Global Biomass Heating Plant Market Size study & Forecast, by Type (Combustion, Gasification) by Application (Power Generation, Heat Distribution) and Regional Analysis, 2023-2030

Global Biomass Heating Plant Market Size study & Forecast, by Type (Combustion, Gasification) by Application (Power Generation, Heat Distribution) and Regional Analysis, 2023-2030

Global Biomass Heating Plant Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A biomass heating plant represents an innovative approach to sustainable energy production, harnessing the power of organic materials derived from plants, animals, or household waste to generate heat or electricity. These plants are at the forefront of eco-friendly energy solutions, utilizing biomass materials like sawdust, wood chips, agricultural residues, and specifically cultivated energy crops. Their widespread deployment across diverse sectors including hospitals, commercial buildings, universities, and farms underscores their pivotal role in reducing carbon emissions. The Biomass Heating Plant market is expanding because of factors such as rising environmental awareness, increasing adoption of renewable sources for energy generation, and favorable government policies and incentives toward sustainable waste management.

The rising adoption of renewable energy sources for electricity generation amplifies the demand for biomass heating plants by emphasizing their role as a sustainable and environmentally friendly energy solution. As the transition to a low-carbon future accelerates, biomass heating plants are poised to play an increasingly vital role in meeting the world's energy needs while reducing greenhouse gas emissions. According to International Energy agency, looking towards 2026, there's a striking projection for the global renewable electricity capacity, anticipated to surge by over 60% compared to 2020 levels, surpassing 4,800 gigawatts (GW). This milestone mirrors the total global power capacity derived from fossil fuels and nuclear energy combined. Renewable sources are poised to lead this expansion, contributing to almost 95% of the global power capacity increase up to 2026. Thus, rising adoption of renewable sources for energy generation is driving Biomass Heating Plant Market. In addition, rising government support for the adoption and promotion of biomass heating plants as well as availability of biomass resources are creating new opportunities to the market growth. However, the high initial investment and fuel availability and supply chain challenges stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Biomass Heating Plant Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing embrace of renewable energy sources and concerted efforts to mitigate carbon emissions. The region has implemented progressive policies and regulations aimed at promoting the use of renewable energy, including biomass. Governments have introduced supportive measures such as policies, incentives, and tax benefits to spur the development of biomass heating plants. In the Asia Pacific region, particularly in rapidly industrializing and urbanizing countries like China, India, and Japan, there's a notable surge in biomass heating plant adoption. This growth is propelled by increasing urbanization, industrial development, and a heightened focus on green energy solutions. Additionally, the region's burgeoning population adds impetus to the demand for sustainable energy alternatives.

Major market player included in this report are:
Thermax Limited
Babcock & Wilcox Enterprises
Forbes Marshall
Hurst Boiler & Welding Co.
John Cockerill
John Wood Group PLC
Sofinter S.p.a
Walchandnagar Industries
VIESSMANN
Fröling Heizkessel- und Behälterbau Ges.m.b.H.

Recent Developments in the Market:
 In January 2022, UCED Group revealed its acquisition of EC Biowatt, a prominent biomass facility in the Czech Republic. This strategic move aims to fortify UCED's biomass heating plant division, enhancing its research and development capabilities.
 In May 2021, ALTRI SGPS disclosed that its subsidiary, GREENVOLT, had finalized an agreement to purchase Tilbury Green Power Holdings. This acquisition encompasses a renewable biomass power plant situated in the port of Tilbury, England, boasting a net design capacity of 43.6 MW.

Global Biomass Heating Plant Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Combustion
Gasification

By Application:
Power Generation
Heat Distribution

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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