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Global biomass boiler market worth US$68.2 billion 2015

According to a new Transparency Market Research (TMR) report the global biomass boiler market was worth US$68.2 billion in 2015 and is predicted to over double by 2025, to reach US$193.1 billion by rising at an 11.1 percent CAGR between 2016 and 2025.

Entitled “Biomass Boiler Market – Global & U.K. Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2022”, the report suggests that increasing support from governments and the favourable regulatory framework in a number of nations will help raise investments in the market for biomass boilers. In addition, the implementation of boiler standards is also expected to fuel the growth of the market. Furthermore, the rising count of tax incentives, feed-in tariffs (FITs) and renewable heat incentives are expected to impact the market positively.

Challenges identified by the report involve the handling, storage, and supply of biomass boilers to the market. Europe led the biomass boiler market in 2013. On the basis of feedstock type, the report segments into woody biomass, agriculture and forest residues, biogas and energy crops, urban residues, and others. Of these, wood biomass leads the market on the basis of feedstock utilization in biomass boilers. Agriculture and forest residues are presently the second-most popular biomass feedstock globally.

When it comes to boiler type biomass stoker boilers held the largest share in the market in 2013 on the basis of revenue, ahead of bubbling fluidized bed (BFB) boilers, and circulating fluidized bed (CFB) boilers. It is expected to maintain its superiority all through the forecast horizon. By end use, the market is segmented into the residential, commercial, and industrial sectors. Of these, the commercial end-use segment led the market in 2013 and is predicted to maintain its dominance throughout the forecast period. This segment was trailed by the industrial and residential end-use segments in the same year. The key application areas for biomass boilers include their usage in power generation and heating. Amongst these, heating is presently the largest application segment of biomass boilers.

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