Thailand Biomass Power Market Size & Outlook, 2024-2030
Global Market
Related Markets
Thailand biomass power market highlights
- The Thailand biomass power market generated a revenue of USD 5,298.2 million in 2023 and is expected to reach USD 10,429.0 million by 2030.
- The Thailand 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.
- 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 5,298.2 million |
| Market revenue in 2030 | USD 10,429.0 million |
| Growth rate | 10.3% (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, Thailand accounted for 4.0% 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.
Growing industrialization along with increasing population emerged as the prominent factors in developing the demand for power generation. Increasing requirements for electricity are creating a substantial growth opportunity for biomass power in the country.
The country is planning to shift its dependence from fossil fuels to renewable sources for power generation. The Alternative Energy Development Plan (AEDP) of Thailand is focused on developing a renewable and clean source of energy.
Under the AEDP plan, the country is targeting to attain an install capacity of 5.57 GW of biomass power and 1.28 GW of biogas-based power plants. To decrease the reliance on imported fossil fuels, the government is planning to tap biomass power as one of the major solutions owing to the easy availability of biomass feedstock such as wood chips, rice husk, livestock & municipal waste in the country.
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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 |
Thailand 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 98.77% in 2023.
Horizon Databook has segmented the Thailand biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
Growing industrialization along with increasing population emerged as the prominent factors in developing the demand for power generation. Increasing requirements for electricity are creating a substantial growth opportunity for biomass power in the country.
The country is planning to shift its dependence from fossil fuels to renewable sources for power generation. The Alternative Energy Development Plan (AEDP) of Thailand is focused on developing a renewable and clean source of energy.
Under the AEDP plan, the country is targeting to attain an install capacity of 5.57 GW of biomass power and 1.28 GW of biogas-based power plants. To decrease the reliance on imported fossil fuels, the government is planning to tap biomass power as one of the major solutions owing to the easy availability of biomass feedstock such as wood chips, rice husk, livestock & municipal waste in the country.
- Thailand Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- Thailand 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 Thailand Biomass Power Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Thailand Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Thailand Biomass Power Market, 2018-2030 (US$M)
Thailand Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
