India Biomass Power Market Size & Outlook, 2024-2030
Global Market
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India biomass power market highlights
- The India biomass power market generated a revenue of USD 6,179.7 million in 2023 and is expected to reach USD 12,201.7 million by 2030.
- The India market is expected to grow at a CAGR of 10.3% 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.
Biomass power market data book summary
| Market revenue in 2023 | USD 6,179.7 million |
| Market revenue in 2030 | USD 12,201.7 million |
| Growth rate | 10.3% (CAGR from 2024 to 2030) |
| Largest segment | Solid biofuel |
| Fastest growing segment | Biogas |
| 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, India accounted for 4.6% 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.
The rise in environmental concerns and climate change issues, coupled with an increase in power demand, has led the government of India to launch a 175 GW mission in 2015. Under this mission, the country aimed at installing 175 GW of renewables by 2022. In February 2024, India declared financial aid for transforming biomass into Compressed Bio Gas (CBG) and phased compulsory blending of natural gas and CBG for fuel in vehicles and domestic supplies.
This initiative aims to support the transition toward energy security and promote green growth. The scheme includes providing financial aid for procuring biomass aggregation machinery to facilitate CBG production and addressing funding challenges for entrepreneurs entering the CBG sector.
In addition, the phased obligatory blending of CBG in Compressed Natural Gas (CNG) for transportation and Piped Natural Gas (PNG) for domestic intents are expected to be mandated, aligning with the government's commitment to a greener future and sustainable energy solutions.
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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 |
India 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 107.87% in 2023.
Horizon Databook has segmented the India biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
The rise in environmental concerns and climate change issues, coupled with an increase in power demand, has led the government of India to launch a 175 GW mission in 2015. Under this mission, the country aimed at installing 175 GW of renewables by 2022. In February 2024, India declared financial aid for transforming biomass into Compressed Bio Gas (CBG) and phased compulsory blending of natural gas and CBG for fuel in vehicles and domestic supplies.
This initiative aims to support the transition toward energy security and promote green growth. The scheme includes providing financial aid for procuring biomass aggregation machinery to facilitate CBG production and addressing funding challenges for entrepreneurs entering the CBG sector.
In addition, the phased obligatory blending of CBG in Compressed Natural Gas (CNG) for transportation and Piped Natural Gas (PNG) for domestic intents are expected to be mandated, aligning with the government's commitment to a greener future and sustainable energy solutions.
- India Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- India 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 India Biomass Power Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
India Biomass Power Market, 2018-2030 (US$M)
India Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
