Global Biomass Boiler Market: Snapshot
Energy intensive gears, which are fundamental for industrial use, consume a huge amount of power, which makes introducing a biomass boiler framework a good alternative among numerous entrepreneurs, since it isn’t just viable at decreasing fuel costs, but also it likewise significantly improves your organizations carbon impression. This additionally obviously decreases flexibly chain necessities in the United Kingdom, and invigorates development through a significant decrease in overheads. Owing to this benefit, the global biomass boiler market is experiencing a major growth in coming years. Moreover, growing crisis of fuel in various countries is also a major factor that is boosting the growth of global biomass boiler market.
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- Biomass boiling or heating is especially helpful where high amount of processing heat is required, for instance in bottling works, refineries and food handling. A business biomass kettle gives an ensured rate of profitability and has likewise been bolstered and supported by the UK Government’s Renewable Heat Incentive (RHI) plot, which was presented in April 2014. Also, you can guarantee under you yearly speculation stipend. These are only a few instances of how valuable a biomass evaporator can be in your home or working environment. This is also a major factor that is boosting the growth of global biomass boiler market days.
- Endeavoring to lessen the business’ impact on the environment is an insightful business move, especially as the pressure on companies to decrease their carbon emissions is probably going to rise exponentially as the world move towards our net zero carbon emission by 2050. In any case if a businesses is thinking positively about saving the environment, it has to change way its produces and consume electricity or power. Owing to these thoughts among business owners, the global biomass boiler market is projected to grow exponentially in coming years.
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Global Biomass Boiler Market: Snapshot
Biomass boilers market is gaining widespread appeal across the globe owing to their low carbon footprint and are witnessing a vast rise in demand across the commercial, industrial, as well as industrial sectors. The global market for biomass boilers is envisaged to exhibit an impressive CAGR in the next few years as the focus of administrative bodies rapidly shifts from fossil fuels such as oil and coal to cleaner energy resources such as wood fuels for producing heat and/or electricity.
Enforcement of boiler standards across a number of regions in the near future is expected to encourage investments in the global biomass boiler market. Encouraging regulatory framework and government support in the form of subsidies and tax benefits to power generation projects using cleaner sources of energy are also projected to augment the market in the near future. Transparency Market Research estimates that the global biomass boiler market will exhibit an exponential CAGR of 19.9% over the period between 2014 and 2024, rising from a valuation of US$1.80 bn in 2013 to an opportunity of US$8.90 bn by 2024.
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Woody Biomass to Remain Most Preferred Biomass for Biomass Boilers Globally
The report segments the market on the basis of the type of feedstock used into urban residues, woody biomass, biogas and energy crops, and agriculture and forest residues. Of these, the segment of woody biomass is presently the most in-demand and used feedstock for powering biomass boilers, accounting for nearly 78% of the overall market in 2013. The segment is expected to continue to account for a significant share of the global biomass boiler market. The segment of agriculture and forest residues is expected to continue to hold its second-leading position in the global biomass boilers market throughout the forecast period.
On the basis of end-user, the report segments the global biomass boiler market into industrial, commercial, and residential sectors. Of these, the commercial segment held the dominant share in the market in 2013 and is likely to retain the dominant stance over the forecast period as well. Heating and power generation applications of biomass boilers in the commercial segment are increasingly gaining prominence across a number of regional markets with countries that are strictly adhering to carbon-emission related regulations.
Europe to Provide Massive Growth Opportunities for Biomass Boilers Market
In terms of geography, the markets for biomass boilers across regions such as Europe, North America, Asia Pacific, Latin America, and Middle East and Africa are covered in the report. The market in Europe, led by the U.K. held the dominant share in the market in 2013. Encouraging government policies in the region aimed at the increased use of renewable and low carbon footprint fuels are central to Europe’s top stance in the global biomass boilers market. The market for biomass boilers is likely to surpass other regional markets in terms of growth opportunities and revenue contribution to the global market over the forecast period as well, finding massive growth opportunities in the sectors of heat generation and power production.
- The global biomass boilers markets features a highly fragmented vendor landscape owing to the presence of a number of companies operating on the international front and several regional markets. Some of the leading companies in the market are ETA Heiztechnik GmbH, Alstom SA, Hurst Boiler & Welding Co, Inc., Advanced Recycling Equipment, Inc., Baxi Group, Jernforsen Energi System AB, Garioni Naval SpA, Foster Wheeler AG, Ecovision Systems Ltd., Polytechnik GmbH, Thermax Ltd, LAMBION Energy Solutions GmbH, Leroux & Lotz Technologies, Energy Innovations (UK) Ltd, Justsen Energiteknik A/S, Kohlbach Group, and Lin-Ka Maskinfabrik A/S.
