North America Biomass Power Market Size & Outlook, 2024-2030
Global Market
Related Markets
North America biomass power market highlights
- The North America biomass power market generated a revenue of USD 25,697.6 million in 2023.
- The market is expected to grow at a CAGR of 5% 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, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 25,697.6 million |
| Market revenue in 2030 | USD 35,892.4 million |
| Growth rate | 5% (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, North America region accounted for 19.2% 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.
The U.S. and Canada dominate biomass power market in North America and account for major shares in the region. The North American region is majorly dependent on coal for power generation. The recent discovery of shale gas reserves in the region has resulted in gas-based power generation, which has gained higher growth over coal-based power generation in the region in the past decade.
The rise in environmental concerns has led North American countries to focus on renewable energy. As a result, favorable policies and regulations have been drafted by the U.S., Canada, and Mexico to support renewable power sources such as solar, wind, and biomass.
Furthermore, some of the states in the U.S., such as California, Florida, and New York, have set renewable energy targets for installed capacity. The abundant availability of biomass feedstock in the region coupled with favorable policies & regulations is projected to drive the biomass power market in the region over the forecast period.
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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 |
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 78.01% in 2023.
Horizon Databook has segmented the North America biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. and Canada dominate biomass power market in North America and account for major shares in the region. The North American region is majorly dependent on coal for power generation. The recent discovery of shale gas reserves in the region has resulted in gas-based power generation, which has gained higher growth over coal-based power generation in the region in the past decade.
The rise in environmental concerns has led North American countries to focus on renewable energy. As a result, favorable policies and regulations have been drafted by the U.S., Canada, and Mexico to support renewable power sources such as solar, wind, and biomass.
Furthermore, some of the states in the U.S., such as California, Florida, and New York, have set renewable energy targets for installed capacity. The abundant availability of biomass feedstock in the region coupled with favorable policies & regulations is projected to drive the biomass power market in the region over the forecast period.
- North America Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- 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 continent-level data and insights on the North America Biomass Power Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into North America Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
North America Biomass Power Market, 2018-2030 (US$M)
North America Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
