Summary

KEY FINDINGS
The global biomass power market is expected to reach $140063.92 million by 2032, growing at a CAGR of 6.32% during the forecast period, 2024-2032. In terms of volume, the market is anticipated to reach 2093.59 million MWh by 2032, progressing with a CAGR of 7.71% across the projection years. The base year considered for the study is 2023, and the estimated period is between 2024 and 2032. The market study has also analyzed the impact of COVID-19 on the global biomass power market qualitatively and quantitatively.
Biomass power plants generate electricity and heat by converting organic materials—such as plant and animal waste, agricultural residues, forestry by-products, and algae—into energy. This renewable and sustainable energy source plays a crucial role in reducing greenhouse gas emissions and decreasing dependence on fossil fuels.
Biomass power technology is increasingly applied in various sectors, including electricity generation, combined heat and power (CHP) systems, and waste management solutions. At the core of this technology lie sustainable biomass feedstocks and advanced conversion systems that often utilize materials like high-grade steel for boilers and turbines, as well as specialized alloys capable of withstanding high temperatures and pressures.
The global biomass power market is experiencing significant growth, driven by increasing demand for clean energy solutions, supportive government policies, and advancements in biomass conversion technologies. As the industry expands, many companies are focusing on enhancing combustion and gasification technologies, optimizing feedstock supply chains, and integrating biomass power into existing energy systems. These efforts support sustainable operations, enhance energy security, and contribute to the diversification of the energy mix while helping to reduce the overall environmental footprint associated with energy production.
MARKET INSIGHTS
Key enablers of the global biomass power market growth:
• Implementation of advanced biomass conversion technologies
• Regulatory and policy reforms are encouraging market growth
• Sustainability initiatives are propelling increased demand for biomass power
o Growing environmental awareness and sustainability initiatives are significantly increasing the demand for renewable energy sources like biomass power. This surge is driven by a combination of global efforts to combat climate change, corporate social responsibility commitments, and stringent environmental regulations aimed at reducing carbon emissions.
o Businesses and governments worldwide are adopting biomass energy to meet sustainability goals and reduce carbon footprints. Many corporations are setting ambitious targets to achieve net-zero emissions, and incorporating biomass power into their energy mix is a strategic move to replace fossil fuels with renewable alternatives. Biomass power not only helps in reducing greenhouse gas emissions but also contributes to a circular economy by utilizing waste materials effectively.
Key restraining factors of the global biomass power market growth:
• Competition from other sectors in securing feedstock supply
o A significant challenge for the biomass power market is the competition for feedstock supplies from other industries like agriculture, forestry, and bio-based product sectors. The scarcity of high-quality biomass feedstock can result in increased costs and add complexities to the supply chain.
o To address this issue and ensure a reliable supply for biomass power plants, it is crucial to develop sustainable feedstock management practices and explore alternative biomass sources such as algal biomass and organic waste.
• Requirement of substantial initial capital investment for biomass energy plants
Global Biomass Power Market | Top Trends
• A significant technology trend in the Biomass power market is the upgrading of existing power plants by incorporating Bioenergy with Carbon Capture and Storage (BECCS). BECCS combines biomass power generation with carbon capture technologies to remove CO₂ from the atmosphere effectively. Biomass absorbs CO₂ during its growth phase, and when used for energy production, the CO₂ released can be captured and stored underground. This process results in negative emissions, meaning it removes more CO₂ from the atmosphere than it emits. Upgrading existing plants with BECCS not only enhances their efficiency but also aligns them with global climate goals. According to the Intergovernmental Panel on Climate Change (IPCC), BECCS is considered a crucial technology for achieving net-zero emissions and limiting global warming to 1.5°C above pre-industrial levels.
