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Report
North America Biomass Power Market Forecast 2024-2032
Market Report I 2024-12-23 I 151 Pages I Inkwood Research
KEY FINDINGS
The North America biomass power market is anticipated to rise with a CAGR of 5.87% over the forecasting years of 2024 to 2032, reaching a revenue of $26093.91 million by 2032. In terms of volume, the market was valued at 185.56 million MWh in 2023 and is projected to reach 339.69 million MWh by 2032, growing with a CAGR of 7.04% during the forecasted period.
MARKET INSIGHTS
The regional market's growth is attributed to the increasing demand for renewable energy sources, supportive government policies, advancements in biomass conversion technologies, and growing environmental awareness. Improved energy infrastructure and the availability of abundant biomass feedstocks, such as agricultural residues and forestry by-products, also contribute to the market expansion. However, the North American biomass power market is likely to be hindered by competition from other renewable energy sources, fluctuating biomass feedstock prices, and stringent environmental regulations.
REGIONAL INSIGHTS
The North America biomass power market growth assessment comprises the evaluation of the United States and Canada.
The United States holds the largest market share in North America, propelled by federal and state policies that encourage renewable energy adoption, such as tax incentives, renewable portfolio standards, and grants for biomass projects. According to the US Energy Information Administration's (EIA) latest Short-Term Energy Outlook, renewable energy is projected to supply 25% of US electricity generation in 2025, up from 22% in 2023. In 2022, renewables also contributed 22% to the nation's electricity production, with a significant portion derived from biomass power.
On the other hand, biomass electricity generation is projected to reach 23.5 billion kilowatt-hours (kWh), with an expected increase to 24.6 billion kWh in 2024. The EIA highlights that biomass is a critical renewable resource due to its ability to provide continuous, reliable baseload power, unlike intermittent renewables such as solar or wind. This reliability makes biomass a valuable asset in maintaining grid stability, subsequently playing a critical role in boosting the biomass power market growth in North America during the forecast period.
SEGMENTATION ANALYSIS
The North America biomass power market is segmented into feedstock, technology, and application. The technology segment is further classified into combustion, anaerobic digestion, gasification, co-firing and CHP, and landfill gas (LFG).
Anaerobic digestion is a vital technology segment in the North America biomass power market. This process breaks down organic materials-such as agricultural waste, manure, municipal solid waste, and wastewater sludge-in the absence of oxygen to produce biogas, mainly composed of methane and carbon dioxide. The biogas is used to generate electricity and heat, while the remaining digestate serves as a nutrient-rich fertilizer. This method not only produces renewable energy but also offers effective waste management by reducing landfill use and capturing methane emissions.
The growth of the anaerobic digestion segment is driven by supportive government policies, technological advancements, and increased environmental awareness. Federal and state incentives encourage its adoption in agricultural and municipal sectors for efficient waste management and energy production. The rising demand for renewable natural gas and its integration into existing energy systems further boost this segment. As efforts to reduce carbon footprints intensify, anaerobic digestion plays a crucial role in advancing sustainable energy solutions in North America.
COMPETITIVE INSIGHTS
Some of the top players operating in the North America biomass power market include Acciona SA, Drax Group PLC, etc.
Drax Group PLC, headquartered in the United Kingdom, is a leading renewable energy company specializing in biomass power generation. The company operates the Drax Power Station in North Yorkshire, which is one of the largest biomass-fueled power plants in the world. Drax is actively involved in producing sustainable electricity by converting biomass materials, such as compressed wood pellets, into renewable power, significantly contributing to the UK's energy supply and reducing reliance on fossil fuels.
