U.K. Biomass Power Market Size & Outlook, 2024-2030
Global Market
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UK biomass power market highlights
- The UK biomass power market generated a revenue of USD 4,336.8 million in 2023 and is expected to reach USD 7,761.0 million by 2030.
- The UK market is expected to grow at a CAGR of 8.7% 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 4,336.8 million |
| Market revenue in 2030 | USD 7,761.0 million |
| Growth rate | 8.7% (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, UK accounted for 3.2% 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 Europe, Germany biomass power market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 7,761.0 million by 2030.
In 2015, the UK became the first country in the world to commit to phasing out its coal-based power plants by 2025. Furthermore, the UK’s Prime Minister Boris Johnson has come up with a consultation in February 2020 to prepone the deadline for coal phase-out by a year to October 2024. Moreover, the country has committed to a target of net zero by 2050.
To achieve this, the UK has been supporting the renewable energy industry for several years through financial subsidies and favorable policies & regulations. In August 2023, the Government of the UK announced its Biomass Strategy 2023, which outlines the role of sustainable biomass in helping the country reach net-zero emissions by 2024.
According to the UK Department of Energy Security and Net Zero Chief Scientific Advisor, biomass accounts for 8.6% of the energy supply in the country. The strategy aims to further leverage biomass as a part of the broad efforts of the government of the country to transition to clean energy and achieve its climate goals.
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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 |
U.K. 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 88.8% in 2023.
Horizon Databook has segmented the U.K. biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
In 2015, the UK became the first country in the world to commit to phasing out its coal-based power plants by 2025. Furthermore, the UK’s Prime Minister Boris Johnson has come up with a consultation in February 2020 to prepone the deadline for coal phase-out by a year to October 2024. Moreover, the country has committed to a target of net zero by 2050.
To achieve this, the UK has been supporting the renewable energy industry for several years through financial subsidies and favorable policies & regulations. In August 2023, the Government of the UK announced its Biomass Strategy 2023, which outlines the role of sustainable biomass in helping the country reach net-zero emissions by 2024.
According to the UK Department of Energy Security and Net Zero Chief Scientific Advisor, biomass accounts for 8.6% of the energy supply in the country. The strategy aims to further leverage biomass as a part of the broad efforts of the government of the country to transition to clean energy and achieve its climate goals.
- U.K. Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- U.K. 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 U.K. Biomass Power Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.K. Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.K. Biomass Power Market, 2018-2030 (US$M)
UK Feedstock - Biomass Power Market Statistics, 2023 - 2030 (US$M)
