PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1777858
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1777858
Global Biomass Power Generation Market to Reach US$104.8 Billion by 2030
The global market for Biomass Power Generation estimated at US$90.8 Billion in the year 2024, is expected to reach US$104.8 Billion by 2030, growing at a CAGR of 2.4% over the analysis period 2024-2030. Forest Waste Feedstock, one of the segments analyzed in the report, is expected to record a 2.6% CAGR and reach US$39.6 Billion by the end of the analysis period. Growth in the Agriculture Waste Feedstock segment is estimated at 2.1% CAGR over the analysis period.
The U.S. Market is Estimated at US$24.7 Billion While China is Forecast to Grow at 4.5% CAGR
The Biomass Power Generation market in the U.S. is estimated at US$24.7 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$19.9 Billion by the year 2030 trailing a CAGR of 4.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.0% and 2.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.
Global Biomass Power Generation Market - Key Trends & Drivers Summarized
Why Is Biomass Power Generation Gaining Momentum in the Renewable Energy Sector?
Biomass power generation has emerged as a vital component of the global renewable energy mix, offering a sustainable solution to meet rising electricity demand while reducing carbon emissions. Derived from organic materials such as wood pellets, agricultural residues, and municipal solid waste, biomass serves as a renewable alternative to fossil fuels in electricity production. The increasing push toward decarbonization and energy security is driving governments and industries to invest in biomass power plants, ensuring a steady transition toward cleaner energy sources. The demand for biomass power is particularly strong in regions that aim to diversify their energy sources and reduce dependence on coal and natural gas. Europe, North America, and parts of Asia-Pacific have implemented favorable policies to support biomass adoption, offering incentives such as feed-in tariffs, renewable energy credits, and carbon tax exemptions. Additionally, technological advancements in biomass combustion, gasification, and co-firing techniques are improving energy efficiency, making biomass a more competitive and viable option in the global energy market.
How Are Technological Advancements Enhancing Biomass Power Generation?
Significant progress in biomass power technologies is driving efficiency improvements and expanding the application of biomass in large-scale power generation. Modern biomass power plants are integrating advanced gasification processes, which convert organic feedstock into a cleaner and more efficient syngas, reducing greenhouse gas emissions and enhancing power output. Moreover, combined heat and power (CHP) systems are becoming increasingly popular, allowing biomass plants to generate electricity while simultaneously producing useful heat for industrial and residential use. Another crucial advancement in biomass power generation is the development of torrefaction technology, which enhances the energy density and storage capabilities of biomass fuels. Torrefied biomass exhibits properties similar to coal, making it easier to transport and co-fire with traditional fossil fuels in existing power plants. Additionally, the integration of carbon capture and storage (CCS) solutions in biomass facilities is helping mitigate environmental concerns, positioning biomass as a carbon-neutral or even carbon-negative energy source. These innovations are strengthening the role of biomass power generation in the transition toward a low-carbon future.
What Market Trends Are Driving the Growth of Biomass Power Generation?
One of the most significant trends shaping the biomass power generation market is the increasing use of waste-to-energy (WTE) technologies. Governments and municipalities worldwide are investing in biomass-based WTE plants to address growing waste management challenges while simultaneously generating electricity. This trend aligns with the circular economy concept, promoting sustainable resource utilization and reducing landfill dependence. Another key market trend is the growing collaboration between utilities, independent power producers (IPPs), and agricultural industries. Biomass co-firing with coal is gaining traction as a transitional strategy to reduce carbon emissions without completely phasing out existing coal power infrastructure. Furthermore, the expansion of distributed biomass power systems in rural and off-grid regions is supporting energy access initiatives, particularly in developing countries. With advancements in biomass fuel logistics and supply chain management, biomass power generation is becoming more scalable and commercially viable across diverse geographic regions.
What Are the Key Growth Drivers for the Biomass Power Generation Market?
The growth in the Biomass Power Generation market is driven by several factors including increasing government policies supporting renewable energy adoption, advancements in biomass conversion technologies, and the rising demand for sustainable energy solutions. The implementation of carbon pricing mechanisms and emission reduction targets is further incentivizing industries to shift toward biomass-based power generation. Additionally, the expanding availability of agricultural and forestry residues is ensuring a stable biomass feedstock supply, reducing concerns about resource scarcity. The growing interest in bioenergy as part of the broader energy transition strategy is also fostering investments in new biomass projects and infrastructure development. As industries and governments continue to prioritize sustainability and energy diversification, the biomass power generation market is expected to witness steady growth, cementing its role in the global renewable energy landscape.
SCOPE OF STUDY:
The report analyzes the Biomass Power Generation market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Feedstock (Forest Waste Feedstock, Agriculture Waste Feedstock, Animal Waste Feedstock, Municipal Waste Feedstock); Technology (Combustion Technology, Gasification Technology, Anaerobic Digestion Technology, Pyrolysis Technology); Fuel (Solid Fuel, Liquid Fuel, Gaseous Fuel)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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