Global Biomass Boiler Market to Grow at a CAGR of 6.00% Reaching Over $11.00 Billion by 2028

biomass boiler market was worth around $ 4 billion in 2021 and is predicted to grow to around $ 11 billion at a CAGR rate of 6% over the forecast period.

SUITE N202, NEW YORK, UNITED STATES, December 15, 2022 /EINPresswire.com/ -- 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.

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Low carbon emissions and the renewable nature of biomass provide a variety of environmental and economic benefits. The renewable nature of biomass has prompted a growth in biomass boiler installations in both developed and developing countries. Furthermore, various government initiatives aimed at increasing renewable energy consumption as a key step toward reducing carbon emissions are another aspect driving the global biomass boiler market expansion. Furthermore, regulatory frameworks and government grants offer renewable energy companies with investment incentives and tax benefits. This encourages biomass heating firms to transition to biomass on a larger scale, resulting in market expansion. However, a drop in total biomass efficiency over time, as well as an increase in pollutant emissions and ash deposition, are among the concerns that are projected to impede market expansion.

Global Biomass Boiler Market

The COVID-19 pandemic negatively impacted the market growth during 2019 and 2020. The global biomass boiler business is heavily reliant on imports from other countries. In addition, the biomass boiler supply chain has been impacted by government rules and a worldwide shutdown during the pandemic which significantly affected the production of the biomass boiler market.

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 beds, and circulating fluidized beds. End-users are residential, commercial, and industrial.

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Europe holds the major share of the global biomass boiler market. The European Union is supporting renewable energy as a means of increasing green energy adoption. Biomass renewables are being widely used in countries such as Germany, Austria, Sweden, and Finland for the production of power and heat. In order to combat the increasing threat of carbon emissions, European governments are increasingly turning to non-conventional energy, indicating that the biomass boiler will rise in popularity in Europe. Because of increasing awareness of the need of using renewable energy sources to minimize carbon emissions, North America is a rapidly growing market for biomass boilers. Whereas, rapid urbanization, expanding industry, and green energy adoption in countries like India, Japan, and China, Asia Pacific is anticipated to witness the fastest growth for biomass boilers.

The key players in the global biomass boiler market are 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.

Biomass Boiler Market Definition:
The Biomass boilers have similar properties of oil or gas boiler, which is used to regulate the amount of fuel delivered to the burner to match the heat requirement on the boiler. The Wind, solar and biomass are experiencing strong market growth across the globe. Among these, biomass is used to efficiently produce both power, heat and liquid fuels. Currently, boilers are widely used in the Heat-only applications and combined heat and power (CHP) applications. The global biomass boiler market is experiencing significant growth because of their low carbon residential, commercial and industrial.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

Biomass Boiler Market Dynamics:
An Implementation of boiler standards across region during the forecast period is expected to boost high investments in the global biomass boiler market. The regulatory framework and government support in the form of subsidies and tax reimbursements to power generation projects across the globe with the usage of the cleaner sources of energy are also expected to drive the global biomass boiler market.

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Global biomass boiler market segmentation follows:

By Feedstock Type

Woody Biogas
Agriculture & Forest Residues
Biogas & Energy Crops
Urban Residues
By Product Type

Stoker Boilers
Bubbling Fluidized Bed
Circulating Fluidized Bed
By End-Users

Residential
Commercial
Industrial
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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