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The regulatory bodies are implementing favorable policies and incentives including feed-in tariffs, renewable energy targets, tax breaks and grants, which in turn will accelerate the deployment of these units. The heightened emphasis on decarbonization and the enforcement of strict government regulations targeting greenhouse gas emissions reduction are poised to bolster the industry potential. Furthermore, growing consumer awareness about embracing energy-efficient and economical heating technologies will drive the product adoption.
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.
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.
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.
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.