Mexico - North America Biomass Power Market Size & Outlook
Global Market
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Mexico biomass power market highlights
- The Mexico biomass power market generated a revenue of USD 2,798.2 million in 2023 and is expected to reach USD 4,132.8 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.8% 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 2,798.2 million |
| Market revenue in 2030 | USD 4,132.8 million |
| Growth rate | 5.8% (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, Mexico accounted for 2.1% 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.
Mexico is a developing economy with more than 40 million electricity customers. This provides a significant opportunity for the growth of the untapped renewable energy sector in the country. Currently, Mexico generates less than 1% of its electricity from biomass and other renewable sources.
However, significant investments have been made to encourage the use of biomass in the energy generation mix to achieve the objective of Mexico of 5% of its electricity generation from biomass by 2030.
According to IRENA, the total bioenergy capacity of Mexico increased from 966 megawatts (MW) in 2022 to 987 MW in 2023. In line with the above vision to increase the share of biomass power in the energy mix of the country, in May 2016, the 16th biomass plant located at La Perseverancia landfill near Cuautla, in the central Morelos state of Mexico started its operation. This biomass plant generates electricity from solid waste.
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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 |
Mexico - North 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 92.62% in 2023.
Horizon Databook has segmented the Mexico - North America biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico is a developing economy with more than 40 million electricity customers. This provides a significant opportunity for the growth of the untapped renewable energy sector in the country. Currently, Mexico generates less than 1% of its electricity from biomass and other renewable sources.
However, significant investments have been made to encourage the use of biomass in the energy generation mix to achieve the objective of Mexico of 5% of its electricity generation from biomass by 2030.
According to IRENA, the total bioenergy capacity of Mexico increased from 966 megawatts (MW) in 2022 to 987 MW in 2023. In line with the above vision to increase the share of biomass power in the energy mix of the country, in May 2016, the 16th biomass plant located at La Perseverancia landfill near Cuautla, in the central Morelos state of Mexico started its operation. This biomass plant generates electricity from solid waste.
- Mexico - North America Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- Mexico - North 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 country-level data and insights on the Mexico - North America Biomass Power Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - North America Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Mexico - North America Biomass Power Market, 2018-2030 (US$M)
Mexico Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
