Industrial Biomass Boiler Market Is Anticipated to Reach Around USD 5,896.45 Million in 2028 – Credence Research

The revenue generated by the global Industrial Biomass Boiler market in 2021 was over USD 2,908.30 million and expected to generate revenue worth USD 5,896.45 million in 2028.

The Global Industrial Biomass Boiler Market generated revenue of around USD 2,908.30 million in 2021 and is anticipated to grow a CAGR of over 9.13% during the forecast period from 2022 to 2028 to reach around USD 5,896.45 million in 2028. While, cumulative growth opportunity presented by the global Industrial Biomass Boiler is around USD 33.15 billion during 2022 to 2028.

Global Industrial Biomass Boiler Market, 2021 – 2028 (USD Million)

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Biomass boilers are primarily used to generate heat, so they’re also regarded as heating systems. These boilers are used in huge businesses or industries, such as fisheries, hotels, and chemicals. Biomass boilers take up forest waste such as logs, branches, and woods and burn them to generate heat.

Since they’re highly effective in generating sufficient heat, biomass boilers are also used for reducing greenhouse gas emissions due to the lack of carbon it provides. Biomass boilers are used for generating biomass fuel and electricity as well. Since the latter two are witnessing an increase in their demands, the demand for industrial biomass boilers is also expected to grow.

Wooden Fuel Industrial Biomass Boiler to Grow at Rapid Pace

Wooden Biomass and Agricultural Residue are two major types of Industrial Biomass Boilers. Wooden fueled Industrial Biomass Boiler dominate the demand with over 55% share in 2021. It is also expected to be the fastest growing segment. However, agricultural residue is also expected to hold the significant share. Increasing availability of agricultural waste is paving the way for future growth of Industrial Biomass Boiler.

Pulp & Paper Industry to Lead

Biorefineries, Pulp and Paper, Sugar Mills, Rice Mills and Others are major application markets for the global Industrial Biomass Boiler industry. Pulp & paper is most dominating market for Industrial Biomass Boiler followed by the sugar mills, rice mills. Pulp & paper industry hold over 30% share in 2021. While, sugar and rice mills are expected to advance at a rapid pace owing to huge availability of agricultural waste.

Europe is Leading Industrial Biomass Boiler Demand

Stringent environmental regulations, increasing concerns related to biomass management, growing landfill areas, increasing energy prices and growing government support for renewable energy sectors are some of the key factors driving the demand for Industrial Biomass Boiler. Germany, UK and France are leading markets for Industrial Biomass Boiler. While, Asia Pacific is another growing region for Industrial Biomass Boiler. China, Japan, India and South Korea are leading the growth of Industrial Biomass Boiler industry in the region.

Major players operating in the can sealers industry include but not limited to Andritz AG, Babcock & Wilcox Enterprises Inc., Bharat Heavy Electricals Ltd., Dongfang Electric Corp., Doosan Heavy Industries & Construction Co. Ltd., General Electric Co., Isgec Heavy Engineering Ltd., Thermax Ltd., Valmet Oyj and Xizi United Holdings Ltd. Global Industrial Biomass Boiler market is characterized by the presence of large number of manufacturers across the world. Increasing production capacity in order to achieve economies of scale and growing in market share is primary focus of the industry participants.

Market Segmentation

Global Industrial Biomass Boiler Market by Type, 2016 – 2028

Wooden Biomass
Agricultural Residue

Global Industrial Biomass Boiler Market by Application, 2016 – 2028

Biorefineries
Pulp and paper
Sugar Mills
Rice Mills
Others

Global Industrial Biomass Boiler Market by Company, 2016 – 2028

Andritz AG
Babcock & Wilcox Enterprises Inc.
Bharat Heavy Electricals Ltd.
Dongfang Electric Corp.
Doosan Heavy Industries & Construction Co. Ltd.
General Electric Co.
Isgec Heavy Engineering Ltd.
Thermax Ltd.
Valmet Oyj
Xizi United Holdings Ltd.
Others

Browse the full report at https://www.credenceresearch.com/report/industrial-biomass-boiler-market

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