Environmental Sustainability of Industrial Biomass Boilers to Drive Global Industrial Biomass Boiler Market
Industrial biomass boilers are usually fired on wood pellets and wood chips instead of coal, oil, and gas to produce power and heat. These boilers are gaining popularity across a number of sectors due to the growing demand for bioenergy. The global industrial biomass boiler market is anticipated to expand robustly at a CAGR of 11.1% during the period between 2016 and 2025. The overall market was worth US$68.2 bn in 2015 and is projected to reach a valuation of US$193.1 bn by 2025.
• What is the commonly used feedstock in industrial biomass boilers?
Wood deliverable remains the single-largest feedstock for heat and power generation through biomass. Other commonly used feedstock inindustrial biomass boilers includes landfill residues, agricultural residue including high energy crops such as miscanthus, maize, and willow. The increasing utilization of biomass, including plant and manure materials to generate electricity will significantly help in the conservation of non-renewable sources of energy. Thus, the installation of biomass power plants will help in attaining climate policy objectives.
• Which are the key regions that hold immense potential for the growth of the global industrial biomass boiler market?
The usage of biomass as an energy source has a number of environmental and economic advantages. While the developed economies across Europe and North America are fast realizing the importance of industrial biomass boilers and are framing policies targeted towards affordable and green energy, the developing nations in South and Central America, Asia Pacific, and Africa are largely untapped regions in the global industrial biomass boiler market.
In Asia Pacific, Singapore is among the pioneers in waste management. Recently, Mitsubishi Heavy Industries and Hyflux, a Singapore-based water company, have secured loans worth US$473 mn to develop a waste to energy plant. The TuasOne plant is anticipated to generate 120 MW of energy by processing 3,600 tons of waste per day. In the plant, biomass steam boilers will be fuelled by industrial and commercial waste to generate electricity.
• How is CHP production defining the future outlook of the global industrial biomass boiler market?
The key application areas of industrial biomass boiler include industries such as breweries, pulp and paper, sawmills, power generation, CHP production, and others. CHP production has majorly driven the demand from the global industrial biomass boiler market since 2014.
Combined heat and power generation is the key to building a greener economy. As a result, governments are focussing more on CHP production. For example, in Britain, the manufacturing sector consumes a large amount of heat from non-renewable resources. In an effort to make the U.K. economy greener, the Green Investment Bank and Equitix are investing funds worth £25 mn to build a plant for CHP production in the Wrexham Industrial Estate located in Wales. The plant is expected to generate 34 GWh of energy per year. The construction of such environmentally sustainable plants across nations will fuel the demand for industrial biomass boiler market.