Summary

According to Triton’s research report, the biomass power market in the Asia-Pacific is estimated to expand in terms of revenue at a CAGR of 6.70% over the forecast years 2024-2032.
The biomass power market in the Asia-Pacific region is witnessing significant growth due to increasing energy demand, abundant availability of biomass resources, and supportive government policies promoting renewable energy. Rapid industrialization, urbanization, and economic development are driving the need for sustainable and reliable energy sources. Biomass power is being adopted across various sectors to reduce greenhouse gas emissions, enhance energy security, and support rural development. Advances in biomass conversion technologies and investments in infrastructure are expected to further propel the biomass power market’s expansion in the coming years.
The countries examined in this region include China, Japan, India, South Korea, ASEAN Countries, Australia & New Zealand, and Rest of Asia-Pacific.
China holds the largest market share, achieving around $13339.66 million in 2023.
● China’s biomass energy sector has seen significant growth, as its installed biomass power capacity reached 44.14 GW in 2023.

● The country’s biomass resources are abundant, with around 3.5 billion metric tons of raw biomass materials produced annually, including agricultural waste, forestry residues, and organic waste from urban areas. Of this, about 500 million tons are currently used for energy production.

● With an extensive agricultural sector producing large quantities of residues and forestry waste, it offers a rich feedstock for biomass power generation. Thus, China aims to expand its biomass capacity further, targeting 50 GW by 2030, thereby leading to the expansion of biomass power plants in the coming years.
Biomass Power Market Forecast for India
India is gaining prominent traction in the biomass power market, with the government’s focus on renewable energy and rural development projects. The National Biofuel Policy promotes the production and utilization of biofuels derived from non-food feedstocks, including agricultural waste. The country’s large agricultural sector produces vast amounts of biomass waste, such as bagasse, rice husks, and cotton stalks, which can be efficiently converted into energy. Government incentives, including financial support through capital subsidies and preferential tariffs, further encourage investments in biomass power projects.
The biomass power market is segmented by feedstock, technology, and application. Based on feedstock, it is further classified into liquid biomass, biogas, solid biomass, and municipal solid waste. Liquid biomass, derived from organic materials such as vegetable oils, animal fats, and bioethanol, serves as a versatile feedstock in the biomass power market. It is primarily used to generate heat and electricity, often in decentralized power systems. Its adaptability to existing energy infrastructure makes it a practical choice for transitioning to renewable energy sources.
Contender Analysis in the Biomass Power Market
Mitsubishi Heavy Industries Ltd (MHI), a Japanese multinational engineering and electronics company, plays a significant role in the biomass power market. Its portfolio includes biomass power systems such as boilers and turbines designed for biomass fuels, Integrated Gasification Combined Cycle (IGCC) systems, and environmental solutions for emissions control and waste treatment. Additionally, MHI offers Engineering, Procurement, and Construction (EPC) services for biomass power plants.
Recently, the company completed a 50MW Woody biomass power plant in Hyuga, Miyazaki Prefecture, to support the localities with advanced power generation technology.
Other key contenders in the market include General Electric Company, Raízen Sa, Ramboll Group AS, Hitachi Zosen Corporation, Ørsted A/S, etc.

