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Asia Pacific Biomass Boiler Market Size
Asia Pacific Biomass Boiler Market size in 2023 was valued at USD 3 billion and is estimated to grow at a rate of 10.2% up to 2032. The increasing regional focus on toward the adoption of renewable energy and sustainable initiatives is propelling the industry potential. For instance, over 1,300 biomass power plants have been commissioned and are now operational across China.
A biomass boiler is an environmentally friendly heating system that harnesses the energy from natural materials such as wood pellets and agricultural waste to produce heat. It functions by combusting these renewable fuels, releasing heat energy which is utilized to heat water or generate steam. The resulting hot water or steam is then circulated to provide warmth and can also be used to generate electricity.
Why is the demand for industrial waste feedstock on the rise in APAC?
The industrial waste segment in the market is estimated to accumulate over USD 1 billion by 2032, due to the paradigm shift toward renewable energy sources along with rising efforts by the governments to limit carbon emissions.
What factors are influencing biomass boiler market growth in China?
China biomass boiler industry is expected to be worth over USD 3.5 billion by 2032 led by the growing investments in biomass energy production and the establishment of dedicated biomass power plants.
How big is the Asia Pacific biomass boiler market?
Asia Pacific biomass boiler industry size recorded USD 3 billion in 2023 and is expected to depict 10.2% CAGR from 2024 to 2032, owing to the increasing regional focus on the adoption of renewable energy and sustainable initiatives.
Who are the leading Asia Pacific biomass boiler market players?
ANDRITZ, ARITERM, Babcock & Wilcox Enterprises, Binder Energietechnik Ges.m.b.H., DP CleanTech, Forbes Marshall, Hoval, Hurst Boiler & Welding Co., John Wood Group PLC, Maxtherm Boilers, Prime Thermals, Schmid Energy Solutions, Sofinter S.p.a, Sugimat, Thermodyne Boilers, Treco, VIESSMANN, Walchandnagar Industries, Windhager, and Woodco are some of the major biomass boiler companies in the Asia Pacific.