• Another emerging trend is the integration of bioenergy with other renewable energy systems like wind and solar to create hybrid power solutions. Combining biomass power with intermittent renewable sources enhances grid stability and reliability. While wind and solar energy are weather-dependent and can fluctuate, bioenergy provides a steady and controllable power output. This synergy allows for a more consistent energy supply, optimizing the use of renewable resources. Hybrid systems can store excess energy produced during peak periods and dispatch it when needed, improving overall energy efficiency. This integrated approach not only maximizes renewable energy utilization but also accelerates the transition toward a more resilient and sustainable energy infrastructure.
SEGMENTATION ANALYSIS
Market Segmentation – Feedstock, Technology, and Application –
Market by Feedstock:
• Solid Biomass
o Solid biomass is the most traditional and widely used form of biomass feedstock in the biomass power industry. It comprises plant-based materials such as agricultural residues (like crop stalks, straw, and husks), forestry by-products (including wood chips, sawdust, and bark), and purpose-grown energy crops like switchgrass, miscanthus, and willow. These resources are abundant, renewable, and can be sustainably harvested, ensuring a consistent supply of feedstock for bioenergy generation.
o Solid biomass is primarily utilized in combustion processes, where it is burned under controlled conditions to produce heat and electricity. Advances in combustion technologies have improved efficiency and reduced emissions, making this method more environmentally friendly.
o Additionally, solid biomass can undergo gasification—a process that transforms it into syngas, a mixture of carbon monoxide, hydrogen, and methane—by reacting the material at high temperatures with a controlled amount of oxygen or steam. Syngas can then be used for electricity generation or biofuel production, offering greater efficiency compared to direct combustion.
• Liquid Biomass
• Biogas
• Municipal Solid Waste
Market by Technology:
• Combustion
• Anaerobic Digestion
• Gasification
• Co-Firing and CHP
• Landfill Gas (LFG)
Market by Application:
• Industrial
• Commercial
• Residential
REGIONAL ANALYSIS
Geographical Study based on Four Major Regions:
• North America: The United States and Canada
• Europe: Germany, the United Kingdom, France, Italy, Spain, Poland, Belgium, and Rest of Europe
• Asia-Pacific: China, Japan, India, Australia & New Zealand, South Korea, Malaysia, Indonesia, Vietnam, and Rest of Asia-Pacific
o Asia, particularly countries like China, India, Japan, and South Korea, is experiencing significant growth in the adoption of biomass power technology. The abundant availability of agricultural residues, forestry by-products, and organic waste in these countries provides ample feedstock for biomass power generation. This not only aids in waste management but also supports rural economies and enhances energy security by reducing reliance on fossil fuels.
o Governments in Asia are heavily investing in biomass power infrastructure and technology as part of their broader environmental and energy strategies. For instance, China’s Renewable Energy Law promotes the development of biomass power projects, offering subsidies and favorable policies to attract investment.
o India’s National Bioenergy Programme aims to increase biomass energy production by supporting projects that utilize agricultural and urban waste. These initiatives are fostering the expansion of the biomass power market, encouraging technological advancements, and promoting sustainable practices to meet rising energy demands while reducing carbon emissions.
• Rest of World: Latin America, and the Middle East & Africa
COMPETITIVE INSIGHTS
The major players in the global biomass power market are:
• Acciona SA
• Ameresco Inc
• Babcock & Wilcox Enterprises Inc
• Cemex
• Drax Group PLC
• Enel Green Power
Key strategies adopted by some of these companies:
• In 2022, Drax announced plans to construct the world’s largest Bioenergy with Carbon Capture and Storage (BECCS) project at its power station in North Yorkshire. This multi-billion-pound initiative aims to permanently remove at least 8 million tons of CO₂ annually once operational. Construction is expected to begin in 2024, marking a significant advancement towards Drax’s goal of becoming a carbon-negative company by 2030.
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Frequently Asked Questions (FAQs) –
• What is biomass power?
A: Biomass power is the generation of energy from organic materials, such as wood, agricultural residues, and other biological waste. These materials, known as biomass, are burned or converted to produce heat, electricity, or fuel.

• What are the key materials used in biomass power generation?