One of Drax's notable projects is the implementation of Bioenergy with Carbon Capture and Storage (BECCS) technology at its North Yorkshire power station. This pioneering initiative aims to remove carbon dioxide from the atmosphere while generating renewable electricity, effectively delivering negative emissions.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.4.1. IMPACT OF COVID-19 ON THE BIOMASS POWER MARKET
2.5. MAJOR MARKET FINDINGS
2.5.1. SOLID BIOMASS WAS FOUND TO BE THE MOST WIDELY USED FEEDSTOCK
2.5.2. COMBUSTION IS THE LEADING TECHNOLOGY IN THE BIOMASS MARKET
2.5.3. INDUSTRIAL APPLICATIONS ARE BOOSTING BIOMASS UTILIZATION
2.5.4. ENVIRONMENTAL CONCERNS ARE FUELING MARKET EXPANSION
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. IMPLEMENTATION OF ADVANCED BIOMASS CONVERSION TECHNOLOGIES
3.1.2. REGULATORY AND POLICY REFORMS ARE ENCOURAGING MARKET GROWTH
3.1.3. SUSTAINABILITY INITIATIVES ARE PROPELLING INCREASED DEMAND FOR BIOMASS POWER
3.2. KEY RESTRAINTS
3.2.1. COMPETITION FROM OTHER SECTORS IN SECURING FEEDSTOCK SUPPLY
3.2.2. REQUIREMENT OF SUBSTANTIAL INITIAL CAPITAL INVESTMENT FOR BIOMASS ENERGY PLANTS
4. KEY ANALYTICS
4.1. PARENT MARKET ANALYSIS
4.2. KEY TECHNOLOGY TRENDS
4.2.1. UPGRADATION OF EXISTING POWER PLANTS BY INCORPORATING BIOENERGY WITH CARBON CAPTURE AND STORAGE
4.2.2. COMBINING BIOENERGY WITH OTHER RENEWABLE ENERGY SYSTEMS
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR NORTH AMERICA
4.5. MARKET MATURITY ANALYSIS
4.6. MARKET CONCENTRATION ANALYSIS
4.7. VALUE CHAIN ANALYSIS
4.7.1. FEEDSTOCK PROCUREMENT
4.7.2. FEEDSTOCK PROCESSING AND PREPARATION
4.7.3. POWER GENERATION THROUGH CONVERSION TECHNOLOGIES
4.7.4. TRANSMISSION AND DISTRIBUTION TO END-USER
4.8. KEY BUYING CRITERIA
4.8.1. FEEDSTOCK AVAILABILITY
4.8.2. CAPITAL INVESTMENT AND RELATED COSTS
4.8.3. TECHNOLOGICAL FEASIBILITY
4.8.4. REGULATORY AND FINANCIAL SUPPORT
4.9. BIOMASS POWER MARKET REGULATORY FRAMEWORK
5. MARKET BY FEEDSTOCK (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION MWH)
5.1. SOLID BIOMASS
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. LIQUID BIOMASS
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
5.3. BIOGAS
5.3.1. MARKET FORECAST FIGURE
5.3.2. SEGMENT ANALYSIS
5.4. MUNICIPAL SOLID WASTE
5.4.1. MARKET FORECAST FIGURE
5.4.2. SEGMENT ANALYSIS
6. MARKET BY TECHNOLOGY
6.1. COMBUSTION
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. ANAEROBIC DIGESTION
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. GASIFICATION
6.3.1. MARKET FORECAST FIGURE
6.3.2. SEGMENT ANALYSIS
6.4. CO-FIRING AND CHP
6.4.1. MARKET FORECAST FIGURE
6.4.2. SEGMENT ANALYSIS
6.5. LANDFILL GAS (LFG)
6.5.1. MARKET FORECAST FIGURE
6.5.2. SEGMENT ANALYSIS
7. MARKET BY APPLICATION
7.1. INDUSTRIAL
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. COMMERCIAL
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
