BIOMASS POWER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

To learn more about this report, Request sample copy

North America has established itself as the dominant region in the global biomass power market and is estimated to account for 33.3% share in 2024. With strong industry presence and supportive government policies, the U.S. accounts for the largest share of the market in the region. Biomass power production is well developed across many states, especially in the northern states with an abundance of wood resources. Several major industry players have set up production facilities catering to both domestic and international demand. The region also has a highly developed supply chain infrastructure for sourcing biomass feedstock and transportation to conversion facilities. Stringent emission norms have further boosted demand for biomass power as a replacement for retiring coal-based capacities.

On the other hand, Asia Pacific has emerged as the fastest growing regional market for biomass power. Countries like China and India offer immense untapped potential due to their large populations and growing energy needs. Both nations are heavily focusing on developing renewable sources to meet electricity demand from industrialization and urbanization. Biomass is seen as a key part of their energy transition strategy, helping to diversify away from fossil fuels. In China, biomass power capacity addition is supported through various subsidy schemes, preferential tariffs and tax incentives provided to clean energy projects. Meanwhile, India has launched an ambitious program to add new biomass power capacities by promoting private sector participation through suitable policy framework.