A: The key materials used in biomass power generation are various forms of solid biomass feedstocks. These include agricultural residues like crop stalks, straw, and husks; forestry by-products such as wood chips, sawdust, and bark; purpose-grown energy crops like switchgrass, miscanthus, and willow; and organic waste materials.

• How does biomass produce energy?
A: Biomass produces energy through several methods. The most common involves direct combustion, where organic material is burned to produce heat, which is then used to generate steam and power turbines to create electricity. Other methods include anaerobic digestion, which breaks down organic material to produce biogas, and gasification, where biomass is converted into a gas that can be used for power generation.

• Is biomass power renewable?
A: Yes, biomass power is considered renewable. This is because it relies on organic materials—like plants, crops, and waste products—that can be regrown or replenished through natural processes. As long as biomass is sustainably sourced, it can be continually replenished, making it a renewable energy source.

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Table of Contents

TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.4.1. IMPACT OF COVID-19 ON THE BIOMASS POWER MARKET
2.5. MAJOR MARKET FINDINGS
2.5.1. SOLID BIOMASS WAS FOUND TO BE THE MOST WIDELY USED FEEDSTOCK
2.5.2. COMBUSTION IS THE LEADING TECHNOLOGY IN THE BIOMASS MARKET
2.5.3. INDUSTRIAL APPLICATIONS ARE BOOSTING BIOMASS UTILIZATION
2.5.4. ENVIRONMENTAL CONCERNS ARE FUELING MARKET EXPANSION
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. IMPLEMENTATION OF ADVANCED BIOMASS CONVERSION TECHNOLOGIES
3.1.2. REGULATORY AND POLICY REFORMS ARE ENCOURAGING MARKET GROWTH
3.1.3. SUSTAINABILITY INITIATIVES ARE PROPELLING INCREASED DEMAND FOR BIOMASS POWER
3.2. KEY RESTRAINTS
3.2.1. COMPETITION FROM OTHER SECTORS IN SECURING FEEDSTOCK SUPPLY
3.2.2. REQUIREMENT OF SUBSTANTIAL INITIAL CAPITAL INVESTMENT FOR BIOMASS ENERGY PLANTS
4. KEY ANALYTICS
4.1. PARENT MARKET ANALYSIS
4.2. KEY TECHNOLOGY TRENDS
4.2.1. UPGRADATION OF EXISTING POWER PLANTS BY INCORPORATING BIOENERGY WITH CARBON CAPTURE AND STORAGE
4.2.2. COMBINING BIOENERGY WITH OTHER RENEWABLE ENERGY SYSTEMS
4.3. PORTER’S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR NORTH AMERICA
4.4.2. GROWTH PROSPECT MAPPING FOR EUROPE
4.4.3. GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
4.4.4. GROWTH PROSPECT MAPPING FOR REST OF WORLD
4.5. MARKET MATURITY ANALYSIS
4.6. MARKET CONCENTRATION ANALYSIS
4.7. VALUE CHAIN ANALYSIS
4.7.1. FEEDSTOCK PROCUREMENT
4.7.2. FEEDSTOCK PROCESSING AND PREPARATION
4.7.3. POWER GENERATION THROUGH CONVERSION TECHNOLOGIES
4.7.4. TRANSMISSION AND DISTRIBUTION TO END-USER
4.8. KEY BUYING CRITERIA
4.8.1. FEEDSTOCK AVAILABILITY
4.8.2. CAPITAL INVESTMENT AND RELATED COSTS
4.8.3. TECHNOLOGICAL FEASIBILITY
