Asia Pacific Biomass Power Market Size & Outlook, 2024-2030
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Asia Pacific biomass power market highlights
- The Asia Pacific biomass power market generated a revenue of USD 48,141.5 million in 2023.
- The market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, solid biofuel was the largest revenue generating feedstock in 2023.
- Biogas is the most lucrative feedstock segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 48,141.5 million |
| Market revenue in 2030 | USD 82,189.8 million |
| Growth rate | 8.1% (CAGR from 2024 to 2030) |
| Largest segment | Solid biofuel |
| Fastest growing segment | Biogas |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solid Biofuel, Liquid Biofuel, Biogas |
| Key market players worldwide | Mitsubishi Heavy Industries Ltd, Xcel Energy Inc, Ramboll, Babcock & Wilcox Enterprises Inc, Orsted A/S, Ameresco Inc Class A, GE Aerospace, Veolia Environnement SA |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 35.9% of the global biomass power market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 82,189.8 million by 2030.
Asia Pacific countries such as India, China, Japan, and Australia have pledged to increase their respective shares of renewable energy in the power mix to reduce the emission levels. In addition, most governments in Asia Pacific are supporting renewable energy installations through various favorable policies, plans, and research & development initiatives. These factors have driven the growth of the biomass power market in Asia Pacific.
The abundant availability of biomass feedstock in some of the countries in Asia Pacific, such as Indonesia, Thailand, China, and India, makes biomass power to be a prominent renewable energy solution in these countries.
The presence of financial incentive schemes for renewable power sources in a majority of the Asia Pacific countries and the running of programs for co-firing biomass with coalbased power plants are projected to augment the growth of the biomass power market in the region.
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Biomass Power Market Scope
Biomass Power Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| GE Aerospace | View profile | 125,000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | www.geaerospace.com |
| Babcock & Wilcox Enterprises Inc | View profile | 2,250 | 1200 East Market Street, Suite 650, Akron, OH, United States, 44305 | www.babcock.com |
| Veolia Environnement SA | View profile | 218,288 | 30, rue Madeleine Vionnet, Aubervilliers, France, 93300 | www.veolia.com |
| Mitsubishi Heavy Industries Ltd | View profile | 86,331 | 2-3 Marunouchi 3-chome, Chiyoda-ku, Tokyo, Japan, 100-8332 | www.mhi.com |
| Ramboll | View profile | 10001+ | Copenhagen, Hovedstaden, Denmark, Europe | www.ramboll.com/ |
| Xcel Energy Inc | View profile | 11,311 | 414 Nicollet Mall, Minneapolis, MN, United States, 55401 | www.xcelenergy.com |
| Ameresco Inc Class A | View profile | 1,503 | 111 Speen Street, Suite 410, Framingham, MA, United States, 01701 | www.ameresco.com |
| Orsted A/S | View profile | 8,900 | Kraftvaerksvej 53, Skaerbaek, Fredericia, Denmark, DK-7000 | www.orsted.com |
Asia Pacific Biomass Power Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Biomass Power Market Outlook will help companies and investors design strategic landscapes.
Solid Biofuel was the largest segment with a revenue share of 99.69% in 2023.
Horizon Databook has segmented the Asia Pacific biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific countries such as India, China, Japan, and Australia have pledged to increase their respective shares of renewable energy in the power mix to reduce the emission levels. In addition, most governments in Asia Pacific are supporting renewable energy installations through various favorable policies, plans, and research & development initiatives. These factors have driven the growth of the biomass power market in Asia Pacific.
The abundant availability of biomass feedstock in some of the countries in Asia Pacific, such as Indonesia, Thailand, China, and India, makes biomass power to be a prominent renewable energy solution in these countries.
The presence of financial incentive schemes for renewable power sources in a majority of the Asia Pacific countries and the running of programs for co-firing biomass with coalbased power plants are projected to augment the growth of the biomass power market in the region.
- Asia Pacific Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- Asia Pacific Biomass Power Market Technology Outlook (Revenue, USD Million , 2018-2030)
- Combustion
- Anaerobic Digestion
- Gasification
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific Biomass Power Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Asia Pacific Biomass Power Market, 2018-2030 (US$M)
Asia Pacific Feedstock - Biomass Power Market Statistics, 2023 - 2030 (Million MWh)
