Europe to Continue to Enjoy Leading Shares in Biomass Boiler Market

The depleting sources of fossil fuels such as coal and the need for reducing the emission of greenhouse gases have brought about many changes in the way industries operate and think. The growing concern regarding environmental preservation has led to the development and use of alternative fuel, which are much cleaner and therefore greener. The biomass market is witnessing a healthy growth from the past few years on account of all these factors. Biomass has emerged as a low-carbon and sustainable alternative for fossil fuels and is being used for heat and power generation. The need to minimize the dependence on fossil fuels has fueled the efforts for finding new and adopting alternative fuels. Biomass is carbon-neutral fuel and is now being adopted across the globe, in both developed and developing nations. Biomass boilers are being used for the generation of power and heat across households, businesses, and communities both big and small.

According to a recent report by Transparency Market Research (TMR), the global biomass boiler market will be worth US$10,752.4 mn in 2024, expanding at a 18.1% CAGR from 2016 to 2024. Given below in the blog post, TMR answers three important questions with regards to the global biomass boiler market:

Q. Of the different types of biomass, which type is currently leading? 

As of now, the most commonly used variety of biomass that is being utilized is woody biomass. Woody biomass accounted for over 77% of the total market in 2015. The popularity of this type of biomass is high as it has been traditionally used by directly burning it for cooking and heating; however, with advent of technology, woody biomass is now converted into electricity. Some of the other types of biomass used as a fuel for biomass boilers include urban residues, energy crops, biogas, and agriculture and forest residue. As the use of woody biomass has recently started causing concerns relating to pollution and climate changes, the market for this segment will see a drop. The agriculture and forest residue will witness healthy growth in the future. The urban residues segment will also emerge as an attractive market.

Q. Which regional segment will emerge most lucrative in the years to come?

Europe is currently leading in the biomass boiler market and accounted for 67% of the market in 2015. Europe is estimated to continue to retain its leading position through 2024. This is because the market for biomass boilers is well established in countries like Sweden, the U.K., and Finland. The market for biomass boilers will also see significant growth opportunities in Asia Pacific. This region is anticipated to exhibit a 16.6% CAGR between 2016 and 2024 on account of the aggressive renewable energy targets that are set by developed and developing nations in this region. The supportive regulatory framework is also giving an impetus to the growth of the biomass boiler market in this region.

Q. What are the key challenging factors that will hamper the growth of the global biomass boilers market?

One of the biggest challenges for the biomass boiler market is the decrease in teh oeverall efficiency of biomass with time. With time, emission of pollutants, impacts of carbon burnout, and ash deposition occurs in biomass boilers. There also exists several problems relating to the supply, handling, storage, and transport of biomass. Another issue is the high moisture content in certain biomass feedstock, which creates many problems during storage and transport. The cost of transportation and storage also increases on account of the high moisture content of biomass as they have low-energy densities as opposed to fossil fuels.


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