China Biomass Power Market Size & Outlook, 2024-2030
Global Market
Related Markets
China biomass power market highlights
- The China biomass power market generated a revenue of USD 17,620.0 million in 2023 and is expected to reach USD 29,271.9 million by 2030.
- The China market is expected to grow at a CAGR of 7.6% 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 17,620.0 million |
| Market revenue in 2030 | USD 29,271.9 million |
| Growth rate | 7.6% (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, China accounted for 13.2% 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 Asia Pacific, China biomass power market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 12,201.7 million by 2030.
China is majorly dependent on coal for power generation. However, coal consumption in the country has witnessed a declining trend from 2013 to 2016 as the country committed its stance to steering the fight against global warming and carbon emissions. There has been a progressive rise in gas-based power plants and renewable energy plants based on solar, wind, biomass, and hydro in the country in the past five years.
The country has witnessed an increase in the installed capacity of bioenergy from 2014 onwards. For instance, the installed capacity of bioenergy in the country had increased from 6.7 GW in 2014 to 31.3 GW by 2023. The availability of abundant biomass resources in China from various sources such as agriculture, animal manure, and forestry has resulted in power plant manufacturers opting for biomass power.
Biomass Power generation in the country witnessed an addition of 1.5 GW of new installations in the first half of 2020. With this, the cumulative installed capacity of biomass power in the country reached 25.2 GW as of the first half of 2020. Moreover, China has plans to increase the share of biomass power by up to 15% in the power mix and to have a cumulative installed capacity of 30 GW of biomass power by 2030.
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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 |
China 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 99.71% in 2023.
Horizon Databook has segmented the China biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
China is majorly dependent on coal for power generation. However, coal consumption in the country has witnessed a declining trend from 2013 to 2016 as the country committed its stance to steering the fight against global warming and carbon emissions. There has been a progressive rise in gas-based power plants and renewable energy plants based on solar, wind, biomass, and hydro in the country in the past five years.
The country has witnessed an increase in the installed capacity of bioenergy from 2014 onwards. For instance, the installed capacity of bioenergy in the country had increased from 6.7 GW in 2014 to 31.3 GW by 2023. The availability of abundant biomass resources in China from various sources such as agriculture, animal manure, and forestry has resulted in power plant manufacturers opting for biomass power.
Biomass Power generation in the country witnessed an addition of 1.5 GW of new installations in the first half of 2020. With this, the cumulative installed capacity of biomass power in the country reached 25.2 GW as of the first half of 2020. Moreover, China has plans to increase the share of biomass power by up to 15% in the power mix and to have a cumulative installed capacity of 30 GW of biomass power by 2030.
- China Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- China 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 China Biomass Power Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into China Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
China Biomass Power Market, 2018-2030 (US$M)
China Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
