In the highly fragmented global market for industrial
biomass boilers, none of the large vendors such as Babcock &
Wilcox Company, Baxi Group Limited, and Thermax, held a market share
higher than 10% in 2015, states TMR in a recent report. The market
features a vast network of biomass suppliers, which cumulatively
accounted for a share of over 59% in the global market in 2015.
Vertical integration, partnerships, or both will be no doubt
essential for the development of the market.
To gain a competitive edge, biomass suppliers will
have to pay more focus on ways of improving supply-chain efficiency.
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Additional efforts to increase the yield and
selectivity of separation and transformation process will be
instrumental in reducing costs and improving quality of products.
Suppliers will also have to increase their focus on optimizing
transportation to reduce overall costs of operations, TMR suggests.
Enforcement of Boiler Standards and Government
Support to Boost Investments in Industrial Biomass Boiler Market
The rapid rate of industrialization and economic
development, especially in developing regions, have highlighted the
need for implementing more renewable energy technologies and systems
across the world. Industrial boilers account for a substantial share
of total energy consumption of an economy and are major emitters of
gases like CO2 annually.
Thus, government bodies are increasingly encouraging
industrial boilers that are powered by biomass through tax incentives
and feed-in tariffs. The favorable government policies and regulatory
framework will encourage investors to enter in the industrial biomass
boilers market as well as several industries to switch to
eco-friendly biofuels. Emission regulations and enforcement of strict
boiler standards are also proving effective in boosting the adoption
of industry scale biomass boilers across the globe.
Europe to Provide Most Attractive Growth
Opportunities
Europe is at the forefront of development efforts in
the field of industrial biomass boilers with many new industrial
biomass boiler projects announced in the past few years. Though the
region lags in terms of installed capacity of biomass boilers, with
3,429.37 MW capacity in 2014 (North America led with 5,893.28 MW
capacity), it is expected to expand at the highest, an estimated 12%
CAGR through 2015-2023, in terms of installed capacity. In terms of
valuation, the region is expected to rise at a 16.9% CAGR through the
same period.
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The European Union has committed to reducing carbon
emissions by 80% by 2050 and is constantly encouraging the increased
use of renewable energy sources in the industrial and domestic
sectors. Policies such as Renewable Heat Incentive (RHI), which
provide funds and tax incentives for the development of renewable
power technologies and projects, are also expected to provide long
term support to the biomass boiler market in Europe.
The market is projected to face stiff competition
from conventional coal- and oil-fired boilers in regions such as
North America and Asia Pacific and will observe moderate to high
growth opportunities through 2015-2023. The market in these regions
will be driven majorly by the rising concerns and increasingly strict
emission regulations.
How is the Global Opportunity Shaping Up?
The global market for industrial biomass boilers
holds growth opportunity worth US$193.1 bn by 2025. The market, which
had a valuation of US$68.2 bn in 2015, will exhibit a favorable 11.1%
CAGR through the forecasting horizon.
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The application area of combined heat and power (CHP)
generation accounted for a dominant 24% in the market in 2015. CHP
systems are known to operate at energy efficiency levels as high as
80% while conventional methods of producing heat and power separately
have combined efficiencies of around 45%.
The review is based on a recent market research
report published by Transparency Market Research, titled “Industrial
Biomass Boiler Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2016 – 2025.”
The market is segmented as follows:
Global Industrial Biomass Boiler Market: Capacity
Type Analysis
- ~2-10 MW
- ~10-25 MW
- ~25-50 MW
Global Industrial Biomass Boiler Market:
Application Type Analysis
- Pulp & Paper Industry
- Brewery Industry
- Sawmill Industry
- CHP Production
- Power Generation
- Others
Global Industrial Biomass Boiler Market: Feedstock
Type Analysis
- Wood Deliverable
- Landfill Residues
- Agricultural Residues
About
Us
Transparency Market Research (TMR) is a global market intelligence
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company’s exclusive blend of quantitative forecasting and trend
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of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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