Global Industrial Biomass Boiler Market is anticipated to reach US$ 193.1 Bn by 2025, North America is the largest market for biomass boilers during the forecast period, industrial biomass boilers ranging 25-50 MW accounted for nearly 48% of the global market in 2015
To gain a competitive edge, biomass suppliers will have to pay more focus on ways of improving supply-chain efficiency. Additional efforts to increase the yield and selectivity of separation and transformation process will be instrumental in reducing costs and improving quality of products.
Suppliers will also have to increase their focus on optimizing transportation to reduce overall costs of operations, TMR suggests.
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Enforcement of Boiler Standards and Government Support to Boost Investments in Industrial Biomass Boiler Market
The rapid rate of industrialization and economic development, especially in developing regions, have highlighted the need for implementing more renewable energy technologies and systems across the world.
Thus, government bodies are increasingly encouraging industrial boilers that are powered by biomass through tax incentives and feed-in tariffs. The favorable government policies and regulatory framework will encourage investors to enter in the industrial biomass boilers market as well as several industries to switch to eco-friendly biofuels.
Emission regulations and enforcement of strict boiler standards are also proving effective in boosting the adoption of industry scale biomass boilers across the globe.
Europe to Provide Most Attractive Growth Opportunities
Europe is at the forefront of development efforts in the field of industrial biomass boilers with many new industrial biomass boiler projects announced in the past few years. Though the region lags in terms of installed capacity of biomass boilers, with 3,429.37 MW capacity in 2014 (North America led with 5,893.28 MW capacity), it is expected to expand at the highest, an estimated 12% CAGR through 2015-2023, in terms of installed capacity.
In terms of valuation, the region is expected to rise at a 16.9% CAGR through the same period.
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The European Union has committed to reducing carbon emissions by 80% by 2050 and is constantly encouraging the increased use of renewable energy sources in the industrial and domestic sectors. Policies such as Renewable Heat Incentive (RHI), which provide funds and tax incentives for the development of renewable power technologies and projects, are also expected to provide long term support to the biomass boiler market in Europe.
The market is projected to face stiff competition from conventional coal- and oil-fired boilers in regions such as North America and Asia Pacific and will observe moderate to high growth opportunities through 2015-2023. The market in these regions will be driven majorly by the rising concerns and increasingly strict emission regulations.
How is the Global Opportunity Shaping Up?
The global market for industrial biomass boilers holds growth opportunity worth US$193.1 bn by 2025. The market, which had a valuation of US$68.2 bn in 2015, will exhibit a favorable 11.1% CAGR through the forecasting horizon.
The application area of combined heat and power (CHP) generation accounted for a dominant 24% in the market in 2015. CHP systems are known to operate at energy efficiency levels as high as 80% while conventional methods of producing heat and power separately have combined efficiencies of around 45%.
The review is based on a recent market research report published by Transparency Market Research, titled “Industrial Biomass Boiler Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2025.”
The market is segmented as follows:
Global Industrial Biomass Boiler Market: Capacity Type Analysis
- ~2-10 MW
- ~10-25 MW
- ~25-50 MW
Global Industrial Biomass Boiler Market: Application Type Analysis
- Pulp & Paper Industry
- Brewery Industry
- Sawmill Industry
- CHP Production
- Power Generation
Global Industrial Biomass Boiler Market: Feedstock Type Analysis
- Wood Deliverable
- Landfill Residues
- Agricultural Residues
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