Dublin, May 30, 2025 (GLOBE NEWSWIRE) — The “Biomass Power Generation Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the biomass power generation market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global biomass power generation market reached a value of nearly $59.71 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.83% since 2019. The market is expected to grow from $59.71 billion in 2024 to $83.56 billion in 2029 at a rate of 6.95%. The market is then expected to grow at a CAGR of 6.50% from 2029 and reach $114.49 billion in 2034.
Growth in the historic period resulted from the increase in energy demand and consumption, strong economic growth in emerging markets, government initiatives and rising environmental awareness. Factors that negatively affected growth in the historic period were rising security concerns in the energy sector.
Going forward, growing demand for renewable energy sources, rising electricity prices, rising urbanization and increased demand for sustainable biofuel will drive the growth. Factor that could hinder the growth of the biomass power generation market in the future include significant upfront costs for biomass power plants.
The global biomass power generation market is concentrated, with large players operating in the market. The top 10 competitors in the market made up 41.96% of the total market in 2023. Mitsubishi Heavy Industries Ltd. was the largest competitor with a 6.81% share of the market, followed by General Electric Company with 6.74%, Sumitomo Corporation with 4.45%, Veolia Environnement S.A. with 4.42%, EDF FR with 4.36%, Acciona S.A. with 3.46%, Drax Group plc with 3.08%, Xcel Energy Inc. with 3.08%, MVV Energie AG with 2.81% and E. ON SE with 2.75%.
South America was the largest region in the biomass power generation market, accounting for 48.51% or $28.97 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the biomass power generation market will be Asia-Pacific and Western Europe where growth will be at CAGRs of 8.49% and 7.46% respectively. These will be followed by South America and Middle East where the markets are expected to grow at CAGRs of 7.03% and 6.24% respectively.
The biomass power generation market is segmented by feedstock into woody biomass, agriculture and forest residues, biogas and energy crops, urban residues and landfill gas (LPG) feedstock. The woody biomass market was the largest segment of the biomass power generation market segmented by feedstock, accounting for 37.65% or $22.48 billion of the total in 2024. Going forward, the biogas and energy crops segment is expected to be the fastest growing segment in the biomass power generation market segmented by feedstock, at a CAGR of 9.21% during 2024-2029.
The biomass power generation market is segmented by technology into aerobic digestion, combustion, gasification and other technologies. The combustion market was the largest segment of the biomass power generation market segmented by technology, accounting for 72.75% or $43.44 billion of the total in 2024. Going forward, the gasification segment is expected to be the fastest growing segment in the biomass power generation market segmented by technology, at a CAGR of 11.81% during 2024-2029.
The biomass power generation market is segmented by end-user into commercial, industrial, residential, transportation and electric power. The industrial market was the largest segment of the biomass power generation market segmented by end-user, accounting for 44.11% or $26.34 billion of the total in 2024. Going forward, the industrial segment is expected to be the fastest growing segment in the biomass power generation market segmented by end-user, at a CAGR of 7.80% during 2024-2029.
The top opportunities in the biomass power generation markets segmented by feedstock will arise in the woody biomass segment, which will gain $8.88 billion of global annual sales by 2029. The top opportunities in the biomass power generation markets segmented by technology will arise in the combustion segment, which will gain $ 15.24 billion of global annual sales by 2029. The top opportunities in the biomass power generation markets segmented by end-user will arise in the industrial segment, which will gain $12.0 billion of global annual sales by 2029. The biomass power generation market size will gain the most in Brazil at $10.35 billion.
Market-trend-based strategies for the biomass power generation market include investment in biomass energy reinforces long-term sustainability goals, biomass power expansion in Vietnam to reduce carbon footprint, wastewater treatment plant to generate renewable energy from biogas and strategic partnership approach to gain a competitive edge in the biomass power generation market.
Player-adopted strategies in the biomass power generation market include focus on expanding its operations with a new product launch and through new power plant developments.
To take advantage of the opportunities, the analyst recommends the biomass power generation companies to focus on long-term sustainability through biomass investments, focus on biomass power expansion, focus on biogas utilization in wastewater treatment, focus on biogas and energy crops for higher growth, expand in emerging markets, continue to focus on developed markets, focus on expanding distribution through strategic partnerships, focus on competitive and flexible pricing models, focus on digital outreach and educational content, focus on industry partnerships and policy advocacy and focus on industrial end-user engagement.
