U.S. Biomass Power Market Size & Outlook, 2024-2030
Global Market
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U.S. biomass power market highlights
- The U.S. biomass power market generated a revenue of USD 15,638.9 million in 2023 and is expected to reach USD 22,229.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.3% 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 15,638.9 million |
| Market revenue in 2030 | USD 22,229.7 million |
| Growth rate | 5.3% (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, U.S. accounted for 11.7% 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.
The growth of the U.S. biomass power market is driven by the governmental supportive policies and plans related to renewable energy adoption, coupled with the abundant availability of biomass feedstock in the country.
The power scenario in the U.S. has been witnessing a change with more adoption of gas-based and renewable power sources than coal-based power generation. According to the International Renewable Energy Agency (IRENA), the total bioenergy capacity of the U.S. was 11.0 gigawatts (GW) in 2023. As of 2023, biomass power catered to 5% of the total energy requirements of the U.S.
The country converts 150 million tons of corn to ethanol and 140 million tons of wood to power. It generates energy from 40 million tons of landfill gas and other types of waste annually. In addition, direct combustion is the most common method of producing heat from biomass.
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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.S. 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 72.7% in 2023.
Horizon Databook has segmented the U.S. biomass power market based on solid biofuel, liquid biofuel, biogas covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the U.S. biomass power market is driven by the governmental supportive policies and plans related to renewable energy adoption, coupled with the abundant availability of biomass feedstock in the country.
The power scenario in the U.S. has been witnessing a change with more adoption of gas-based and renewable power sources than coal-based power generation. According to the International Renewable Energy Agency (IRENA), the total bioenergy capacity of the U.S. was 11.0 gigawatts (GW) in 2023. As of 2023, biomass power catered to 5% of the total energy requirements of the U.S.
The country converts 150 million tons of corn to ethanol and 140 million tons of wood to power. It generates energy from 40 million tons of landfill gas and other types of waste annually. In addition, direct combustion is the most common method of producing heat from biomass.
- U.S. Biomass Power Market Feedstock Outlook (Revenue, USD Million , 2018-2030)
- Solid Biofuel
- Liquid Biofuel
- Biogas
- U.S. 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.S. Biomass Power Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.S. Biomass Power Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.S. Biomass Power Market, 2018-2030 (US$M)
US Feedstock - Biomass Power Market Statistics, 2023 - 2030 (Million MWh)
