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How has the biomass power generation market grown over the years?

The market size for biomass power generation has seen robust growth in the past few years. The industry, which was valued at $59.72 billion in 2024, is predicted to escalate to $63.87 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 6.9%. Factors contributing to this growth during the historical period include governmental policies and incentives, concerns over energy security, environmental regulations, advancements in technology, and initiatives related to waste management.

What Is the forecasted market size and growth rate for the biomass power generation market?

The market for biomass power generation is predicted to witness robust expansion in the coming years, with its worth skyrocketing to $78.81 billion by 2029 and a compound annual growth rate (CAGR) of 5.4%. The projected growth within this timeframe is credited to factors such as renewable energy goals, circular economy strategies, financial incentives and grants, advancements in biomass transformation technology, and a growing demand for sustainable energy alternatives. The forecast period is also set to see significant trends such as the enlargement of co-firing methods, integration of energy storage systems, the rise of distributed biomass power generation, the appearance of biomass by-products, and the incorporation of superior control and automation systems.

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What are the major factors driving growth in the biomass power generation market?

The hike in the biomass power generation market is anticipated due to government measures for biomass power production. These initiatives constitute strategic steps, schemes, and rules set forth by government bodies to tackle distinct concerns, attain targets, or cater to the demands of their people. Financial stimuli such as grants, subsidies, or tax breaks are offered by governments of key nations to impel the setting up and functioning of biomass power stations. Such provisions aid in mitigating the investment load on investors, thereby rendering biomass ventures fiscally feasible. For illustration, the International Energy Agency, an independent French intergovernmental organization, reported in its June 2023 update of the Government Energy Spending Tracker that governments have allocated a sum of USD 1.34 trillion to clean energy investments. This indicates a surge of almost 25% from 2021 to 2023, exceeding the rise in fossil fuel investments during the same stretch. Consequently, it’s the government measures for biomass power production that push the biomass power generation market forward.

What key areas define the segmentation of the global biomass power generation Market?

The biomass power generation market covered in this report is segmented –

1) By Feedstock: Woody Biomass, Agriculture And Forest Residues, Biogas And Energy Crops, Urban Residues, Landfill Gas (LFG) Feedstock

2) By Technology: Anaerobic Digestion, Combustion, Gasification, Co-firing And CHP, Landfill Gas (LFG)

3) By End-User: Commercial, Industrial, Residential

Subsegments:

1) By Woody Biomass: Wood Chips, Wood Pellets, Sawdust, Wood Logs, Bark

2) By Agriculture And Forest Residues: Crop Residues, Forest Residues, Agricultural Waste

3) By Biogas And Energy Crops: Biogas, Energy Crops

4) By Urban Residues: Municipal Solid Waste (MSW), Yard Waste, Paper Waste, Food Waste

5) By Landfill Gas (LFG) Feedstock: Methane from Landfill Gas

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What are the top market players propelling the growth of the biomass power generation industry?

Major companies operating in the biomass power generation market are E.ON SE, ENGIE SA, Siemens AG, General Electric Company, Veolia Environnement SA, Mitsubishi Heavy Industries Ltd., ALSTOM Holdings, Dalkia by EDF Group, Drax Group PLC, Rockwell Automation Inc., MVV Energie AG, John Wood Group, Valmet Corporation, Alfa Laval, Aker Solutions, MEIDENSHA CORPORATION, Ameresco Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises Inc., EnviTec Biogas AG, Vattenfall AB, WELTEC BIOPOWER GmbH, KASAG Swiss AG, Beltran Technologies Inc., Volue

What are the key trends shaping the future of the biomass power generation market?

Leading businesses in the biomass power generation market are utilizing strategic alliances to strengthen their market position. Undertaking partnerships in the sphere of biomass power generation can offer significant advantages, contributing to project success and sustainability within this energy sector. For instance, Marubeni Corporation, a trading firm based in Japan, entered into a partnership with Taisei Corporation, a Japanese real estate development company, in April 2023. This collaboration expedited the construction of the Ishikari Area Biomass Power Plant in Ishikari City, Hokkaido, which is anticipated to generate 9,950 kW of power. Moreover, in December 2023, Air Burners, a US-based firm renowned for fabricating air curtain burner systems for biomass waste disposal, collaborated with Rolls-Royce, a UK-based luxury car manufacturer, and Volvo, a car manufacturer based in Sweden. This strategic synergy with Volvo and Rolls Royce led to Air Burners establishing BioCharger, a device capable of transforming biomass waste into energy. It’s constructed for effective transformation of biomass waste into energy, providing decentralised power solutions for various usages.

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What regions are dominating the biomass power generation market growth?

Europe was the largest region in the biomass power generation market in 2024. The regions covered in the biomass power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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