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Table of Contents

TABLE OF CONTENTS
1. ASIA-PACIFIC BIOMASS POWER MARKET - SUMMARY
2. INDUSTRY OUTLOOK
2.1. IMPACT ANALYSIS ON THE BIOMASS POWER MARKET
2.1.1. COVID-19 IMPACT ON THE BIOMASS POWER MARKET
2.2. PORTER’S FIVE FORCES ANALYSIS
2.2.1. THREAT OF NEW ENTRANTS
2.2.2. THREAT OF SUBSTITUTES
2.2.3. BARGAINING POWER OF BUYERS
2.2.4. BARGAINING POWER OF SUPPLIERS
2.2.5. THREAT OF COMPETITIVE RIVALRY
2.3. REGULATORY OUTLOOK
2.4. SUPPLY CHAIN ANALYSIS
2.4.1. PLANTATION AND HARVESTING
2.4.2. FEEDSTOCK PROCESSING
2.4.3. LOGISTICS
2.4.4. POWER GENERATION TECHNOLOGIES
2.4.5. ENERGY DISTRIBUTION
2.4.6. END-USER CONSUMPTION
2.4.7. REGULATORY AND SUPPORT FRAMEWORKS
2.5. KEY BUYING IMPACT ANALYSIS
2.5.1. PLANTATION AND HARVESTING
2.5.2. FEEDSTOCK PROCESSING
2.5.3. LOGISTICS
2.5.4. POWER GENERATION TECHNOLOGIES
2.5.5. ENERGY DISTRIBUTION
2.6. KEY MARKET STRATEGIES
2.6.1. CONTRACTS AND PARTNERSHIPS
2.6.2. PRODUCT LAUNCHES
2.6.3. ACQUISITIONS
2.6.4. BUSINESS DIVESTITURES & EXPANSIONS
2.7. MARKET DRIVERS
2.7.1. USE OF ADVANCED BIOMASS CONVERSION TECHNOLOGIES
2.7.2. REGULATORY AND POLICY CHANGES SUPPORTING GROWTH
2.7.3. SUSTAINABILITY INITIATIVES DRIVING DEMAND
2.8. MARKET CHALLENGES
2.8.1. COMPETITION FROM OTHER INDUSTRIES IN PROCURING FEEDSTOCK SUPPLY
2.8.2. HIGH INITIAL CAPITAL INVESTMENT ASSOCIATED WITH BIOMASS ENERGY PLANTS
2.9. MARKET OPPORTUNITIES
2.9.1. RETROFITTING EXISTING POWERPLANTS WHILE INTEGRATING BIOENERGY WITH CARBON CAPTURE AND STORAGE
2.9.2. INTEGRATION WITH OTHER RENEWABLE ENERGY SYSTEMS
2.10. ANALYST PERSPECTIVE
3. ASIA-PACIFIC BIOMASS POWER MARKET - BY FEEDSTOCK
3.1. SOLID BIOMASS
3.2. LIQUID BIOMASS
3.3. BIOGAS
3.4. MUNICIPAL SOLID WASTE
4. ASIA-PACIFIC BIOMASS POWER MARKET – BY TECHNOLOGY
4.1. COMBUSTION
4.2. ANAEROBIC DIGESTION
4.3. GASIFICATION
4.4. CO-FIRING & CHP
4.5. LANDFILL GAS (LFG)
5. ASIA-PACIFIC BIOMASS POWER MARKET – BY APPLICATION
5.1. INDUSTRIAL
5.2. COMMERCIAL
5.3. RESIDENTIAL
6. ASIA-PACIFIC BIOMASS POWER MARKET – BY COUNTRY OUTLOOK
6.1. ASIA-PACIFIC
6.1.1.1. CHINA
6.1.1.1.1. CHINA BIOMASS POWER MARKET FORECAST & PROSPECTS
6.1.1.2. JAPAN
6.1.1.2.1. JAPAN BIOMASS POWER MARKET FORECAST & PROSPECTS
6.1.1.3. INDIA
6.1.1.3.1. INDIA BIOMASS POWER MARKET FORECAST & PROSPECTS
6.1.1.4. ASEAN COUNTRIES
6.1.1.4.1. ASEAN COUNTRIES BIOMASS POWER MARKET FORECAST & PROSPECTS
6.1.1.5. AUSTRALIA & NEW ZEALAND
6.1.1.5.1. AUSTRALIA & NEW ZEALAND BIOMASS POWER MARKET FORECAST & PROSPECTS
6.1.1.6. SOUTH KOREA
6.1.1.6.1. SOUTH KOREA BIOMASS POWER MARKET FORECAST & PROSPECTS
6.1.1.7. REST OF ASIA-PACIFIC
7. COMPETITIVE LANDSCAPE
7.1. ACCIONA SA
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.1.3. KEY STRENGTHS
7.1.4. KEY CHALLENGES
7.2. AMERESCO INC
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.2.3. KEY STRENGTHS
7.2.4. KEY CHALLENGES
7.3. BABCOCK & WILCOX ENTERPRISES INC
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.3.3. KEY STRENGTHS
7.3.4. KEY CHALLENGES
7.4. CEMEX SAB DE CV
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.4.3. KEY STRENGTHS
7.4.4. KEY CHALLENGES
7.5. DRAX GROUP PLC
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.5.3. KEY STRENGTHS
7.5.4. KEY CHALLENGES
7.6. ENEL GREEN POWER SPA
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.6.3. KEY STRENGTHS
7.6.4. KEY CHALLENGES
7.7. ENVITEC BIOGAS AG
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.7.3. KEY STRENGTHS
7.7.4. KEY CHALLENGES
7.8. ENVIVA INC
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY STRENGTHS
7.8.4. KEY CHALLENGES
7.9. GENERAL ELECTRIC COMPANY
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.9.3. KEY STRENGTHS
7.9.4. KEY CHALLENGES
7.10. HITACHI ZOSEN CORPORATION
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.10.3. KEY STRENGTHS
7.10.4. KEY CHALLENGES
7.11. MITSUBISHI HEAVY INDUSTRIES, LTD.
7.11.1. OVERVIEW
7.11.2. PORTFOLIO
7.11.3. KEY STRENGTHS
7.11.4. KEY CHALLENGES
7.12. ØRSTED A/S
7.12.1. OVERVIEW
7.12.2. PORTFOLIO
7.12.3. KEY STRENGTHS
7.12.4. KEY CHALLENGES
7.13. RAÍZEN SA
7.13.1. OVERVIEW
7.13.2. PORTFOLIO
7.13.3. KEY STRENGTHS
7.13.4. KEY CHALLENGES
7.14. RAMBOLL GROUP AS
7.14.1. OVERVIEW
7.14.2. PORTFOLIO
7.14.3. KEY STRENGTHS
7.14.4. KEY CHALLENGES
7.15. SIEMENS ENERGY AG
7.15.1. OVERVIEW
7.15.2. PORTFOLIO
7.15.3. KEY STRENGTHS
7.15.4. KEY CHALLENGES
7.16. SUEZ SA
7.16.1. OVERVIEW
7.16.2. PORTFOLIO
7.16.3. KEY STRENGTHS
7.16.4. KEY CHALLENGES
7.17. VALMET OYJ
7.17.1. OVERVIEW
7.17.2. PORTFOLIO
7.17.3. KEY STRENGTHS
7.17.4. KEY CHALLENGES
7.18. VEOLIA ENVIRONNEMENT SA
7.18.1. OVERVIEW
7.18.2. PORTFOLIO
7.18.3. KEY STRENGTHS
7.18.4. KEY CHALLENGES
7.19. XCEL ENERGY INC
7.19.1. OVERVIEW
7.19.2. PORTFOLIO
7.19.3. KEY STRENGTHS
7.19.4. KEY CHALLENGES
8. RESEARCH METHODOLOGY & SCOPE
8.1. RESEARCH SCOPE & DELIVERABLES
8.2. SOURCES OF DATA
8.3. RESEARCH METHODOLOGY








