Canada Biomass Power Market Size & Outlook, 2024-2030
Global Market
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Canada biomass power market highlights
- The Canada biomass power market generated a revenue of USD 7,260.5 million in 2023 and is expected to reach USD 9,529.9 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.1% from 2024 to 2030.
- In terms of segment, solid biofuel was the largest revenue generating feedstock in 2023.
- Liquid Biofuel is the most lucrative feedstock segment registering the fastest growth during the forecast period.
Biomass power market data book summary
| Market revenue in 2023 | USD 7,260.5 million |
| Market revenue in 2030 | USD 9,529.9 million |
| Growth rate | 4.1% (CAGR from 2024 to 2030) |
| Largest segment | Solid biofuel |
| Fastest growing segment | Liquid Biofuel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 5.4% of the global biomass power market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. biomass power market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 4,132.8 million by 2030.
Canada has abundant reserves of biomass feedstock through its renewable forests. The provinces in Canada with the largest biomass capacity and generation biomass include British Columbia, Ontario, Alberta, Quebec, and New Brunswick. At present, there are various biomass power projects in the pipeline at the small and individual levels at industrial locations or are planned for indigenous communities in Canada.
As of now, there are approximately 12 projects in the pipeline, four of the projects are of First Nations with smaller capacities. Another 4 of the projects are planned in smaller industrial plants at packaging, pulp, and pellet facilities.
In December 2020, the U.S.-based electricity company, Atlantic Power announced a 1-year extension of the power purchase agreement for the Calstock biomass plant in Ontario (Canada). This power purchase agreement was to originally expire in June 2020 but was extended until December 2020 according to the order of the Provincial Government of Ontario and the requirements of stakeholders such as Atlantic Power to assess the prospective role of biomass power.
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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 |
Canada 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 83.8% in 2023.
Horizon Databook has segmented the Canada biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
Canada has abundant reserves of biomass feedstock through its renewable forests. The provinces in Canada with the largest biomass capacity and generation biomass include British Columbia, Ontario, Alberta, Quebec, and New Brunswick. At present, there are various biomass power projects in the pipeline at the small and individual levels at industrial locations or are planned for indigenous communities in Canada.
As of now, there are approximately 12 projects in the pipeline, four of the projects are of First Nations with smaller capacities. Another 4 of the projects are planned in smaller industrial plants at packaging, pulp, and pellet facilities.
In December 2020, the U.S.-based electricity company, Atlantic Power announced a 1-year extension of the power purchase agreement for the Calstock biomass plant in Ontario (Canada). This power purchase agreement was to originally expire in June 2020 but was extended until December 2020 according to the order of the Provincial Government of Ontario and the requirements of stakeholders such as Atlantic Power to assess the prospective role of biomass power.
- Canada Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- Canada 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 country-level data and insights on the Canada Biomass Power Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Canada Biomass Power Market, 2018-2030 (US$M)
Canada Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
