Albany, NY, June 29, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market research report titled Biomass Boiler Market - Global & U.K. Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022. According to the report, the global biomass boiler market was valued at USD 1,801.7 million in 2013 and is anticipated to reach USD 8,907.0 million by 2022, expanding at a CAGR of 19.9% between 2014 and 2022.
Biomass boilers are generally fired on wood fuels such as wood chips and wood pellets to produce heat and power, rather than on fossil fuels such as oil, gas, and coal. A biomass boiler, which is largely a wood-fueled heating system, is utilized in both heating and power generation applications. Rapid industrialization and economic growth in developing and emerging economies such as China, India, and Brazil would fuel the demand for energy, including bioenergy, from these countries. This, in turn, is expected to drive the biomass boiler market in the near future.
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The market for biomass boiler is also expected to register significant growth on account of individual policy targets set by the regional geographies. These policies are targeted towards the supply of reliable, affordable, and secure energy to promote economic development and improve electricity access. The use of biomass as an energy source can provide a number of energy, economic, employment, and environmental benefits. Installation of biomass power plants plays a key role in achieving climate policy objectives.
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For this market study, biomass boilers - on the basis of feedstock type - have been segmented into woody biomass, agriculture & forest residues, biogas & energy crops, urban residues, and others. Increasing utilization of biomass, including manure and plant materials to generate electricity and to produce biomass fuels for transportation can provide a low-carbon and sustainable alternative to fossil fuels. According to current estimates, woody biomass remains the single-largest feedstock for heat and power generation through biomass and occupies the major market share globally in terms of utilization of feedstock by biomass boilers. This segment accounted for nearly 78% of the global biomass boiler market in 2013.
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The biomass stoker boilers accounted for the highest market share in 2013; this segment is anticipated to dominate the overall biomass boiler market throughout the forecast period. The commercial end-user segment dominated the biomass boiler market in 2013 and is expected to continue to dominate the market over the forecast period. The commercial end-user segment was followed by industrial and residential segments in 2013. Heating is currently the largest application segment of the biomass boiler market, accounting for nearly 80% of the overall biomass boiler market in 2013.
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Key participants in the global biomass boiler market include Advanced Recycling Equipment, Inc., Alstom SA, Baxi Group, Ecovision Systems Ltd., Energy Innovations (UK) Ltd, ETA Heiztechnik GmbH, Foster Wheeler AG, Garioni Naval SpA, Hurst Boiler & Welding Co, Inc., Jernforsen Energi System AB, Justsen Energiteknik A/S, Kohlbach Group, LAMBION Energy Solutions GmbH, Leroux & Lotz Technologies, Lin-Ka Maskinfabrik A/S, Mawera, Nexterra, Polytechnik GmbH, RENTECH Boiler Systems, Inc., Schmid Energy, The Babcock & Wilcox Company, Thermax Ltd, VAS Energy Systems International GmbH, Wellons, Inc., Wood Energy, and Zhengzhou Boiler Co., Ltd. The report provides an overview of these companies, followed by their financial revenues, business strategies, and recent developments.
The Global Biomass Boiler Market has been segmented as follows:
Global Biomass Boiler Market: Feedstock Type Analysis
- Woody Biomass
- Agriculture & Forest Residues
- Biogas & Energy Crops
- Urban Residues
Global Biomass Boiler Market: Product Type Analysis
- Stoker Boilers
- Bubbling Fluidized Bed (BFB) Boilers
- Circulating Fluidized Bed (CFB) Boilers
Global Biomass Boiler Market: End-user Analysis
Global Biomass Boiler Market: Application Analysis
- Power Generation
Global Biomass Boiler Market: Regional Segment Analysis
- Rest of Europe
- Rest of Asia Pacific
Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- Rest of Latin America
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