Biomass Boiler Market is expected to register exponential growth

According to the latest research report published by Market Data Forecast, the global biomass boiler market size is estimated at US$ 6.74 billion in 2023 to reach a revised size of US$ 18.32 billion by 2029, growing at a CAGR of 18.12% during the forecast period 2024-2029.

The biomass boiler is defined as a biomass heating system. It generates heat by burning agricultural and forestry residues, burning logs, wood pellets, and more. It produces heat mainly by burning wood. Biomass boilers are widely employed by hotels, farms, homes, and others. In addition, biomass boilers help reduce greenhouse gas emissions due to their low carbon footprint. Biomass boilers are employed to burn logs, chips, or pellets to generate heat to heat water or electrically heat.

Global Biomass Boiler Market Report Scope:

• Market Size (2029): USD 18.32 billion
• Market Size (2023): USD 6.74 billion
• CAGR (2024 to 2029): 18.32%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Feedstock, Technology, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Alstom, Amec Foster Wheeler, Baxi, Eco Vision, Hurst, Bharat Heavy Electricals, Ansaldo, Siemens, Innasol Limited, WDS Green Energy Limited, Dongfang Electric, Mitsubishi Hitachi Power Sytems, IHI, Harbin Electric, Doosan Heavy Industries, Thermax, and Others.

Market Drivers:

The biomass boiler market is driven by the growing emphasis on sustainable practices and renewable energy on a global scale. In addition, governments and regulatory agencies are forming supportive laws and incentives to encourage the use of renewable energy. This provides attractive opportunities. Also, the installation of these boilers is affected by favourable policies such as grants, tax credits, renewable energy targets and feed-in tariffs.
The increasing focus on carbon reduction and the stringent government rules aimed at lowering greenhouse gas emissions will improve the corporate landscape. Additionally, there is a growing consumer knowledge of the benefits of using inexpensive and energy-efficient heating systems, which will influence the expansion of the business. The growing focus on the global implementation of clean energy and the development of policies and financial incentives to support this endeavour will improve the business picture.
The expansion of the biomass boiler market in Asia Pacific is ascribed to the increasing focus on biomass co-firing and conversion as tactics for shifting to renewable energy sources. Furthermore, the implementation of comprehensive supply chains for biomass, encompassing networks for collection, facilities for storage, and infrastructure for transportation, guarantees a dependable and sustainable supply of biomass fuel, hence promoting the penetration of the product.

Market Restraints:

However, the significant expenses associated with installing and maintaining biomass boilers may limit the market's ability to grow income. Furthermore, the availability of less priced alternatives like propane and natural gas may partially impede the market's potential to grow in terms of revenue.
Furthermore, the combustion systems used in biomass boilers produce ash deposition and emit pollutants, which puts the quality of the air in populated areas at risk. Their deployment is influenced by community approval and local legislation.
Installations of biomass boilers face difficulties due to public opinion and tighter pollution regulations. Installations of biomass boilers have difficulties because of air quality concerns brought on by particulate matter, nitrogen oxides (NO), carbon monoxide (CO), and volatile organic compounds (VOCs), particularly in densely populated areas. Their implementation is heavily reliant on acceptance in the community and local restrictions.
It takes proper ash management and disposal to keep efficiency high and maintenance low.
Regulations affect logistics and operating expenses. Customers have the option to select alternatives to biomass boilers because of all these concerns. This inhibits the expansion of the biomass boiler market.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/biomass-boiler-market

SEGMENTATION INCLUDED IN THIS REPORT:

By Feedstock:
• Woody Biomass
• Agricultural Biomass
• Urban Residue

By Technology:
• Stoker Boiler
• Fluidized Bed Boiler

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Key Insights from The Report:

• Based on feedstock, the woody biomass segment led the market and accounted for the largest share of the global market in 2023.
• Based on technology, the stoker boiler segment captured the highest share of the global market in 2023.
• Europe dominated the biomass boiler market in 2023. Asia-Pacific is predicted to be the fastest-growing biomass boiler market during the foreseen period.

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year, and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Biomass Boiler Market, By Feedstock
6.1.1 Woody Biomass
6.1.2 Agricultural Biomass
6.1.3 Urban Residue
6.1.4 Market Size Estimations & Forecasts (2024-2029)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Biomass Boiler Market, By Technology
6.2.1 Stoker Boiler
6.2.2 Fluidized Bed Boiler
6.2.3 Market Size Estimations & Forecasts (2024-2029)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Biomass Boiler Market, by Region
7.2 North America - Market Analysis (2024-2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Feedstock
7.2.3 By Technology
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Feedstock
7.3.3 By Technology
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Feedstock
7.4.3 By Technology
7.5 Latin America
7.5.1 By Country
7.5.1.1 brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Feedstock
7.5.3 By Technology
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Feedstock
7.6.3 By Technology

8. Key Player Analysis
8.1 Alstom
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Amec Foster Wheeler
8.3 Baxi
8.4 Eco Vision
8.5 Hurst
8.6 Bharat Heavy Electricals
8.7 Ansaldo
8.8 Siemens
8.9 Innasol Limited
8.10 WDS Green Energy Limited

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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