LIST OF TABLES
TABLE 1: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 2: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN MILLION MWH)
TABLE 3: REGULATORY OUTLOOK
TABLE 4: LIST OF PRODUCT LAUNCHES
TABLE 5: LIST OF ACQUISITIONS
TABLE 6: LIST OF BUSINESS DIVESTITURES & EXPANSIONS
TABLE 7: ASIA-PACIFIC BIOMASS POWER MARKET, BY FEEDSTOCK, 2024-2032 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC BIOMASS POWER MARKET, BY FEEDSTOCK, 2024-2032 (IN MILLION MWH)
TABLE 9: ASIA-PACIFIC BIOMASS POWER MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE 10: ASIA-PACIFIC BIOMASS POWER MARKET, BY APPLICATION, 2024-2032 (IN $ MILLION)
TABLE 11: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)

LIST OF FIGURES:
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: KEY BUYING IMPACT ANALYSIS
FIGURE 3: SUPPLY CHAIN ANALYSIS
FIGURE 4: ASIA-PACIFIC BIOMASS POWER MARKET, BY FEEDSTOCK, 2023 & 2032 (IN %)
FIGURE 5: ASIA-PACIFIC BIOMASS POWER MARKET, BY SOLID BIOMASS, 2024-2032 (IN $ MILLION)
FIGURE 6: ASIA-PACIFIC BIOMASS POWER MARKET, BY LIQUID BIOMASS, 2024-2032 (IN $ MILLION)
FIGURE 7: ASIA-PACIFIC BIOMASS POWER MARKET, BY BIOGAS, 2024-2032 (IN $ MILLION)
FIGURE 8: ASIA-PACIFIC BIOMASS POWER MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE 9: ASIA-PACIFIC BIOMASS POWER MARKET, BY COMBUSTION, 2024-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC BIOMASS POWER MARKET, BY ANAEROBIC DIGESTION, 2024-2032 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC BIOMASS POWER MARKET, BY GASIFICATION, 2024-2032 (IN $ MILLION)
FIGURE 12: ASIA-PACIFIC BIOMASS POWER MARKET, BY CO-FIRING & CHP, 2024-2032 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC BIOMASS POWER MARKET, BY LANDFILL GAS (LFG), 2024-2032 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC BIOMASS POWER MARKET, BY APPLICATION, 2023 & 2032 (IN %)
FIGURE 15: ASIA-PACIFIC BIOMASS POWER MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC BIOMASS POWER MARKET, BY COMMERCIAL, 2024-2032 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC BIOMASS POWER MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 19: CHINA BIOMASS POWER MARKET 2024-2032 (IN $ MILLION)
FIGURE 20: JAPAN BIOMASS POWER MARKET 2024-2032 (IN $ MILLION)
FIGURE 21: SOUTH KOREA BIOMASS POWER MARKET 2024-2032 (IN $ MILLION)
FIGURE 22: INDIA BIOMASS POWER MARKET 2024-2032 (IN $ MILLION)
FIGURE 23: ASEAN COUNTRIES BIOMASS POWER MARKET 2024-2032 (IN $ MILLION)
FIGURE 24: AUSTRALIA & NEW ZEALAND BIOMASS POWER MARKET 2024-2032 (IN $ MILLION)
FIGURE 25: REST OF ASIA-PACIFIC BIOMASS POWER MARKET 2024-2032 (IN $ MILLION)