Biomass Boiler Market to touch US$193.1 bn by 2025
A new Transparency Market Research report states that the global biomass boiler market stood at US$68.2 bn in 2015 and is predicted to touch US$193.1 bn by 2025, by rising at an 11.10% CAGR between 2016 and 2025. The title of the report is “Biomass Boiler Market – Global & U.K. Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022.”
Browse the full Biomass Boiler Market by Feedstock Type (Woody Biomass, Agriculture & Forest Residues, Biogas & Energy Crops, Urban Residues, and Others), by Product Type (Stoker, Bubbling Fluidized Bed (BFB) Boilers, and Circulating Fluidized Bed (CFB) Boilers), by End-user (Residential, Commercial, and Industrial), and by Application (Heating and Power Generation) – Global & U.K. Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022 report at https://www.transparencymarketresearch.com/biomass-boiler-market.html
Biomass boilers are eco-friendly heating solutions. These are usually fired on wood fuels such as wood pellets or wood chips in order to produce power and heat. Biomass boilers are used for both generating power and heating applications. They are more cost-effective and efficient as compared to fossil fuel boilers and are majorly employed in off main gas and rural areas. They are also utilized for heating purposes within hospitals, hotels, colleges, farms, community centers, commercial buildings, district heating, and households.
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As stated in the report, the increasing support from governments and the favorable regulatory framework in a number of nations will help raise investments in the market for biomass boilers. In addition, the implementation of boiler standards will also fuel the growth of the market. Furthermore, the rising count of tax incentives and feed-in tariffs (FITs) will also impact the market positively. Additionally, the implementation of the Renewable Heat Incentive (RHI) scheme in the U.K. will present continuous support for renewable heat technologies such as biomass. This will further augment the growth of the overall market. However, the challenges involved in the handling, storage, and supply of biomass boilers will impact the market negatively.
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On the basis of feedstock type, the biomass boiler market is segmented into woody biomass, agriculture and forest residues, biogas and energy crops, urban residues, and others. Amongst these, wood biomass leads the market on the basis of feedstock utilization in biomass boilers. On the other hand, agriculture and forest residues are presently the second-most popular biomass feedstock globally.
By product type, the report segments the market into stoker boilers, bubbling fluidized bed (BFB) boilers, and circulating fluidized bed (CFB) boilers. Amongst these, biomass stoker boilers held the largest share in the market in 2013 on the basis of revenue. This type of biomass boilers is poised to maintain its superiority all through the forecast horizon.
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By end use, the market is segmented into the residential, commercial, and industrial sectors. Of these, the commercial end-use segment led the market in 2013 and is predicted to maintain its dominance throughout the forecast period. This segment was trailed by the industrial and residential end-use segments in the same year. The key application areas for biomass boilers include their usage in power generation and heating. Amongst these, heating is presently the largest application segment of biomass boilers.
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By geography, the report segments the market into Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. Among these, Europe led the biomass boiler market in 2013 with the U.K. being the most lucrative market. The rising incentives and regulations for the development of renewable energy is a key factor stimulating the growth of the U.K. biomass boiler market.
Advanced Recycling Equipment, Inc., Baxi Group, Energy Innovations (UK) Ltd, Foster Wheeler AG, Hurst Boiler & Welding Co, Inc., Justsen Energiteknik A/S, LAMBION Energy Solutions GmbH, Lin-Ka Maskinfabrik A/S, and Polytechnik GmbH, among others are the major players dominant in the global biomass boiler market.