Biomass Boiler Market Size - By Feedstock (Woody Biomass, Agricultural Waste, Industrial Waste, Urban Residue), By Product (Stocker, Fluidized Bed), By Application (Residential, Commercial, Industrial), Regional Insights & Global Forecast, 2024 – 2032

Biomass Boiler Market Size

Biomass Boiler Market size reached USD 12 billion in 2023 and is estimated to grow at a CAGR of 9% from 2024 to 2032. A biomass boiler is a sustainable heating system that utilizes organic materials including wood pellets, agricultural waste and related material to produce heat. Through the combustion of fuel, heat energy is released, which is utilized to heat water or generate steam. The resulting hot water or steam is then circulated to provide heat and generate power.
 

Increasing global focus on renewable energy and sustainable practices is propelling the demand for biomass boiler market. Governments and regulatory bodies worldwide are implementing supportive policies and incentives to promote renewable energy adoption, creating a favorable business opportunity. Favorable policies including feed-in tariffs, renewable energy targets, tax credits, and grants are impacting the installation of these boilers.
 

COVID– 19 Impact

Widespread lockdowns and restrictions disrupted industrial operations and supply chains, leading to a significant decline in biomass boiler business. The industry has faced supply chain disruptions and shortage of manpower. The industries and factories gradually resume operations in late 2021 which has complemented the business growth. In addition, the robust investments across the commercial sector and expansion of manufacturing facilities has stimulated the industry outlook.
 

Biomass Boiler Market Trends

Growing emphasis on decarbonization coupled with stringent government regulation to reduce greenhouse gas emissions will augment the business landscape. Increasing consumer awareness toward the deployment energy efficient and low priced heating technologies will influence the industry growth. The growing global focus on deployment of clean energy sources along with introduction of supportive policies and financial incentives will foster the business outlook.
 

Biomass Boiler Market Analysis

Based on feedstock, the market is segmented as woody biomass, agricultural waste, industrial waste, urban residue, and others. The woody biomass boiler market will witness 8% growth rate up to 2032. The rising demand for renewable energy sources and the strong focus on decarbonization will drive the product deployment across wide tandem of application areas. Furthermore, ongoing advancements in biomass combustion technology and the efficient production of wood pellets are boosting the overall demand for these boilers.
 

Based on product, the market is segmented as stocker and fluidized bed. The fluidized bed biomass boiler market held approximately 70% of the revenue share in 2022. This technology offers several advantages over conventional biomass combustion methods, including improved efficiency, reduced emissions, and greater fuel flexibility. Surging focus toward transition from fossil fuels to renewable biomass energy while utilizing existing infrastructure will positively impact the business landscape. Increasing applicability with combined heat and power systems for simultaneous production of heat and electricity will further escalate the business potential.
 

Based on application, the biomass boiler market is segmented as residential, commercial, and industrial. The commercial boiler industry valued at USD 2.5 billion in 2022. Implementation of supportive policies and financial incentives to promote the adoption of renewable heating technologies across the commercial facilities will accelerate the business dynamics. Rising integration of these heating systems with district heating systems for improving overall energy efficiency and reducing individual heating cost will favor the industry scenario.
 

Asia Pacific biomass boiler market is set to surpass USD 3.5 billion by 2032. This growth is attributed to the growing emphasis on biomass co-firing and conversion as strategies for transitioning towards renewable energy sources. Additionally, the establishment of integrated biomass supply chains, including collection networks, storage facilities, and transportation infrastructure, ensures a reliable and sustainable biomass fuel supply which in turn will fuel the product penetration.  
 

Increasing utilization of agricultural residues and organic waste as biomass fuels taps into the abundant biomass resources, providing a cost-effective and environmentally friendly energy solution to the end users. Ongoing technological advancements in combustion technology, heat exchange systems, and control mechanisms will further offer significant business opportunities. The market for Boiler in the U.S. is expected to cross USD 5.7 billion by 2032.
 

Biomass Boiler Market Share

The major players operating in the biomass boiler market includes :

• Thermax Limited
• Babcock & Wilcox Enterprises
• Forbes Marshall
• Hurst Boiler & Welding Co.
• John Cockerill
• John Wood Group PLC
• Sofinter S.p.a
• Walchandnagar Industries
• VIESSMANN
• HARGASSNER
• Fröling Heizkessel- und Behälterbau Ges.m.b.H.
• DP CleanTech
• Thermodyne Boiler
• ANDRITZ
• Maxtherm Boilers
• WEISS - Wood-Fired and Biomass Boilers
• Prime Thermals
• TESPL
• Guntamatic Heiztechnik GmbH
• Sugimat
• Woodco
• ARITERM
• Schmid energy solutions
• ZHENGZHOU BOILER (GROUP)
• Binder Energietechnik Ges.m.b.H.
• KWB Energiesysteme GmbH, Windhager
• ÖkoFEN Forschungs- und Entwicklungs Ges.m.b.H.,
• Treco and Hoval.

Biomass Boiler Market News

• In June 2022, Babcock & Wilcox’s portfolio company B&W Renewable Service successfully completed the installation of biomass-fired boilers for a noteworthy green energy initiative in Europe. The purpose of these boilers is to generate district heating for numerous businesses in Denmark. By utilizing clean and renewable fuel, this project aims to provide sustainable heat while significantly reducing emissions. Alongside the boiler, B&W will also supply crucial components like external economizers, valves, instrumentation, and related equipment. The plant is on track to become operational in the second quarter of 2023, contributing to the region's sustainable energy goals.
   
• In April 2021, The Viessmann Group acquired a 34.3% stake in Value Added Engineering Group (VAE), an Australian HVAC solution provider. The acquisition strengthened the firm’s presence in the Asia Pacific region and facilitated its entrance into the Australian market. Moreover, the acquisition further increased Viessmann’s market share globally.
   

This biomass boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

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By Feedstock

• Woody Biomass
• Agricultural Waste
• Industrial Waste
• Urban Residue
• Others

By Product

• Stocker
• Fluidized Bed

By Application

• Residential
• Commercial
• Industrial

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Poland
  • Italy
  • Spain
  • Austria
  • Germany
  • Sweden
  • Russia
• Asia Pacific
  • China
  • India
  • Philippines
  • Japan
  • South Korea
  • Australia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • UAE
  • Nigeria
  • South Africa
• Latin America
  • Argentina
  • Chile
  • Brazil