The Global Biomass Market was valued at USD 53.5 Billion in 2021 and is predicted to grow at a CAGR of 6.30% during the forecast period 2023-2032. Biomass is a renewable organic material that comes from animals and plants. It can be burned directly for heat or converted to renewable liquid and gaseous fuels through various processes such as firewood, animal manure, and human sewage, furniture mill sawdust, and others.
Biomass serves as a sustainable and low-carbon alternative to fossil fuels. New developments are aiming at using more biomass fuels which are set to drive the global biomass market growth.
Also, rising needs to regulate the emission of greenhouse gases (GHG) are also a factor rising the demands for the global biomass market.
However, the inadequate biomass management, rise in feedstock costs, and lack of knowledge for utilizing biomass for producing energy among emerging economies are expected to restrain the growth of the global biomass market.
The increasing demand for an environment-friendly renewable source of energy because renewable energy helps to improve public health as well as reduce global warming is opening new opportunities for the key market players operating in the global biomass market.
Mainly, biomass fuels were burned on inefficient open traditional stoves or fires. In some cases, the demand for biomass fuels far offsets sustainable supply which can lead to land degradation, desertification, or deforestation. These are liming the global biomass market in their growth factor.
Impact of COVID-19 on Global Biomass Market
The global pandemic has had a significant impact across the globe. The spread of the infectious virus has led governments across the world to impose strict measures to control the spread by doing regional and national restrictions, lockdowns on international travel as well as practicing social distance.
The prolonged lockdown had a major impact on the energy and biomass energy sector which is decreasing in the demand. As most of the biomass energy comes from the forestry sector which provides residues from processing and harvesting.
However, the stoppage in the transportation sector all the activities for biomass energy market stopped during the pandemic situation. But with the opening of activities by the government guidelines, the global biomass market will also be going to increase its demand during the coming projected period.
Market Segmentation
The global biomass market report has been segmented by application, source, technology, end user, and region.
FIGURE 1: GLOBAL BIOMASS MARKET SEGMENTATION
Global Biomass Market, by Application
Based on application, the global biomass market is bifurcated into cooking, space heating/cooling, heat processing, electricity generation, and others. The heat processing segment is one of the largest markets for global biomass in 2021 and is anticipated to remain the largest market during the forecasted period.
Factors attributing to the growth of the heat processing segment is because mostly biomass is used for heating. In a direct burning system, biomass is burned to create hot gas, which can either be fed into a boiler for generating hot water/stream or be used directly to provide heat or. These factors are driving the global biomass market growth by the heat processing segment.
Global Biomass Market, by Source
Based on source, the global biomass market is segmented into wood pellets, crop residue, energy crops, municipal solid waste (MSW), and others (peat, sawdust). Wood pellets capture the largest market share for global biomass in 2021 and are expected to remain the largest during the forecast period.
Factors attributing to the growth of wood pallets are because they are efficient sources of heat as they contain very low levels of ash and moisture, wood pallets are cost-effective as they are economically competitive with electric heat and home fossil fuel options.
Wood pellets are a sustainable source of fuel, and burning wood pellets is carbon-neutral. These advantage factors are driving the wood pellets segment for the global biomass market.
Global Biomass Market, by Technology
Based on technology, the global biomass market is segmented into combustion, anaerobic digestion, gasification, co-firing & CHP, and landfill gas (LFG). The combustion segment is one of the largest markets for the global biomass market in 2021 and is anticipated to remain largest during the forecast period.
Factors attributing to the growth of the segment are because biomass combustion provides a relatively cheap fuel source, provides self-sufficiency even during blackouts, and also reduces reliance on fossil fuels. These advantages are boosting the combustion segment for the global biomass market.
Global Biomass Market, by End User
Based on end user, the global biomass market is segmented into industrial, institutional, and domestic. The industrial segment is one of the largest markets for global biomass in 2021 for global biomass and is anticipated to remain largest during the forecast period also due to various uses.
Such as the industrial sector use biomass for space heating, electricity generation, hot water heating, and construction of timber are uplifting the industrial segment for the global biomass market.
Global Biomass Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Europe is one of the largest markets for global biomass in 2021 for global biomass and is expected to remain the largest market till the forecast period 2030.
