Biomass power generation refers to the process of producing electricity and heat by utilizing organic materials, commonly known as biomass, as fuel. This renewable energy source relies on biological materials derived from plants, agricultural waste, forestry residues and organic municipal waste.
The biomass power generation market consists of sales, by entities (organizations, sole traders or partnerships), of biomass power generation offering a sustainable alternative to fossil fuels while reducing greenhouse gas emissions. It is widely used by industries, commercial establishments and residential consumers to meet electricity and heating needs. The process of biomass power generation varies depending on the type of feedstock and the technology employed.
The global biomass power generation market was valued at $47,181.30 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 4.00%.
Increase In Energy Demand And Consumption
The increase in global energy demand and consumption drove the growth of the biomass power generation market during the historic period. As fossil fuel reserves deplete and concerns over carbon emissions intensify, governments and industries are turning to biomass derived from organic materials such as agricultural waste, wood pellets and municipal solid waste as a viable alternative. Biomass power generation offers a stable and renewable energy supply, reducing dependence on volatile fossil fuel markets while supporting energy security. Countries seek sustainable and renewable energy sources to meet rising electricity needs. For instance, in March 2024, according to the European Environment Agency, a Denmark-based provider of independent information on the environment, in 2022, 23% of the total energy consumed in the EU was sourced from renewables, reflecting an increase from 21.9% in 2021. Therefore, an increase in energy demand and consumption propelled the growth of the biomass power generation market.
Biomass Power Expansion In Vietnam To Reduce Carbon Footprint
Major companies operating in the biomass power generation market are focusing on biomass power expansion in Vietnam to reduce carbon footprint. Companies are investing in biomass power plants, partnering with local stakeholders and leveraging government incentives that promote renewable energy development. This expansion aligns with Vietnam's commitment to achieving net-zero emissions by 2050 and reducing dependence on imported fuels. For instance, in October 2024, Erex, a Japanese renewable energy developer, started building two 50 MW (Megawatt) biomass-fired power plants in Vietnam. Both projects are backed by Japan's subsidy scheme that supports potential projects that could contribute to its Joint Crediting Mechanism (JCM) to cut greenhouse gas emissions. Each plant will have 50 MW of generation capacity and burn around 500,000 t/yr (tons per year) of wood residue secured in northern Vietnam. Both plants are scheduled to come online in mid-2027. The construction cost of each plant is estimated at $100 million to $120 million.
The global biomass power generation market is concentrated, with large players operating in the market. The top 10 competitors in the market made up 41.96% of the total market in 2023.
Biomass Power Generation Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global biomass power generation market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for biomass power generation? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The biomass power generation market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider biomass power generation market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by feedstock, by technology and by end-user.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the interest rates, inflation, geopolitics and covid and recovery on the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Regional And Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by feedstock, by technology and by end-user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations This section includes recommendations for biomass power generation providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Feedstock: Woody Biomass; Agriculture And Forest Residues; Biogas And Energy Crops; Urban Residues; Landfill Gas (LPG) Feedstock
- 2) By Technology: Aerobic Digestion; Combustion; Gasification; Other Technologies
- 3) By End-User: Commercial; Industrial; Residential; Transportation; Electric Power
- Companies Mentioned: Mitsubishi Heavy Industries Ltd.; General Electric Company; Sumitomo Corporation; Veolia Environnement S.A.; EDF FR
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; biomass power generation indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.