North America Biomass Power Market Forecast 2022-2030

North America Biomass Power Market Forecast 2022-2030

KEY FINDINGS

The North America biomass power market is anticipated to rise with a CAGR of 6.35% in terms of volume and 5.83% in terms of revenue over the forecast period of 2022 to 2030. The market growth of the region is propelled by key factors such as favorable policies and regulations, the rising focus on renewable energy due to an increase in environmental concerns, and the growing availability of biomass feedstock.

MARKET INSIGHTS

The North America biomass power market growth analysis entails the assessment of Canada and the United States. As per the United States electricity provider Atlantic Power (Canada), the power purchase agreement for the Calstock biomass facility in Ontario is set to be extended for an additional year beginning in December 2020. Owing to an order from the Provincial Government of Ontario as well as the requirements of stakeholders such as Atlantic Electricity in order to assess the potential role of biomass power, this power purchase agreement’s initial expiration date was extended to December 2020 from June 2020.

On the other hand, the inclusion of new biomass power plants in Canada is expected to propel the growth of the biomass power market in the country. For example, in February 2020, Mitsubishi Heavy Industries announced the provision of a biomass power generation system to the indigenous First Nations of Canada. With a capacity of 8,000 kW, the system would utilize sawmill residual woody biomass as a fuel. Therefore, the abovementioned factors are anticipated to augment the North America biomass power market growth during the forecasted years.

COMPETITIVE INSIGHTS

Leading companies operating in the market are Xcel Energy Inc, General Electric Company, Ameresco Inc, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments