The biomass power generation market is anticipated to expand notably, reaching a valuation of $89.18 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 6.8%. Key factors driving this expansion include the rise of biomass gasification projects, a stronger emphasis on carbon-neutral electricity production, greater use of smart monitoring systems in biomass plants, increased investments in waste-to-energy technologies, and growing demand for industrial combined heat and power (CHP) biomass solutions.
Additionally, important trends expected to influence the market are the rising adoption of renewable biomass feedstocks, broader deployment of biomass CHP systems, advancements in biomass combustion technologies, increased utilization of agricultural and urban waste for power production, and more funding directed toward decentralized biomass power facilities.
The biomass power generation market features several prominent companies that have established strong positions globally. These include E.ON SE, ENGIE SA, Siemens AG, General Electric Company, Veolia Environnement SA, Mitsubishi Heavy Industries Ltd., ALSTOM Holdings, Dalkia by EDF Group, Drax Group PLC, Rockwell Automation Inc., MVV Energie AG, John Wood Group, Valmet Corporation, Alfa Laval, Aker Solutions, MEIDENSHA CORPORATION, Ameresco Inc., Ramboll Group A/S, Babcock & Wilcox Enterprises Inc., EnviTec Biogas AG, Vattenfall AB, WELTEC BIOPOWER GmbH, KASAG Swiss AG, Beltran Technologies Inc., and Volue.
A notable transaction in this space occurred in January 2023, when US-based investment firm Pacolet Milliken, LLC acquired Piedmont Green Power, a biomass power solutions provider, for an undisclosed sum. This acquisition reflects Pacolet Milliken's ongoing commitment to growing its renewable energy portfolio and furthering sustainability objectives.
Many leading companies within the biomass power segment are leveraging strategic partnerships to enhance their market positions and drive innovation. Such collaborations often help accelerate project development and improve technology integration in biomass power generation.
For example, in April 2023, Marubeni Corporation teamed up with Japan-based real estate developer Taisei Corporation to construct the Ishikari Area Biomass Power Plant in Hokkaido. This facility is designed to generate 9,950 kW of power, marking a significant milestone in regional biomass capacity.
Additionally, in December 2023, US company Air Burners, known for its biomass waste burner systems, forged a partnership with UK automotive giant Rolls-Royce and Swedish car manufacturer Volvo. Together, they developed the BioCharger, a portable device that converts biomass waste into energy, providing off-grid power solutions for various applications.
