Biomass Power Generation Market Dynamics, Key Players and Forecast, 2023-2028

The global biomass power generation market is projected to reach USD 105.7 billion by 2028 from an estimated USD 91.3 billion in 2023, at a CAGR of 3.0% during the forecast period. The growth of the biomass power generation market is driven by the focus of governments worldwide on net zero carbon emissions and their related initiatives such as policies, subsidies etc.

Key Market Players

The major players in the market ENGIE (France), Babcock & Wilcox Enterprises, inc. (US), Xcel Energy Inc. (US), EPH (Czechia) and Ørsted A/S (Denmark).

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Biomass power generation solutions will play a crucial role in reducing carbon footprints. To achieve these, governments are undertaking several initiatives to meet the future demands of energy by promoting the use of renewable sources to produce energy. The abundant availability of feedstock, low labor costs, need for electricity in rural areas and low cost of feedstock are some of the important driving factor of biomass power generation market.

This research report categorizes the biomass power generation market by feedstock, technology, fuel and region.

On the basis of feedstock:

• Agriculture Waste
• Forest Waste
• Animal Waste
• Municipal Waste

On the basis of technology:

• Combustion
• Gasification
• Anaerobic Digestion
• Pyrolysis

On the basis of fuel:

• Solid Fuel
• Liquid Fuel
• Gaseous Fuel

On the basis of region:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

This report segments the biomass power generation market based on feedstock into four types: Agriculture Waste, Forest Waste, Animal Waste, and Municipal Waste. Forest Waste are expected to be the fastest market during the forecast period. Forest Waste mainly consists of the woody biomass. The woody biomass has been used traditionally for cooking and heating applications. According to the estimates, more than 55% of biomass comes from forest waste, to which the pulp & paper industry is the largest contributor.

This report segments the biomass power generation market based on technology into four categories: combustion, gasification, anaerobic digestion and pyrolysis. The gasification segment is expected to be the second-largest segment during the forecast period. Gasification is an emerging technology used for the power generation. A large number of projects are upcoming for gasification to produce electricity. For instance, Bio&Watt has one commercial biomass gasification plant for cogeneration on a small scale. The plant utilizes agro-industrial residues in the gasification process.

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Asia Pacific is expected to be the largest region in the biomass power generation market

Asia Pacific is expected to be the largest biomass power generation market during the forecast period. In Asia Pacific several countries planned pilot projects and carrying out full-scale development of commercial-scale biomass power plants to amplify bioenergy deployments in the region. This has increased investments toward new projects, research studies, and new installations of biopower plants in the Asia Pacific, especially in China and India. These factors are expected to fuel the growth of the biomass power generation market in the region.

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Founded in 2009, MarketsandMarkets recognized uncharted business potentials within disruptive trends, forecasting a surge of $25 trillion in new B2B revenues by 2030. In our 13-year journey, we've collaborated with over 10,000 companies, generating $140+ billion in revenue impact. From a market research publisher, we've transformed into a growth-enabling leader, backed by a 1500+ strong team.

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Offsite Data Center Power Infrastructure Market worth $35.4 billion by 2030

 According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of USD 13.4 billion in 2024, at a Compounded Annual Growth Rate (CAGR) of 17.6% over the forecast period. There are several key factors that underline the importance of offsite data center power infrastructure market. There is a growing demand for efficient and sustainable data management solutions. The most important driver is the exponential increase in the data generation and consumption across various sectors. These sectors include BFSI, healthcare, and IT & Telecommunications. The need for robust and scalable data centers increases with the increase in the digital footprints of the organizations. This has propelled the demand for advanced power infrastructure solutions which ensure operational excellence.

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Growing emphasis on energy efficiency and sustainability is another significant driver of this market. There is an increasing strategic focus on reducing energy consumption and carbon footprints with the increase in the power consumption of data centers. Regulatory bodies and governments are implementing energy efficiency standards and promoting use of renewable energy sources. Therefore, data center operators are investing heavily in energy-efficient power infrastructure solutions, such as UPS, modular power solutions. This is done to fulfill regulatory requirements and achieve sustainability goals.

The rise of edge computing and integration of IoT devices are also significant drivers of this market. There is an increasing need for decentralized data processing with the increase in device interconnectivity. Edge data centers are becoming crucial as they are located closed to end-users. These edge facilities need specialized power infrastructure to increase reliability and performance. Therefore, the demand for scalable and modular power solutions catering to edge computing are gaining momentum in the offsite data center power infrastructure market.

Finally, the rising adoption of cloud services and hybrid IT environments is driving the market growth. The intense workloads are migrated to cloud services. This is done achieve scalability, flexibility, and cost-efficiency. This shift increases the importance of offsite data center power infrastructure that can seamlessly integrate cloud services with edge data centers. The need for this seamless integration is driving investments in the offsite data center power infrastructure market.

