• 8 hours ago
Categories: Market Research

Global Industrial Biomass Boilers Market : Strict Boiler Standards and Government Support to Play Key Role in Development

Global Industrial Biomass Boiler Market: Snapshot 

The swift pace of industrialization in various regions, especially across developed regions, and the soaring demand for renewable sources of energy for industrial scale heating are the factors offering robust background to the evolution of the industrial biomass boiler market. The rising focus of governments on several developing and developed nations to encourage the adoption of renewable energy has propelled the market. Various fiscal incentives and feed-in tariff offered by governments to a large number of businesses have bolstered the use of industrial biomass boilers. Initiatives taken by government players to boost the consumption of heat from renewable sources have pulled substantial investment in biomass boiler technology. In addition, enforcement of stringent boiler standards has positively impacted the growth of the market. The increasing prominence of eco-friendly fuels and sustainable technologies in various industrial heating applications is expected to boost the market in the coming years.

The global industrial biomass boiler market stood at US$68.2 bn in 2015. Rising at a steady CAGR of 11.1% during 2016–2025 the market is expected reach a valuation of US$193.1 bn by 2025.

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Europe to Provide Most Lucrative Market Avenues 

Based on geography, the global market is segmented into Europe, Asia Pacific, Africa, South and Central America (SCA), and North America. Europe was the leading regional segment in 2015 and is expected to provide ample growth opportunities for players in industrial biomass boiler. The success of schemes such as Renewable Heat Incentive (RHI) has a marked effect on the uptake of biomass boilers for industrial applications. In addition, commitment of the European Commission to cut down its greenhouse gas emissions to 80% below the 1990 levels has led to sustained initiatives by various industries in the region aimed at curbing the carbon emission. This is anticipated to spur the demand for biomass boilers in the Europe. The regional market is expected to rise at a CAGR of 12% during 2015–2023, measured in terms of installed capacity.

On the other hand, North America and Asia Pacific markets for industrial biomass boilers are expected to witness moderate growth through the forecast period. The use of conventional sources such as coal and oil in boilers is expected to provide stiff competition to the demand for biomass boilers in these regional markets. The market for industrial biomass boilers in these regions are driven by mounting concerns on the use non-renewables sources of energy and the implementation of stringent emission regulations in various countries.

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Biomass Cogeneration System Emerging as Prominent Application

Based on type of feedstock used, the industrial biomass boilers is segmented into wood deliverable, agricultural residues, and landfill residues. The major application segments are pulp & paper industry, sawmill industry, brewery industry, combined heat and power (CHP) production, and power generation. Among these, combined heat and power or cogeneration system is the leading segment. CHP systems are capable of transforming a variety of waste products into heat, electricity and biofuels. This, coupled with advancement in conversion technology has bolstered its adoption. The prominence of CHP over other conventional systems is due to the high energy efficiency levels of about 80% of producing heat and power. The market is expected to register an impressive CAGR of 11.1% from 2016 to 2023.

Ganesh Rajput :As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.
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