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Biomass Boiler Market Size, Share and Global Trend By Feedstock (Woody biomass, Forest residue, Agriculture, Biogas & Energy Crop, Urban Residue), By Type (Fully Automated Biomass Boiler, Semi-Automated Biomass Boiler, Combined Heat and Power System), By Application (Heating, Power Generation), By End-user (Residential, Commercial, Industrial), and Geography Forecast till 2026
The utilization of biomass boiler to reduce carbon emission by consuming wood dust, forest residue, and others is a factor driving the global biomass boiler market, says Fortune Business Insights in a report, titled “Biomass Boiler“Market Size, Share and Global Trend By Feedstock (Woody biomass, Forest residue, Agriculture, Biogas and Energy Crop, Urban Residue), By Type (Fully Automated Biomass Boiler, Semi-Automated Biomass Boiler, Combined Heat, and Power System), By Application (Heating, Power Generation), By End-user (Residential, Commercial, Industrial), and Geography Forecast till 2026. The increasing demand for biomass boiler for its carbon-neutral properties is expected to promote the global market.
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License Agreement Signed BandW Vølund Will Offer Growth Opportunities
Babcock and Wilcox Enterprises, Inc., a global leader in advanced energy and environmental technologies and services announced through its Denmark-based subsidiary, Babcock and Wilcox Vølund A/S, a licensing agreement. The agreement is aimed to provide water-cooled vibrating grate technology for biomass boilers to Thyssenkrupp Industries India Pvt. Ltd. on an exclusive basis for projects in Asian countries such as India, Nepal, Sri Lanka, Bangladesh, Myanmar, and Bhutan. The licensing agreement is predicted to back industrial biomass boilers owing to biomass combustion technology which would assist industrial and power users to produce clean renewable energy and thus benefit the environment by reducing carbon emissions.
Some of the major companies that are present in the biomass boiler market are
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1. By Feedstock
2. By Type
3. By Application
4. By End-user
5. By Geography
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Furthermore, the deployment of circulating fluidized bed (CFB) boiler technology is also expected to support the growth of the market. For instance, Doosan Lentjes will deliver its circulating fluidized bed (CFD) boiler technology at a new biomass-based power plant located in Sodengaura, Chiba Prefecture, Japan. The project will be executed under the terms of a larger EP contract awarded to Lentjes’ parent company Doosan Heavy Industries and Construction (DHIC) headquartered in Korea. Moreover, Sumitomo SHI FW getting awarded for its design and supply is also predicted to boost biomass boiler market revenue. For instance, a contract was awarded by SK Engineering and Construction Co. Ltd. to Sumitomo SHI FW for its design and supply of SMG Energy’s SMG Boiler Power Plant to be located in Gunsan City in the Republic of Korea. The project is scheduled to start its commercial operation by December 2020.
Key Industry Developments
These developments witnessed in the global biomass boiler market will be crucial to its growth in the coming years.
Key Market Driver Low carbon emission and relatively lower fuel prices
Key Market Restraint Require considerably greater space and regular maintenance
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Rising Adoption of Renewable Sources of Energy Will Facilitate Growth in North America
Geographically, the global biomass boiler market share is segmented between North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Rising adoption of green energy biomass renewables in European nations such as Germany, Sweden, Austria, and Finland for the production of electricity and heat is a factor expected to boost the biomass boiler market in the region. Furthermore, in order to address the threat of rising carbon emission, Europe is inclining more towards non-conventional energy, which in turn will accelerate biomass boiler market growth in the region. North America is predicted to grow at a significant rate during the forecast period owing to rising awareness towards the adoption of renewable sources of energy to reduce carbon emission. Asia Pacific is expected to rise at a considerable rate owing to the rapid urbanization, growing industrialization and adoption of green energy in countries such as India, Japan, and China. In Latin America, agricultural wastages are used as biomass fuel for electricity generation. The presence of key
Major Table of Content forBiomass Boiler Market:
An Overview of the Impact of COVID-19 on this Market:
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