Global Biomass Boiler Market to Grow at a CAGR of 6.00% Reaching Over $11.00 Billion by 2028
NEW YORK , June 16, 2022 /PRNewswire/ -- As per Zion Market Research study, The global biomass boiler market was worth around USD 4.34 billion in 2021 and is forecasted to grow to nearly USD 11 billion at a CAGR rate of 6 percent over the forecast period. Biomass is a type of fuel made from living and non-living plant materials, and it can come in the form of wooden logs, chips, or pellets. Biomass boilers are completely automated equipment with features comparable to oil or gas boilers and smart controls that intelligently manage the quantity of fuel fed to the burner to fit the boiler's heat requirement. An auger attached to the nearby pellet hopper subsequently feeds the fuel to the burner. This, in turn, can be supplied automatically from a bulk pellet storage of various sizes.
Key Industry Insights & Finding of the Biomass Boiler Market Reports:
As per the analysis shared by our research analyst, the Biomass Boiler Market is expected to grow annually at a CAGR of around 6 % (2022-2028).
Through the primary research, it was established that the Biomass Boiler Market was valued approximately USD 4.34 Billion in 2021 and is projected to reach to roughly USD 11 Billion by 2028.
Asia-Pacific region trails as the second largest market of biomass boilers owing to increasing focus on biodegradable and environment-friendly products.
The rapid urbanization, growing industrialization, and heavy adoption of green energy propel market growth.
The cost of installation and the huge capital investment needed for biomass boilers impedes the growth of the global biomass boiler market.
Zion Market Research published the latest report titled as "Biomass Boiler Market By Feedstock Type (Woody Biogas, Agriculture & Forest Residues, Biogas & Energy Crops, And Urban Residues), By Product Type (Stoker Boilers, Bubbling Fluidized Bed (BFB), And Circulating Fluidized Bed (CFB)), By End-User (Residential, Commercial, And Industrial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Biomass is a common type of fuel that is sourced from living or non-living matters. It could be anything ranging from wooden logs to pellets or chips and sticks. Biomass boilers are self-controlled appliances that act as fuel regulators to be delivered to the burners of the boilers. There is a pellet opener that sucks in the fuel and is then transferred to the burner for the boiler to function.
The boilers actually burn any raw plant materials like chips, logs, or wood pellets to power heat any liquid. They emit less carbon dioxide and hence they find leverage in many applications like commercial buildings, district heating, colleges, hospitals, farms, community centers, and household works.
The installation is actually very simple but needs sufficient spacing for the fuel storage and boilers. Aspects that have to be factored into buying good biomass boilers are quality of wood fuel, space, and cost.
They are also widely used in hotels, fisheries, and restaurants to process and cook food items. The emission of greenhouses gases in biomass boilers is very less which makes it very energy-efficient. It is also quite effectively used as a raw substance for generating electricity.
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Biomass Boiler Market: Growth Drivers
The renewable character of biomass boilers and government initiatives to support biodegradable products trigger market growth.
The renewable attribute of these biomass boilers makes it a compelling choice of leverage in developing countries increasing their installations and demand. Government initiatives to increase the attention on renewable sources which produce lesser carbon emissions also make it a popular choice improving its market growth.
Biomass heating as a concept has been encouraged and supported by the government promoting its demand and usage thereby instigating market growth. The carbon dioxide released from the burning is consumed by the plants which make it a more energy-efficient process. This is also triggering high demand for biomass boilers.
Food and beverage industry kind of relies upon biomass boilers thereby increasing its demand. The chemical industry and the need for electricity also drive market growth massively. There has also been increased consumption of biomass boilers in the waste management system where the leverage of these boilers is maximum. The increasing focus on sustainable products and energy-efficient tools also propel market growth to a larger extent.
Cost of installation of boilers and lack of user efficiency impedes the market growth.
The cost of installation and the huge capital investment needed for biomass boilers impedes the growth of the global biomass boiler market. The ash deposition and the lack of user efficiency of biomass also act as restraints for market growth. Biomass boilers are huge in size and need ample space for installations. Apart from this they also require regular maintenance for their effective functioning. All these above factors hamper its market growth to some extent.
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Global Biomass Boiler Market: Opportunities
Increase in leverage of natural gases provides opportunities for market expansion.
The increase in focus on leveraging natural gases provides excellent opportunities for the market growth of biomass boilers. The overall rise of rapid urbanization and industrialization could also provide opportunities for market expansion as they are used widely by industrial sectors.
Global Biomass Boiler Market: Challenges
Frequent maintenance required for the effectiveness of boilers poses a challenge for market growth.
The biomass boilers are huge pieces of equipment that need constant care and maintenance for them to function effectively and easily. The emissions and the steam that is generated might corrode the internal parts of the boilers with repeated usage. They need to be distilled and taken care of on a regular basis which poses a challenge for its market growth considerably.
Global Biomass Boiler Market: Segmentation
The global biomass boiler market in this research analysis is divided into feedstock type, product type, end-user, and region.
Feedstock type is classified into woody biogas, agriculture & forest residues, biogas & energy crops, and urban residues. Product type is divided into stoker boilers, bubbling fluidized bed, and circulating fluidized bed. End-users are residential, commercial, and industrial.
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List of Key Players of Biomass Boiler Market:
Hurst Boiler & Welding Co Inc.
The Babcock & Wilcox Company
VAS Energy Systems International GmbH
Key questions answered in this report:
What are the growth rate forecast and market size for Biomass Boiler Market?
What are the key driving factors propelling the Biomass Boiler Market forward?
What are the most important companies in the Biomass Boiler Market Industry?
What segments does the Biomass Boiler Market cover?
How can I receive a free copy of the Biomass Boiler Market sample report and company profiles?
By Product Type, By Application, and By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Advanced Recycling Equipment, Inc., Alstom SA, Baxi Group, Ecovision Systems Ltd., Energy Innovations (UK) Ltd, ETA Heiztechnik GmbH, Foster Wheeler AG, Garioni Naval SpA, Hurst Boiler & Welding Co, Inc., JernforsenEnergi System AB, JustsenEnergiteknik A/S, Kohlbach Group, LAMBION Energy Solutions GmbH, Leroux&Lotz Technologies, Lin-KaMaskinfabrik A/S, Mawera, Nexterra, Polytechnik GmbH, RENTECH Boiler Systems, Inc., Schmid Energy, The Babcock & Wilcox Company, Thermax Ltd, VAS Energy Systems International GmbH, Wellons, Inc., Wood Energy, and Zhengzhou Boiler Co., Ltd.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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Increasing focus on biodegradable and environment-friendly products.
Europe dominates as the largest revenue-sharer of the global biomass boiler market. This is because of the increasing inclination of the region towards non-conventional energy. There is also a growing trend of swift industrialization which skews the demand toward industrial boilers. Government initiatives in this region regarding the harmful emissions to the environment drive market growth further. Asia-Pacific region trails as the second largest market of biomass boilers owing to increasing focus on biodegradable and environment-friendly products. The rapid urbanization, growing industrialization, and heavy adoption of green energy propel market growth.
Global Biomass Boiler Market is segmented as follows:
Biomass Boiler Market: By Feedstock Type Outlook (2022-2028)
Biomass Boiler Market: By Product Type Outlook (2022-2028)
Biomass Boiler Market: By End-Users Outlook (2022-2028)
Biomass Boiler Market: By Region Outlook (2022-2028)
Rest of Middle East & Africa
Press Release For Biomass Boiler Market: https://www.zionmarketresearch.com/news/global-biomass-boiler-market
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