Retail segment, by Vertical, to hold the fourth largest market share in offsite data center power infrastructure market.

The retail sector is the fourth most prominent market for power services in global off-site data services because digital reinvention in the retail industry has grabbed the sector into building robust, mobile and cloud infrastructure to accommodate the steep rise in online shopping and e-commerce platforms, and to embed or encompass AI and ML algorithms and big data analytics and the use of these technologies in personalization of recommendations, supply chain and optimization. But, that's not the only reason. Personalization of marketing and customer retention strategy for customer experience improvement, big data analytics, are also the critical reasons why the hyper scale data centers and retail industry is taking a more serious and intense approach to serious and efficient power systems in off-site data centers.

Middle East & Africa to emerge as the fourth-largest offsite data center power infrastructure market.

The market share of Middle East & Africa in the global offsite data center power infrastructure market stands at fourth place - on a global scale - primarily due to the swift digital transformation and increasing investment in IT infrastructure of the region. Leading countries such as UAE and Saudi Arabia have been aggressive in implementing smart city initiatives and expanding their technology footprints warranting solid data center infrastructure. Rising internet penetration and subsequent increase in e-commerce, financial services and media sector has driven the demand for reliable and scalable power infrastructure.

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Key Players

Key players in the offsite data center power infrastructure market include ABB (Switzerland), Schneider Electric (France), Eaton (Ireland), Vertiv (US), Huawei Digital Power Technologies Co., Ltd. (China), Comfort Systems USA (UK), Johnson Controls (US), Yondr (Netherlands), Hubbell (US), Modubuild (Ireland), Altron A.S. (Czech Republic), InnovIT AG (Germany), Delta Electronics, Inc. (Norway), and Rittal (Germany).

Carbon Footprint Management Market to Witness Comprehensive Growth by 2028

The global carbon footprint management market is projected to reach USD 30.8 Billion by 2028 from an estimated USD 11.3 Billion in 2023, at a CAGR of 22.2% during the forecast period. An environmental indicator, carbon footprint represents the total amount of greenhouse gas emissions caused by an individual, event, organization, service, place, or product. The global market for carbon footprint management is expanding as a result of rising demand for energy by industries, and increasing initiatives to reduce carbon emissions from the governments. Moreover, the stricter implementation of COP27 targets to limit global warming around the world i also boosting the demand for carbon footprint management software.

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The carbon footprint management market, by deployment mode, is segmented into on-premise and cloud. The market for carbon footprint management of deployment mode cloud is expected to be the largest during the forecast period. Implementing cloud technology has advantages such as lower operating expenses, security and better project management costs.

The carbon footprint management market, by component, is divided into solutions and services. The services segment of the carbon footprint management market is projected to register the highest growth rate during the forecast period. Services like consulting, integration and deployment, as well as support and maintenance are crucial segments in carbon footprint management. Technical expertise is often lacked by many firms and companies in the carbon footprint management and hence there is an increasing need for professional service providers.

By organization size, the carbon footprint management market is corporates/enterprises, mid-tier enterprises, and small businesses. The corporates/enterprises segment is expected to be the largest owing to the large sizes of company facilities and an increased pressure from stakeholders for emissions disclosure. Governments of various countries and environment protection bodies closely monitor carbon emissions of these enterprises and their compliance with norms, making it necessary for them to use tools like carbon footprint management software for accounting, disclosure, and mitigation of carbon emissions.

The carbon footprint management market, by vertical, is segmented into manufacturing, energy & utilities, residential & commercial buildings, transportation & logistics, IT & telecom, financial services, and government. The financial services segment is expected to be the fastest growing segment during the forecast period. The GHG emissions associated with financial institutions' investing, lending, and underwriting activities, i.e., their scope 3 emissions, are on average over 700 times higher than their direct emissions. Given the growing momentum of financial institutions announcing net zero targets, the sector is expected take further action to align portfolios with a net zero carbon economy.

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North America is estimated to be the largest regional market for carbon footprint management during the forecast period.  North America includes US, Canada, and Mexico. Increasing pressure to achieve NDC target, federal/national laws on ESG disclosure, and emphasis on sector-specific measures for carbon reduction is expected to aid the fast growth of the carbon footprint management market in this region.

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About MarketsandMarkets™

MarketsandMarkets™ has been recently recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

Founded in 2009, MarketsandMarkets recognized uncharted business potentials within disruptive trends, forecasting a surge of $25 trillion in new B2B revenues by 2030. In our 13-year journey, we've collaborated with over 10,000 companies, generating $140+ billion in revenue impact. From a market research publisher, we've transformed into a growth-enabling leader, backed by a 1500+ strong team.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road, Suite 430
Northbrook, Illinois - 60062
USA : 1-888-600-6441
UK +44-800-368-9399