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Biomass Boiler Market - By Feedstock (Woody Biomass, Agricultural Waste, Industrial Waste, Urban Residue), By Product (Stocker, Fluidized Bed), By Application, By Regional Outlook & Forecast, 2024 – 2032
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Biomass Boiler Market
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Base Year: 2023
Companies covered: 30
Tables & Figures: 52
Countries covered: 24
Pages: 120
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Biomass Boiler Market Size
Biomass Boiler Market size in 2023 was valued at USD 12.1 billion and is set to grow at a CAGR of 9.2% up to 2032. Governments and regulatory bodies are introducing supportive policies and incentives to encourage the adoption of renewable energy creating a promising business opportunity. For instance, according to the U.S. Department of Energy, in 2023, the average household was responsible for over 16,000 pounds of CO2 emissions.
A biomass boiler is an eco-friendly heating system that uses organic materials including agricultural waste, wood pellets, and similar substances to produce heat. These boilers operate by burning biomass in a combustion chamber transferring the generated heat to water which can then be used for space heating, hot water and industrial processes. Biomass boilers are considered a sustainable and renewable energy source since they utilize plant-based materials that can be replenished over time.
Biomass Boiler Market Trends
The growing emphasis on decarbonization coupled with stringent government regulations aimed at reducing greenhouse gas emissions will enhance the business landscape. Increasing consumer awareness regarding energy-efficient and cost-effective heating technologies will drive industry growth. Additionally, the global shift toward clean energy sources supported by the introduction of favorable government policies and financial incentives will boost the boiler market.
Biomass Boiler Market Analysis
The woody biomass segment will exceed over USD 10 billion by 2032. Abundant availability of feedstock coupled with ongoing technological advancements will augment the business landscape. Stringent emission regulations aimed at curbing carbon emissions, coupled with growing efforts to optimize energy usage across various sectors, have driven the adoption of these heating systems. Increasing applicability across primary metal manufacturing, paper & pulp, chemical sector, textile, and pharmaceuticals will positively sway the industry growth.
The fluidized bed biomass boiler market size will witness growth rate of over 9% by 2032. Increasing investments toward the development of manufacturing facilities along with flourishing real estate sector will enhance the installation of these units. The demand for these units is particularly strong across developed countries where the government has implemented strict regulations to reduce the dependency on fossil fuels. The rising use of combined heat and power systems for the simultaneous production of heat and electricity will further enhance business potential.
The Asia Pacific biomass boiler market will surpass USD 7 billion by 2032. The increasing focus on biomass co-firing and conversion as strategies for transitioning to renewable energy power generation will accelerate industry potential. Moreover, the development of integrated biomass supply chains encompassing storage facilities, collection networks and transportation infrastructure ensures a reliable and sustainable biomass fuel supply which will in turn drive product penetration.
The U.S. biomass boiler industry has witnessed a steep progression owing to stringent emission norms and rising investments in infrastructural development. The participation of private players along with federal and state governments for the development and expansion of commercial facilities have created a favorable business scenario. The ongoing infrastructural expansion owing to the resurgent construction sector is augmenting the product demand across the nation.
Biomass Boiler Market Share
Forbes Marshall is one of the prominent names in the engineering and energy solutions sector, renowned for its innovative and sustainable technologies. The company offers advanced biomass boilers, which are designed to harness renewable energy from organic materials. These boilers are engineered to deliver high efficiency and reliable performance while reducing carbon emissions and environmental impact. By utilizing agricultural residues, wood chips, and other biomass sources, Forbes Marshall's biomass boilers provide an eco-friendly alternative to traditional fossil fuel-based systems. It integrates cutting-edge automation and control technologies into its boilers to optimize fuel use and maximize energy output, ensuring both cost-effectiveness and environmental sustainability for industrial applications.
Biomass Boiler Market Companies
The key industry players include:
Biomass Boiler Industry News
The biomass boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2021 to 2032, for the following segments:
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Market, By Feedstock
Market, By Product
Market, By Application
The above information has been provided for the following regions and country: