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ASIA-PACIFIC BIOMASS POWER MARKET FORECAST 2022-2030

The Asia-Pacific biomass power market is evaluated to register a CAGR of 6.35% in terms of revenue and 6.22% in terms of volume during the forecast period of 2022 to 2030, capturing a revenue share of $51.78 billion by 2030.

ASIA-PACIFIC BIOMASS POWER MARKET FORECAST 2022-2030

Asia-Pacific Biomass Power Market by Feedstock (Solid Biomass, Liquid Biomass, Biogas, Municipal Solid Waste) Market by Technology (Anaerobic Digestion, Combustion, Gasification, Co-firing & CHP, LFG) Market by End-user (Residential, Commercial, Industrial) By Geography

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The Asia-Pacific biomass power market is evaluated to register a CAGR of 6.35% in terms of revenue and 6.22% in terms of volume during the forecast period of 2022 to 2030, capturing a revenue share of $51.78 billion by 2030.

Key factors such as favorable policies, plans, as well as research & development (R&D) initiatives, the increasing availability of biomass feedstock in various countries like Indonesia, China, Thailand, and India, and the presence of financial incentive schemes for renewable power sources are set to propel the market growth of the region. However, the lack of investment from the private sector and insufficient infrastructure for the construction of biomass plants are set to hinder the Asia-Pacific biomass power market growth.

Asia-Pacific Biomass Power Markets

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The Asia-Pacific biomass power market growth assessment entails the study of Japan, South Korea, Thailand, China, India, Australia, Vietnam, and Rest of Asia-Pacific. China greatly relies on coal in order to produce electricity. However, the country’s coal usage continued to decline from 2013 to 2016 on account of China’s commitment to leading the battle against global warming as well as carbon emissions. Moreover, renewable energy facilities based on wind, solar, biomass, and hydropower, in addition to gas-fired power plants, are also steadily expanding across the nation. Aligning with this, China has witnessed significant growth in the installed capacity of biomass electricity since the year 2006. For instance, the installed capacity for biomass electricity in the country expanded to over 14.8 GW by 2017 from 1.4 GW in 2006.

Conversely, India has the potential to have an installed capacity of approximately 18 GW of biomass power. This is mainly accredited to the abundant availability of biomass resources in the nation. India’s Ministry of New and Renewable Energy also launched a financial support scheme in 2019, primarily for biomass power projects. Under this initiative, a fund of $34,200 per MW, as well as $68,500 per MW of surplus exportable power capacity according to the type of biomass fuel utilized, will be granted to shortlisted biomass-cogeneration projects. Hence, the aforementioned aspects are set to propel the biomass power market growth in the Asia-Pacific over the forecast years.

The Asia-Pacific biomass power market is segmented into feedstock, technology, and end-user. The end-user segment includes residential, commercial, and industrial. In residential applications, biomass is utilized for electric power generation, combined heat and power, space heating, and cooking. While wood is the most common fuel source, several different materials are used as well. Also, the majority of other types of biomass can be converted into bio-oil through pyrolysis, subsequently used in furnaces and boilers.

Biomass has the highest potential for mass employment as well as small scale business development. Characterized by lower-cost technologies combined with freely available raw materials, biomass continues to remain a predominant energy source in most countries.

Some of the key companies operating in the Asia-Pacific biomass power market are Mitsubishi Heavy Industries Ltd, Thermax Ltd, General Electric Company, etc.

Thermax Limited, headquartered in India, is involved in the manufacturing and sale of boilers, industrial chemicals, heating and cooling equipment, and water and waste management equipment. The company also undertakes turnkey contracts for power plants, in addition to offering maintenance and operation services for the same. Thermax Limited operates via two segments, namely environment and power.

Report Synopsis

Report Scope

Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Billion) and Volume (MWh)
Segments Analyzed Feedstock, Technology, End-User
Countries Analyzed Japan, South Korea, Thailand, China, India, Australia, Vietnam, and Rest of Asia-Pacific
Companies Analyzed

Mitsubishi Heavy Industries Ltd, General Electric Company, Thermax Ltd, Suez Environment Company, Xcel Energy Inc, Ramboll Group, Babcock & Wilcox Enterprises Inc, Orsted, Ameresco Inc, Vattenfall AB, E.ON Energy, Veolia Environment SA, Valmet Oyj

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • AFFORDABLE PRICES OF ENERGY PRODUCED BY BIOMASS-FIRED POWER PLANTS
        • FAVORABLE GOVERNMENT POLICIES AND REGULATIONS
      • KEY RESTRAINTS
        • AVAILABILITY OF SEASONAL BIOMASS MATERIAL
        • RENEWABLE POWER RESOURCES AS A SUBSTITUTE
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON BIOMASS POWER MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
      • KEY BUYING CRITERIA
        • FAVORABLE REGULATIONS
        • APPLICATION
      • REGULATORY FRAMEWORK
    2. MARKET BY FEEDSTOCK (IN TERMS OF REVENUE: $ BILLION & IN TERMS OF VOLUME: MILLION MWH)
      • SOLID BIOMASS
      • LIQUID BIOMASS
      • BIOGAS
      • MUNICIPAL SOLID WASTE
    3. MARKET BY TECHNOLOGY
      • ANAEROBIC DIGESTION
      • COMBUSTION
      • GASIFICATION
      • CO-FIRING & CHP
      • LFG
    4. MARKET BY END-USER
      • RESIDENTIAL
      • COMMERCIAL
      • INDUSTRIAL
    5. GEOGRAPHICAL ANALYSIS (IN TERMS OF REVENUE: $ BILLION & IN TERMS OF VOLUME: MILLION MWH)
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • INDIA
          • JAPAN
          • SOUTH KOREA
          • THAILAND
          • AUSTRALIA
          • VIETNAM
          • REST OF ASIA-PACIFIC
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • AMERESCO INC
        • BABCOCK & WILCOX ENTERPRISES INC
        • ON ENERGY
        • GENERAL ELECTRIC COMPANY
        • MITSUBISHI HEAVY INDUSTRIES LTD
        • ORSTED
        • RAMBOLL GROUP
        • SUEZ ENVIRONMENT COMPANY
        • THERMAX LTD
        • VALMET OYJ
        • VATTENFALL AB
        • VEOLIA ENVIRONMENT SA
        • XCEL ENERGY INC

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – BIOMASS POWER

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: ASIA-PACIFIC BIOMASS POWER MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 4: ASIA-PACIFIC BIOMASS POWER MARKET, BY FEEDSTOCK, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 5: ASIA-PACIFIC BIOMASS POWER MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2021 (IN MILLION MWH)

    TABLE 6: ASIA-PACIFIC BIOMASS POWER MARKET, BY FEEDSTOCK, FORECAST YEARS, 2022-2030 (IN MILLION MWH)

    TABLE 7: ASIA-PACIFIC BIOMASS POWER MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 8: ASIA-PACIFIC BIOMASS POWER MARKET, BY TECHNOLOGY, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 9: ASIA-PACIFIC BIOMASS POWER MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 10: ASIA-PACIFIC BIOMASS POWER MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 11: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 12: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 13: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION MWH)

    TABLE 14: ASIA-PACIFIC BIOMASS POWER MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION MWH)

    TABLE 15: LEADING PLAYERS OPERATING IN ASIA-PACIFIC 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 & DIVESTITURES   

    LIST OF FIGURES

    FIGURE 1: POWER GENERATION FLOW OF BIOMASS POWER PLANT

    FIGURE 2: KEY MARKET TRENDS

    FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 4: OPPORTUNITY MATRIX

    FIGURE 5: VENDOR LANDSCAPE

    FIGURE 6: VALUE CHAIN ANALYSIS

    FIGURE 7: KEY BUYING CRITERIA

    FIGURE 8: ASIA-PACIFIC BIOMASS POWER MARKET, GROWTH POTENTIAL, BY FEEDSTOCK, IN 2021

    FIGURE 9: ASIA-PACIFIC BIOMASS POWER MARKET, BY SOLID BIOMASS, 2022-2030 (IN $ BILLION)

    FIGURE 10: ASIA-PACIFIC BIOMASS POWER MARKET, BY LIQUID BIOMASS, 2022-2030 (IN $ BILLION)

    FIGURE 11: ASIA-PACIFIC BIOMASS POWER MARKET, BY BIOGAS, 2022-2030 (IN $ BILLION)

    FIGURE 12: ASIA-PACIFIC BIOMASS POWER MARKET, BY MUNICIPAL SOLID WASTE, 2022-2030 (IN $ BILLION)

    FIGURE 13: ASIA-PACIFIC BIOMASS POWER MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2021

    FIGURE 14: ASIA-PACIFIC BIOMASS POWER MARKET, BY ANAEROBIC DIGESTION, 2022-2030 (IN $ BILLION)

    FIGURE 15: ASIA-PACIFIC BIOMASS POWER MARKET, BY COMBUSTION, 2022-2030 (IN $ BILLION)

    FIGURE 16: ASIA-PACIFIC BIOMASS POWER MARKET, BY GASIFICATION, 2022-2030 (IN $ BILLION)

    FIGURE 17: WORKING OF GASIFICATION OF BIOMASS

    FIGURE 18: ASIA-PACIFIC BIOMASS POWER MARKET, BY CO-FIRING & CHP, 2022-2030 (IN $ BILLION)

    FIGURE 19: ASIA-PACIFIC BIOMASS POWER MARKET, BY LFG, 2022-2030 (IN $ BILLION)

    FIGURE 20: ASIA-PACIFIC BIOMASS POWER MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

    FIGURE 21: ASIA-PACIFIC BIOMASS POWER MARKET, BY RESIDENTIAL, 2022-2030 (IN $ BILLION)

    FIGURE 22: ASIA-PACIFIC BIOMASS POWER MARKET, BY COMMERCIAL, 2022-2030 (IN $ BILLION)

    FIGURE 23: ASIA-PACIFIC BIOMASS POWER MARKET, BY INDUSTRIAL, 2022-2030 (IN $ BILLION)

    FIGURE 24: ASIA-PACIFIC BIOMASS POWER MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 25: CHINA BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 26: INDIA BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 27: JAPAN BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 28: SOUTH KOREA BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 29: THAILAND BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 30: AUSTRALIA BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 31: VIETNAM BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 32: REST OF ASIA-PACIFIC BIOMASS POWER MARKET, 2022-2030 (IN $ BILLION)       

    1. GEOGRAPHICAL ANALYSIS (IN TERMS OF REVENUE: $ BILLION & IN TERMS OF VOLUME: MILLION MWH)
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • INDIA
          • JAPAN
          • SOUTH KOREA
          • THAILAND
          • AUSTRALIA
          • VIETNAM
          • REST OF ASIA-PACIFIC
    1. MARKET BY FEEDSTOCK (IN TERMS OF REVENUE: $ BILLION & IN TERMS OF VOLUME: MILLION MWH)
      • SOLID BIOMASS
      • LIQUID BIOMASS
      • BIOGAS
      • MUNICIPAL SOLID WASTE
    2. MARKET BY TECHNOLOGY
      • ANAEROBIC DIGESTION
      • COMBUSTION
      • GASIFICATION
      • CO-FIRING & CHP
      • LFG
    3. MARKET BY END-USER
      • RESIDENTIAL
      • COMMERCIAL
      • INDUSTRIAL

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