Factors attributing to the growth of the European market for biomass because electricity generation from biomass has remained steady in recent years. It is the third-largest source of renewable energy following hydraulic power and wind power.
Germany is the largest producer of biomass energy with France is the only other country with having an output in excess of ten million tons of oil equivalent. These applications are boosting the global biomass market.
Recent Developments in the Global Biomass Market
- September 2021 – According to the Malaysian Industry-Government Group for High Technology (MIGHT) ‘Biomass to energy’ (BTE) can help Malaysia in meeting green energy goals. The project organized by the EMOG Strategic Group and MIGHT using the method that can reduce greenhouse gases (GHG) and meet sustainable development goals (SDG), as well as provide job opportunities to university graduates.
- September 2021 – The Drax Group decided to become the primary big European power service to mix biomass power with carbon storage and capture in its quest to be carbon negative by 2030. The University of British Columbia conveys that the province’s recent wildfires presses, the necessity for dead wood and debris to be far away from the forest, to potentially convert into wood pellets.
- August 2021 – 24 projects receive government funding to increase biomass production in UK. The project includes increasing yields of grass varieties, growing algae from whisky manufacturing, and accelerating the breeding of willow trees. It is an important part of the green energy mix and building the diversity that will need to achieve the climate change targets of UK.
- August 2021 – Kinder Morgan acquires Kinetrex Energy. These additional renewable natural gas (RNG) opportunities will continue to emerge in the near term and deliver attractive returns to Kinder Morgan’s shareholders.
What Does This Report Provide?
This report provides a detailed understanding of the global biomass market from qualitative, and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market. The major market drivers, challenges, and opportunities for the global biomass market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.
Market Segmentation:
By Application:
- Space Heating/Cooling
- Cooking
- Heat Processing
- Electricity Generation
- Others
By Source:
- Wood Pellets
- Crop Residue
- Energy Crop
- Municipal Solid Waste (MSW)
- Others (Peat, Sawdust)
By Technology:
- Combustion
- Anaerobic Digestion
- Gasification
- Co-firing & CHP
- Landfill Gas (LFG)
By End User:
- Industrial
- Institutional
- Domestic
By Region:
North America Biomass Market
- North America, by Country
-
- U.S
- Canada
- Mexico
- North America, by Application
- North America, by Source
- North America, by Technology
- North America, by End User
Europe Biomass Market
- Europe, by Country
-
- Germany
- U.K
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Europe, by Application
- Europe, by Source
- Europe, by Technology
- Europe, by End User
Asia Pacific Biomass Market
- Asia Pacific, by Country
-
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Asia Pacific, by Application
- Asia Pacific, by Source
- Asia Pacific, by Technology
- Asia Pacific, by End User
Middle East and Africa Biomass Market
- Middle East and Africa, by Country
-
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East and Africa
- Middle East and Africa, by Application
- Middle East and Africa, by Source
- Middle East and Africa, by Technology
- Middle East and Africa, by End User
South America Biomass Market
- South America, by Country
-
- Brazil
- Argentina
- Rest of South America
- South America, by Application
- South America, by Source
- South America, by Technology
- South America, by End User
Major Companies: In this report, the major companies studied are: Mitsubishi Heavy Industries, Ltd., Suez, Xcel Energy Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises, Inc., Ameresco, Veolia, and Vattenfall AB.
Objectives of this Report:
- To estimate the market size for the biomass market on a regional and global basis.
- To identify major segments in the biomass market and evaluate their market shares and demand.
- To provide a competitive scenario for the biomass market with major developments observed by the key companies in the historic years.
- To evaluate key factors governing the dynamics of biomass market with their potential growth during the forecast period.
- To evaluate the leading company-wise pricing analysis for the mentioned applications.
Key Questioned Answered in the Study:
- What are major growth drivers and market trends that impacting on biomass market?
- What the market size both in terms of value and volume for global biomass market?
- Who are leading market players and who are the new market players that operate in the global biomass market with an estimated market share?
- What are the future investment pockets and opportunity in the global biomass market?
- Major list of customers and potential futuristic customer list along with an estimated buying volume
- Impact of COVID-19 on global biomass market
Customization:
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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