Industrial Biomass Boiler Market Report and Forecast 2023-2028

According to the report, the global industrial biomass boiler market is projected to grow at a CAGR of 2.8% between 2023 and 2028 to reach a value of USD 8.04 billion by 2028. Aided by the global push for sustainable energy solutions and the rising demand for eco-friendly industrial operations, the market is expected to grow significantly by 2028.

Industrial biomass boilers harness biological material as fuel to generate heat or both heat and electricity. The primary fuel source commonly used is wood, in various forms ranging from chips, pellets to even organic waste from agricultural activities. With the industrial sector aiming to reduce its carbon footprint and achieve sustainability goals, biomass boilers are increasingly becoming a preferred choice due to their low environmental impact.

The undeniable urge for industries worldwide to shift from conventional energy sources to sustainable alternatives propels the industrial biomass boiler market growth. Biomass boilers not only ensure a reduction in the emission of greenhouse gases but also aid in waste management by utilising organic waste as fuel. This dual benefit - of environment conservation and effective waste use - underscores the growing appeal of biomass boilers.

According to the industrial biomass boiler market analysis, the consistent surge in energy prices, particularly fossil fuels, has made industries re-evaluate their energy sourcing strategies. Biomass, being comparatively cost-effective and less susceptible to price fluctuations, has found favour among many industrial giants. These boilers, apart from offering economic benefits, also allow industries to fortify their green credentials, a factor becoming progressively significant in today's eco-conscious market.

The myriad applications of industrial biomass boilers across several sectors further escalate their demand. Whether it's the textile industry, which requires heat for dyeing and drying, or the chemical industry, which needs steam for various processes, biomass boilers have carved a niche. The food and beverage sector, with its significant heating requirements for cooking, sterilisation, and pasteurisation, is also turning to biomass-fuelled solutions.

The waste-to-energy trend, gaining traction globally, also augments the industrial biomass boiler market demand. Instead of disposing of agricultural or organic waste, industries are recognising the value it holds as a fuel source. This not only reduces the waste burden on the environment but also ensures a steady fuel supply for the boilers.

Market Segmentation

The market can be divided based on fuel type, end use, and region.

Market Breakup by Fuel Type

• Woody Biomass
• Agricultural Residue

Market Breakup by End Use

• Pulp and Paper
• Biorefineries
• Sugar Mills
• Rice Mills
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial biomass boiler market.

Some of the major players explored in the report are as follows:

• Andritz AG
• Babcock & Wilcox Enterprises Inc.
• General Electric Company
• Thermax Ltd.
• Others

About the Analyst

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.