Latin America Biomass Power Market Size & Outlook, 2024-2030
Global Market
Related Markets
Latin America biomass power market highlights
- The Latin America biomass power market generated a revenue of USD 7,424.6 million in 2023.
- The market is expected to grow at a CAGR of 4.3% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 7,424.6 million |
| Market revenue in 2030 | USD 9,884.4 million |
| Growth rate | 4.3% (CAGR from 2024 to 2030) |
| Largest segment | Solid biofuel |
| Fastest growing segment | Liquid Biofuel |
| 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, Latin America region accounted for 5.5% 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.
Central & South America is an oil & gas-based economy that relies majorly on oil & gas for energy mix in the region. The region is also following a trend similar to Europe and is heavily focusing on power generation through renewable resources. For instance, in July 2023, Argentina's Ministry of Energy announced the results of a renewable energy generation tender, awarding a total of 633.7 MW across 98 projects under the RenMDI2 program.
The projects were divided into two groups: group 1 with 500 MW capacity and group 2 with 120 MW capacity. Group 1 included 46 projects with 501.1 MW of solar PV capacity, a 3-MW biomass project, and a 10 MW wind-plus-storage project. Group 2 comprised 52 projects, including biomass, biogas, small hydroelectric, and solid urban waste projects.
The tender guidelines specified project sizes and locations for each group, with notable winners being Energias Renovables Las Lomas SAU and Coral Consultoria en Energia S.A. in the 500-MW category Brazil is also focusing on reducing dependence on hydropower and is likely to develop renewable power generation sources over the coming years.
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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 |
Latin America 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 99.91% in 2023.
Horizon Databook has segmented the Latin America biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America is an oil & gas-based economy that relies majorly on oil & gas for energy mix in the region. The region is also following a trend similar to Europe and is heavily focusing on power generation through renewable resources. For instance, in July 2023, Argentina's Ministry of Energy announced the results of a renewable energy generation tender, awarding a total of 633.7 MW across 98 projects under the RenMDI2 program.
The projects were divided into two groups: group 1 with 500 MW capacity and group 2 with 120 MW capacity. Group 1 included 46 projects with 501.1 MW of solar PV capacity, a 3-MW biomass project, and a 10 MW wind-plus-storage project. Group 2 comprised 52 projects, including biomass, biogas, small hydroelectric, and solid urban waste projects.
The tender guidelines specified project sizes and locations for each group, with notable winners being Energias Renovables Las Lomas SAU and Coral Consultoria en Energia S.A. in the 500-MW category Brazil is also focusing on reducing dependence on hydropower and is likely to develop renewable power generation sources over the coming years.
- Latin America Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- Latin America 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 Latin America Biomass Power Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Latin America Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Latin America Biomass Power Market, 2018-2030 (US$M)
Latin America Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
