Biomass Heating Plant Market By Fuel Type (Solid Biomass, Liquid Biomass, Gaseous Biomass) , By End-Use (Residential, Commercial, Industrial) By Technology (Direct Combustion, Gasification, Anaerobic Digestion, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Biomass Heating Plant Market
The biomass heating plant market was valued at $7.3 billion in 2023 and is projected to reach $17.3 billion by 2033, growing at a CAGR of 9.1% from 2024 to 2033.
A biomass heating plant is an establishment for the generation of heat energy through biomass combustion. The major constituents of a heating plant include combustion system, heat exchanger, boiler system, emission control system, and distribution system. The plant converts the chemical energy stored in organic materials into thermal energy, which is further utilized in various applications such as electricity generation, heating, and industrial processes.
Increase in recognition and demand for renewable energy sources is a key driver of the biomass heating plant market. In addition, availability of governmental support in the form of incentives and subsidies to promote the adoption of renewable energy augments the development of the market. Furthermore, the biomass heating plant serves as an excellent waste management solution by converting agricultural and forestry waste into heat energy. The latest trend gaining prominence in the market is the combination of heating and electricity production systems. Combined heat and power systems enhance the efficiency of energy production by streamlining the heat and electricity production processes. The assimilation of biomass heating plants with generators and turbines is facilitating the enhancement of energy output and reduction of operational expenses.
However, inconsistency in feedstock availability results in varying utility of biomass heating plant, which hampers the growth of the market. Moreover, stringent competition from other forms of renewable sources, including solar and wind energies, restrains the development of the biomass heating plant market. On the contrary, as different sectors continue to incline toward biomass to cater their energy requirements, the biomass heating plant market is poised for remunerative opportunities in coming years. According to the U.S. Energy Information Administration, the industrial sector was the highest consumer of biomass energy in the U.S. in 2023, followed by transportation, residential, electric power, and commercial sector. Hence, upsurge in demand for biomass energy from various sectors is projected to open new avenues for the market.
Segment ReviewThe biomass heating plant market is segmented into fuel type, end use, technology, and region. On the basis of fuel type, the market is divided into solid biomass, liquid biomass, and gaseous biomass. Depending on end use, it is classified into residential, commercial, and industrial. By technology, it is categorized into direct combustion, gasification, anaerobic digestion, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of fuel type, the solid biomass segment is expected to account for a high market share during the forecast period.
Depending on end use, the industrial segment is projected to be the highest shareholder by 2033.
By technology, the direct combustion segment is anticipated to dominate throughout the forecast period.Region wise, Asia-Pacific is predicted to be the highest revenue generator by 2033.
Competition AnalysisThe leading players operating in the global biomass heating plant market include Babcock & Wilcox Enterprises, Inc, Siemens AG, Valmet, Doosan Enerbility, Thermax Limited, HoSt Energy Systems, Hurst Boiler & Welding Co, Inc, Energy Saving Trust, Treco Ltd, and Aalborg Energie Technik A/s. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy Fuel TypeSolid Biomass
Liquid Biomass
Gaseous Biomass
By End-UseResidential
Commercial
Industrial
By TechnologyDirect Combustion
Gasification
Anaerobic Digestion
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersBabcock & Wilcox Enterprises, Inc
Siemens AG
Valmet
Doosan Enerbility
Thermax Limited
HoSt Energy Systems
Hurst Boiler & Welding Co, Inc
Energy Saving Trust
Treco Ltd
Aalborg Energie Technik a/s