4.8.4. REGULATORY AND FINANCIAL SUPPORT
4.9. BIOMASS POWER MARKET REGULATORY FRAMEWORK
5. MARKET BY FEEDSTOCK (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION MWH)
5.1. SOLID BIOMASS
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. LIQUID BIOMASS
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
5.3. BIOGAS
5.3.1. MARKET FORECAST FIGURE
5.3.2. SEGMENT ANALYSIS
5.4. MUNICIPAL SOLID WASTE
5.4.1. MARKET FORECAST FIGURE
5.4.2. SEGMENT ANALYSIS
6. MARKET BY TECHNOLOGY
6.1. COMBUSTION
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. ANAEROBIC DIGESTION
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. GASIFICATION
6.3.1. MARKET FORECAST FIGURE
6.3.2. SEGMENT ANALYSIS
6.4. CO-FIRING AND CHP
6.4.1. MARKET FORECAST FIGURE
6.4.2. SEGMENT ANALYSIS
6.5. LANDFILL GAS (LFG)
6.5.1. MARKET FORECAST FIGURE
6.5.2. SEGMENT ANALYSIS
7. MARKET BY APPLICATION
7.1. INDUSTRIAL
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. COMMERCIAL
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
7.3. RESIDENTIAL
7.3.1. MARKET FORECAST FIGURE
7.3.2. SEGMENT ANALYSIS
8. GEOGRAPHICAL ANALYSIS (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION MWH)
8.1. NORTH AMERICA
8.1.1. MARKET SIZE & ESTIMATES
8.1.2. NORTH AMERICA BIOMASS POWER MARKET DRIVERS
8.1.3. NORTH AMERICA BIOMASS POWER MARKET CHALLENGES
8.1.4. KEY PLAYERS IN NORTH AMERICA BIOMASS POWER MARKET
8.1.5. COUNTRY ANALYSIS
8.1.5.1. UNITED STATES
8.1.5.1.1. UNITED STATES BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.1.5.2. CANADA
8.1.5.2.1. CANADA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2. EUROPE
8.2.1. MARKET SIZE & ESTIMATES
8.2.2. EUROPE BIOMASS POWER MARKET DRIVERS
8.2.3. EUROPE BIOMASS POWER MARKET CHALLENGES
8.2.4. KEY PLAYERS IN EUROPE BIOMASS POWER MARKET
8.2.5. COUNTRY ANALYSIS
8.2.5.1. GERMANY
8.2.5.1.1. GERMANY BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2.5.2. UNITED KINGDOM
8.2.5.2.1. UNITED KINGDOM BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2.5.3. FRANCE
8.2.5.3.1. FRANCE BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2.5.4. ITALY
8.2.5.4.1. ITALY BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2.5.5. SPAIN
8.2.5.5.1. SPAIN BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2.5.6. POLAND
8.2.5.6.1. POLAND BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2.5.7. BELGIUM
8.2.5.7.1. BELGIUM BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.2.5.8. REST OF EUROPE
8.2.5.8.1. REST OF EUROPE BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3. ASIA-PACIFIC
8.3.1. MARKET SIZE & ESTIMATES
8.3.2. ASIA-PACIFIC BIOMASS POWER MARKET DRIVERS
8.3.3. ASIA-PACIFIC BIOMASS POWER MARKET CHALLENGES
8.3.4. KEY PLAYERS IN ASIA-PACIFIC BIOMASS POWER MARKET
8.3.5. COUNTRY ANALYSIS
8.3.5.1. CHINA
8.3.5.1.1. CHINA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.2. JAPAN
8.3.5.2.1. JAPAN BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.3. INDIA