7.3. RESIDENTIAL
7.3.1. MARKET FORECAST FIGURE
7.3.2. SEGMENT ANALYSIS
8. GEOGRAPHICAL ANALYSIS (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION MWH)
8.1. NORTH AMERICA
8.1.1. MARKET SIZE & ESTIMATES
8.1.2. NORTH AMERICA BIOMASS POWER MARKET DRIVERS
8.1.3. NORTH AMERICA BIOMASS POWER MARKET CHALLENGES
8.1.4. KEY PLAYERS IN NORTH AMERICA BIOMASS POWER MARKET
8.1.5. COUNTRY ANALYSIS
8.1.5.1. UNITED STATES
8.1.5.1.1. UNITED STATES BIOMASS POWER MARKET SIZE & OPPORTUNITIES
8.1.5.2. CANADA
8.1.5.2.1. CANADA BIOMASS POWER MARKET SIZE & OPPORTUNITIES
9. COMPETITIVE LANDSCAPE
9.1. KEY STRATEGIC DEVELOPMENTS
9.1.1. MERGERS & ACQUISITIONS
9.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
9.1.3. PARTNERSHIPS & AGREEMENTS
9.1.4. BUSINESS EXPANSIONS AND DIVESTITURES
9.2. COMPANY PROFILES
9.2.1. ACCIONA SA
9.2.1.1. COMPANY OVERVIEW
9.2.1.2. PRODUCTS
9.2.1.3. STRENGTHS & CHALLENGES
9.2.2. AMERESCO INC
9.2.2.1. COMPANY OVERVIEW
9.2.2.2. PRODUCTS
9.2.2.3. STRENGTHS & CHALLENGES
9.2.3. BABCOCK & WILCOX ENTERPRISES INC
9.2.3.1. COMPANY OVERVIEW
9.2.3.2. PRODUCTS
9.2.3.3. STRENGTHS & CHALLENGES
9.2.4. CEMEX
9.2.4.1. COMPANY OVERVIEW
9.2.4.2. PRODUCTS
9.2.4.3. STRENGTHS & CHALLENGES
9.2.5. DRAX GROUP PLC
9.2.5.1. COMPANY OVERVIEW
9.2.5.2. PRODUCTS
9.2.5.3. STRENGTHS & CHALLENGES
9.2.6. ENEL GREEN POWER
9.2.6.1. COMPANY OVERVIEW
9.2.6.2. PRODUCTS
9.2.6.3. STRENGTHS & CHALLENGES
9.2.7. ENVITEC BIOGAS AG
9.2.7.1. COMPANY OVERVIEW
9.2.7.2. PRODUCTS
9.2.7.3. STRENGTHS & CHALLENGES
9.2.8. ENVIVA PARTNERS LP
9.2.8.1. COMPANY OVERVIEW
9.2.8.2. PRODUCTS
9.2.8.3. STRENGTHS & CHALLENGES
9.2.9. GENERAL ELECTRIC COMPANY
9.2.9.1. COMPANY OVERVIEW
9.2.9.2. PRODUCTS
9.2.9.3. STRENGTHS & CHALLENGES
9.2.10. HITACHI ZOSEN CORPORATION
9.2.10.1. COMPANY OVERVIEW
9.2.10.2. PRODUCTS
9.2.10.3. STRENGTHS & CHALLENGES
9.2.11. MITSUBISHI HEAVY INDUSTRIES LTD
9.2.11.1. COMPANY OVERVIEW
9.2.11.2. PRODUCTS
9.2.11.3. STRENGTHS & CHALLENGES
9.2.12. ORSTED A/S
9.2.12.1. COMPANY OVERVIEW
9.2.12.2. PRODUCTS
9.2.12.3. STRENGTHS & CHALLENGES
9.2.13. RAIZEN SA
9.2.13.1. COMPANY OVERVIEW
9.2.13.2. PRODUCTS
9.2.13.3. STRENGTHS & CHALLENGES
9.2.14. RAMBOLL GROUP AS
9.2.14.1. COMPANY OVERVIEW
9.2.14.2. PRODUCTS
9.2.14.3. STRENGTHS & CHALLENGES
9.2.15. SIEMENS ENERGY AG
9.2.15.1. COMPANY OVERVIEW
9.2.15.2. PRODUCTS
9.2.15.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - BIOMASS POWER
TABLE 2: NORTH AMERICA REGULATORY FRAMEWORK
TABLE 3: NORTH AMERICA BIOMASS POWER MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 4: NORTH AMERICA BIOMASS POWER MARKET, BY FEEDSTOCK, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 5: NORTH AMERICA BIOMASS POWER MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2022 (IN MILLION MWH)
TABLE 6: NORTH AMERICA BIOMASS POWER MARKET, BY FEEDSTOCK, FORECAST YEARS, 2024-2032 (IN MILLION MWH)
