market by Technology
11.6.6.2 Argentina Biomass Power Generation Market by Feedstock
11.6.6.3 Argentina Biomass Power Generation Market by Fuel
11.6.7Rest of Latin America
11.6.7.1 Rest of Latin America Biomass Power Generation Market by Technology
11.6.7.2 Rest of Latin America Biomass Power Generation Market by Feedstock
11.6.7.3Rest of Latin America Biomass Power Generation Market by Fuel
12 Company Profile
12.1 Babcock & Wilcox Enterprises Inc.
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 E.ON SE
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 General Electric Co
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 John Wood Group Plc
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Thermax Ltd.
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Valmet Oyj
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Acciona SA
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Ameresco Inc
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Andritz AG
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Vattenfall AB
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. USE Cases And Best Practices
15. Conclusion
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