Biomass Power Market (By Technology: Combustion, Gasification, Anaerobic Digestion, Others; By Feedstock: Solid Biofuel, Liquid Biofuel, Biogas, Others; By End Use: Industrial, Commercial, Residential)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Biomass Power market was valued at USD 127.50 billion in 2021 and it is expected to hit around USD 210.19 billion by 2030 with a CAGR of 5.80% during the forecast period 2022 to 2030.

Key Takeaways:

  • By Technology, the U.S. Biomass Power market was valued at USD 14.9 Billion in 2021 and expected to witness growth at a CAGR of 5.4% from 2022 to 2030.
  • In terms of revenue, the solid biofuel segment accounted for the dominant revenue share in 2021 and is projected to expected further over the forecast period
  • Germany dominated the Europe regional market and accounted for the maximum revenue share in 2021
  • The high rate of depletion of fossil fuels in the Europe region is creating ample growth opportunities for this market
  • The European Union has set a target to fulfill a significant portion of its energy requirements from renewable sources
  • The focus of governments of different countries of the region on reducing carbon emissions also creates ample opportunities for the market
  • Some of the major strategic initiatives undertaken by vendors in the biomass power market include M&A & R&D activities, overseas business expansions, and strategic collaborations among the market participants

The growing concerns about Greenhouse Gas (GHG) emissions have resulted in favorable policies and regulations for renewable energy, which has been the key factor driving the growth of this market. The COVID-19 pandemic has hampered the market growth globally owing to the disruptions in the supply chain, which resulted in delays for some projects. The power demand has declined from commercial and industrial end-users in the non-essential category due to the closure of operations during the lockdown.

These factors have resulted in delays in the construction of new biomass power plants and reduced power supply from existing biomass power plants. Solid biofuel has emerged as the dominant feedstock segment in the market owing to its easy availability. Moreover, it is simpler to use than liquid biofuel and biogas in power generation applications. The combustion technology segment accounted for the largest market share in 2021, in terms of revenue. The growth of this segment can be attributed to lower costs of combustion technology than anaerobic digestion and gasification technologies. Europe has emerged as the major regional market owing to the presence of supportive policies and plans, coupled with the announcement of the phasing-out of coal-based power plants by the leading European countries, such as the U.K., Germany, and France.   

Report Scope of the Biomass Power Market

Report Coverage


Market Size in 2022

USD 134.80 Billion

Market Size by 2030

USD 210.19 Billion

Growth Rate from 2022 to 2030

CAGR of 5.80%

Base Year


Forecast Period

2022 to 2030

Segments Covered

Technology, Feedstock, End Use, and Region,

Companies Mentioned

Mitsubishi Power Ltd., Suez, Xcel Energy Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises, Inc., Orsted A/S, Ameresco Inc., General Electric, Veolia, Vattenfall AB, ABB Ltd., ACCIONA, Canadian Solar Inc., EDF, Enel SPA, First Solar Inc., General Electric, co.


Technology Insights

On the basis of technologies, the global market for biomass power has been further categorized into combustion, gasification, and anaerobic digestion. In terms of revenue, the combustion segment dominated the market in 2021 and accounted for the maximum share of more than 88.9% of the global revenue. The trend is expected to continue in the future with the segment registering a steady growth rate over the forecast period. Biomass feedstock is directly combusted in a furnace with air, to convert water into steam. The produced steam is used to drive a steam turbine to generate electricity.

The combustion technology has a non-complex operation and operates at a lesser cost compared to other advanced biomass power technologies. This is expected to drive the demand for combustion technology in the market over other available technologies. Biomass power can be used for power generation, lighting, heating, and cooking gas applications. These factors are expected to boost the growth of the anaerobic digestion technology segment over the forecast period. However, the gasification technology segment is estimated to register the fastest CAGR over the forecast period.

Feedstock Insights

On the basis of feedstock, the global market has been further segmented into solid biofuel, liquid biofuel, and biogas. In terms of revenue, the solid biofuel segment accounted for the maximum revenue share of 85.9% in 2021. The segment will expand further at a steady CAGR retaining its leading position throughout the forecast period. The easy availability and low cost of solid biofuelshave resulted in their higher adoption over liquid biofuels and biogas for power generation applications. On the other hand, the liquid biofuel segment is projected to record the fastest growth rate during the forecast period.

The biogas segment accounted for the second-largest market share, in terms of revenue, in 2021 owing to its higher calorific value and ability to be produced and utilized in remote areas. The segment is expected to grow at a steady growth rate during the forecast period. Biogas is majorly composed of methane and carbon dioxide, which is produced by the process of anaerobic digestion and it can be also produced through the thermal process of solid biofuel. Biomass power can be utilized for various applications, such as power generation, heating, and cooking.

Regional Insights

Europe was the largest regional market in 2021 and accounted for a revenue share of more than 38.0%. The European Union, in its long-term strategy, has aimed to be carbon-neutral by 2050. This objective is in line with the European Union’s commitments as part of the Paris Agreement. According to the European Green Deal, the European Commission in March 2020 has passed the first-ever European Climate Law to achieve its 2050 climate-neutrality goal. Furthermore, the European Union member countries are required to develop and implement national long-term strategies to achieve their commitments as per the Paris Agreement.

North America also accounted for a significant share of the global market revenue in 2021. The demand for biomass power across North America is primarily driven by the U.S. and Canada. The North America region is majorly dependent on coal for power generation. The recent discovery of shale gas reserves in the region has resulted in gas-based power generation, which is gaining higher growth over coal-based power generation. On the other hand, the market in Asia Pacific is estimated to register the fastest growth rate over the forecast period.

Some of the prominent players in the Biomass Power Market include:

  • Mitsubishi Power Ltd.
  • Suez
  • Xcel Energy Inc.
  • Ramboll Group A/S
  • Babcock & Wilcox Enterprises, Inc.
  • Orsted A/S
  • Ameresco Inc.
  • General Electric
  • Veolia
  • Vattenfall AB
  • ABB Ltd.
  • Canadian Solar Inc.
  • EDF
  • Enel SPA
  • First Solar Inc.
  • General Electric, co.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Biomass Power market

By Technology

  • Combustion
  • Gasification
  • Anaerobic Digestion
  • Others

By Feedstock

  • Solid Biofuel
  • Liquid Biofuel
  • Biogas
  • Others

By End Use

  • Industrial
  • Commercial
  • Residential

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Biomass Power industry analysis from 2022 to 2030 to identify the prevailing Biomass Power industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Biomass Power industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Biomass Power industry trends, key players, market segments, application areas, and market growth strategies.

Report Detail

  • Report Code:7448
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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