PUBLISHER: Inkwood Research | PRODUCT CODE: 1220734
PUBLISHER: Inkwood Research | PRODUCT CODE: 1220734
The India industrial biomass boiler market is predicted to rise with a 12.86% CAGR during the estimated period, 2023-2030. The market growth in the country is boosted by the rising adoption of biomass energy sources, as traditional energy sources are becoming more scarce.
According to Energy Alternatives India, up to 500 million tons of biomass is generated annually, accounting for up to 32% of primary energy use. Additionally, 70% of the Indian population relies on it for their energy needs. The government has proposed that biodiesel should make up 20% of India's total diesel demand, with wild plants like Neem and Mahua being used as major sources.
The Indian Institute of Science has also found that over 300 districts can generate between 10 and 100 MW of power via biomass plants. This significant potential further boosts growth in the India industrial biomass boiler market. High investments from public and private entities in biorefinery development are also contributing to this growth, spurred by rising energy demand across India and dwindling reserves of fossil fuels.
Leading key players include: Andritz AG, Alstom SA, General Electric, Babcock Power Inc, etc.