Major Market Trends
- Investment in Biomass Energy Reinforces Long-Term Sustainability Goals
- Biomass Power Expansion in Vietnam to Reduce Carbon Footprint
- Wastewater Treatment Plant to Generate Renewable Energy From Biogas
- Strategic Partnership Approach to Gain a Competitive Edge in the Biomass Power Generation Market
Markets Covered:
1) by Feedstock: Woody Biomass; Agriculture and Forest Residues; Biogas and Energy Crops; Urban Residues; Landfill Gas (LPG) Feedstock
2) by Technology: Aerobic Digestion; Combustion; Gasification; Other Technologies
3) by End-User: Commercial; Industrial; Residential; Transportation; Electric Power
Key Companies Profiled: Mitsubishi Heavy Industries Ltd.; General Electric Company; Sumitomo Corporation; Veolia Environnement S.A.; EDF FR
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time Series: Five years historic and ten years forecast..
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; biomass power generation indicators comparison..
Key Attributes
| Report Attribute | Details |
| No. of Pages | 363 |
| Forecast Period | 2024-2034 |
| Estimated Market Value (USD) in 2024 | $59.71 Billion |
| Forecasted Market Value (USD) by 2034 | $114.49 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
The companies featured in this Biomass Power Generation market report include:
- Mitsubishi Heavy Industries Ltd.
- General Electric Company
- Sumitomo Corporation
- Veolia Environnement S.A.
- EDF FR
- Acciona S.A.
- Drax Group plc
- Xcel Energy Inc.
- MVV Energie AG
- E. ON SE
- GS EPS Co., Ltd.
- Hanwha Energy Corporation
- LG Chem
- Enshu Forest Energy
- Renova
- Epson
- Taisei Corporation
- Sojitz Corporation
- Nippon Paper Industries
- Air Liquide
- Shangqiu Haiqi Machinery Equipment
- Chanderpur Group
- Case Group
- GGE Power
- EnviTec Biogas AG
- First Biogas International AG
- Shenzhen Puxin Science & Technology Co., LTD
- Mingshuo Environment Technology Group Co., Ltd
- Clarke Energy
- Seko Industries Srl
- HC Energy
- Agraferm Technologies AG
- LMS Energy
- Manildra Group
- Greta Energy Ltd
- Licella
- Seiko Epson Corporation
- Emami Agrotech Ltd
- Universal Biofuels Private Limited
- Monopoly Innovations Limited
- New Energy Development Co., Ltd.
- Hyogo Pulp Co., Ltd
- Thermax Ltd
- PT Perusahaan Listrik Negara (Persero)
- Malakoff Corp
- PLN Indonesia Power (PLN IP)
- Erex Co Ltd
- Rexus Bioenergy Pte Ltd
- Renergi Pty Ltd
- BP plc
- MVV Energie AG
- Dalkia
- ENGIE
- RWE Renewables
- Enel Green Power
- A2A
- Iberdrola
- Ence Energia
- SSE Renewables
- Axpo Holding
- EPH (Czechia)
- Federal Hydro-Generating Co RusHydro PAO.
- Vestas Wind Systems A/S.
- Enel Green Power S.p.A.
- NOTUS Energy GmbH.
- SGS SA.
- Conifex Timber Inc.
- Prairie Clean Energy
- Pacolet Milliken, LLC
- Air Burners
- Covanta Holding Corp
- Drax Group
- Enviva LP
- Greenleaf Power, LLC
- Ameresco Inc.
- Babcock & Wilcox Enterprises, Inc.
- Techint E&C
- Northern Parana Improvement Company (CMNP)
- Refocosta s.a.s.
- Veolia
- ALSTOM Holdings SA
- Envitec Biogas
- Valmet
- Eldorado Brasil
- Braskem S.A.
- Veolia Middle East
- Sumitomo Corporation
- ACWA Power
- Masdar
- Meridiam
- SIFCA Group
- ENGIE
- Babcock & Wilcox Enterprises
For more information about this report visit https://www.researchandmarkets.com/r/2771js
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- Biomass Power Generation Market