8.3.5.3.1. INDIA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.4. AUSTRALIA & NEW ZEALAND
8.3.5.4.1. AUSTRALIA & NEW ZEALAND BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.5. SOUTH KOREA
8.3.5.5.1. SOUTH KOREA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.6. MALAYSIA
8.3.5.6.1. MALAYSIA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.7. INDONESIA
8.3.5.7.1. INDONESIA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.8. VIETNAM
8.3.5.8.1. VIETNAM BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.3.5.9. REST OF ASIA-PACIFIC
8.3.5.9.1. REST OF ASIA-PACIFIC BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.4. REST OF WORLD
8.4.1. MARKET SIZE & ESTIMATES
8.4.2. REST OF WORLD BIOMASS POWER MARKET DRIVERS
8.4.3. REST OF WORLD BIOMASS POWER MARKET CHALLENGES
8.4.4. KEY PLAYERS IN REST OF WORLD BIOMASS POWER MARKET
8.4.5. REGIONAL ANALYSIS
8.4.5.1. LATIN AMERICA
8.4.5.1.1. LATIN AMERICA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.4.5.2. MIDDLE EAST & AFRICA
8.4.5.2.1. MIDDLE EAST & AFRICA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
9. COMPETITIVE LANDSCAPE
9.1. KEY STRATEGIC DEVELOPMENTS
9.1.1. MERGERS & ACQUISITIONS
9.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
9.1.3. PARTNERSHIPS & AGREEMENTS
9.1.4. BUSINESS EXPANSIONS AND DIVESTITURES
9.2. COMPANY PROFILES
9.2.1. ACCIONA SA
9.2.1.1. COMPANY OVERVIEW
9.2.1.2. PRODUCTS
9.2.1.3. STRENGTHS & CHALLENGES
9.2.2. AMERESCO INC
9.2.2.1. COMPANY OVERVIEW
9.2.2.2. PRODUCTS
9.2.2.3. STRENGTHS & CHALLENGES
9.2.3. BABCOCK & WILCOX ENTERPRISES INC
9.2.3.1. COMPANY OVERVIEW
9.2.3.2. PRODUCTS
9.2.3.3. STRENGTHS & CHALLENGES
9.2.4. CEMEX
9.2.4.1. COMPANY OVERVIEW
9.2.4.2. PRODUCTS
9.2.4.3. STRENGTHS & CHALLENGES
9.2.5. DRAX GROUP PLC
9.2.5.1. COMPANY OVERVIEW
9.2.5.2. PRODUCTS
9.2.5.3. STRENGTHS & CHALLENGES
9.2.6. ENEL GREEN POWER
9.2.6.1. COMPANY OVERVIEW
9.2.6.2. PRODUCTS
9.2.6.3. STRENGTHS & CHALLENGES
9.2.7. ENVITEC BIOGAS AG
9.2.7.1. COMPANY OVERVIEW
9.2.7.2. PRODUCTS
9.2.7.3. STRENGTHS & CHALLENGES
9.2.8. ENVIVA PARTNERS LP
9.2.8.1. COMPANY OVERVIEW
9.2.8.2. PRODUCTS
9.2.8.3. STRENGTHS & CHALLENGES
9.2.9. GENERAL ELECTRIC COMPANY
9.2.9.1. COMPANY OVERVIEW
9.2.9.2. PRODUCTS
9.2.9.3. STRENGTHS & CHALLENGES
9.2.10. HITACHI ZOSEN CORPORATION
9.2.10.1. COMPANY OVERVIEW
9.2.10.2. PRODUCTS
9.2.10.3. STRENGTHS & CHALLENGES
9.2.11. MITSUBISHI HEAVY INDUSTRIES LTD
9.2.11.1. COMPANY OVERVIEW
9.2.11.2. PRODUCTS
9.2.11.3. STRENGTHS & CHALLENGES
9.2.12. ØRSTED A/S
9.2.12.1. COMPANY OVERVIEW
9.2.12.2. PRODUCTS
9.2.12.3. STRENGTHS & CHALLENGES
9.2.13. RAÍZEN SA
9.2.13.1. COMPANY OVERVIEW
9.2.13.2. PRODUCTS
9.2.13.3. STRENGTHS & CHALLENGES
9.2.14. RAMBOLL GROUP AS
9.2.14.1. COMPANY OVERVIEW
9.2.14.2. PRODUCTS
9.2.14.3. STRENGTHS & CHALLENGES
9.2.15. SIEMENS ENERGY AG
9.2.15.1. COMPANY OVERVIEW
9.2.15.2. PRODUCTS
9.2.15.3. STRENGTHS & CHALLENGES