Zion Market Research has published a new report titled “Biomass Boiler Market by Feedstock Type (Woody Biomass, Agriculture & Forest Residues, Biogas & Energy Crops, and Urban Residues), by Product Type (Stoker Boilers, Bubbling Fluidized Bed (BFB) Boilers, and Circulating Fluidized Bed (CFB) Boilers), and by Application (Industrial, Commercial, and Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global biomass boiler market was valued at approximately USD 3377.3 million in 2017 and is expected to generate revenue of around USD 10758.2 million by the end of 2024, growing at a CAGR of around 18% between 2018 and 2024.
Biomass boilers have similar characteristics to conventional boilers. Biomass boilers can replace the traditional boilers such as oil boiler or gas boiler. These boilers use wood pallets, logs, chips, and other waste as biomass products for generating heat. Rising environmental concerns for the use of biomass coupled with increasing government support for the biomass boiler installation is the major factor propelling the growth of the market. Moreover, rising demand for the renewable sources and increasing government emission rules and regulations are also considered to be the strong factors positively influencing the market growth.
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On the basis of feedstock type, biomass boiler is bifurcated into woody biomass, biogas & energy crops, agriculture & forest residues, and urban residues. Woody biomass within the feedstock type accounted a major revenue share in 2017. The trend is anticipated to continue during the forecast timeframe. The growth is attributed to increased usage of short-rotation woody crops.
Based on the product type, the market is bifurcated into stoker boilers, bubbling fluidized bed boilers and circulating fluidized bed boilers. Stoker boiler is estimated to be the strongest segment within the product type. Stoker boilers offer high efficiency and lost the cost of operation which significantly increases the demand for such type of boilers. Moreover, it is projected to remain dominant during the forecast period.
On the basis of application, the market is bifurcated into industrial, commercial, and residential. The industrial segment within the application is projected to be dominant in the biomass boiler market during upcoming years. Rapid urbanization coupled with the growing industrialization is the major factor driving the industrial biomass boiler market.
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Geographically, biomass boiler market is bifurcated into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Currently, Europe is the dominant regional market for biomass boilers. This trend is anticipated to continue during the forecast period. The growth in the region is attributed to the rising biomass production in the European countries such as Finland, Sweden, and the U.K. North America is anticipated to be the second largest for the biomass boilers market. The growth is credited to the rising awareness among the people to adopt the biomass boiler to decrease greenhouse gas emission. Furthermore, the U.S. is the dominating country in this region. The Asia Pacific accounted for a considerable growth rate in 2017. Rising demand for the renewable energy and increasing government policies related to the development of biomass energy are the major factors propelling the market growth in this region.
Some of the major players operating in the biomass boiler market are Alstom, General Electric Company, Amec Foster Wheeler, Energy Innovations Ltd., Doosan Heavy Industries, Mitsubishi Hitachi Power Sytems, Ansaldo, Siemens, Amec Foster Wheeler plc, Baxi Group Limited, Ecovision Systems Ltd., Dongfang Electric, Bharat Heavy Electricals, Advanced Recycling Equipment, Harbin Electric, and Thermax Ltd.
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This report segments the global biomass boiler market as follows:
Global Biomass Boiler Market: Feedstock Type Segment Analysis
- Woody Biomass
- Agriculture & Forest Residues
- Biogas & Energy Crops
- Urban Residues
Global Biomass Boiler Market: Product Type Segment Analysis
- Stoker Boilers
- Bubbling Fluidized Bed (BFB)
- Circulating Fluidized Bed (CFB)
Global Biomass Boiler Market: Application Segment Analysis
Global Biomass Boiler Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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