TABLE 7: NORTH AMERICA BIOMASS POWER MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 8: NORTH AMERICA BIOMASS POWER MARKET, BY TECHNOLOGY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 9: NORTH AMERICA BIOMASS POWER MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 10: NORTH AMERICA BIOMASS POWER MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 11: NORTH AMERICA BIOMASS POWER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 12: NORTH AMERICA BIOMASS POWER MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 13: NORTH AMERICA BIOMASS POWER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN MILLION MWH)
TABLE 14: NORTH AMERICA BIOMASS POWER MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN MILLION MWH)
TABLE 15: KEY PLAYERS OPERATING IN NORTH AMERICA BIOMASS POWER MARKET
TABLE 16: LIST OF MERGERS & ACQUISITIONS
TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 19: LIST OF BUSINESS EXPANSIONS AND DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY TECHNOLOGY TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR NORTH AMERICA
FIGURE 4: MARKET CONCENTRATION ANALYSIS
FIGURE 5: VALUE CHAIN ANALYSIS
FIGURE 6: KEY BUYING CRITERIA
FIGURE 7: NORTH AMERICA BIOMASS POWER MARKET, GROWTH POTENTIAL, BY FEEDSTOCK, IN 2023
FIGURE 8: NORTH AMERICA BIOMASS POWER MARKET, BY SOLID BIOMASS, 2024-2032 (IN $ MILLION)
FIGURE 9: NORTH AMERICA BIOMASS POWER MARKET, BY LIQUID BIOMASS, 2024-2032 (IN $ MILLION)
FIGURE 10: NORTH AMERICA BIOMASS POWER MARKET, BY BIOGAS, 2024-2032 (IN $ MILLION)
FIGURE 11: NORTH AMERICA BIOMASS POWER MARKET, BY MUNICIPAL SOLID WASTE, 2024-2032 (IN $ MILLION)
FIGURE 12: NORTH AMERICA BIOMASS POWER MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2023
FIGURE 13: NORTH AMERICA BIOMASS POWER MARKET, BY COMBUSTION, 2024-2032 (IN $ MILLION)
FIGURE 14: NORTH AMERICA BIOMASS POWER MARKET, BY ANAEROBIC DIGESTION, 2024-2032 (IN $ MILLION)
FIGURE 15: NORTH AMERICA BIOMASS POWER MARKET, BY GASIFICATION, 2024-2032 (IN $ MILLION)
FIGURE 16: NORTH AMERICA BIOMASS POWER MARKET, BY CO-FIRING AND CHP, 2024-2032 (IN $ MILLION)
FIGURE 17: NORTH AMERICA BIOMASS POWER MARKET, BY LANDFILL GAS (LFG), 2024-2032 (IN $ MILLION)
FIGURE 18: NORTH AMERICA BIOMASS POWER MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023
FIGURE 19: NORTH AMERICA BIOMASS POWER MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 20: NORTH AMERICA BIOMASS POWER MARKET, BY COMMERCIAL, 2024-2032 (IN $ MILLION)
FIGURE 21: NORTH AMERICA BIOMASS POWER MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)
FIGURE 22: NORTH AMERICA BIOMASS POWER MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 23: UNITED STATES BIOMASS POWER MARKET, 2024-2032 (IN $ MILLION)
FIGURE 24: CANADA BIOMASS POWER MARKET, 2024-2032 (IN $ MILLION)
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