Research Nester released a report titled “Small Scale Biomass Based CHP Plants Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global small-scale biomass-based CHP plants market in terms of market segmentation by application and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The small-scale biomass-based CHP plants market is projected to grow with a high CAGR during the forecast period, i.e., 2021-2029 on account of the number of installations of combined heat and power plants across the world.
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The market is segmented by application type into utilities, commercial & industrial, and residential. Among these segments, the commercial & industrial segment is anticipated to hold the largest share in the biomass-based CHP plants market due to the rising number of industrial & commercial units that use biomass in their power plants.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the small-scale biomass-based CHP plants market in the North America is projected to grow at the highest CAGR throughout the forecast period. This can be attributed to the majority of the demand coming from the United States and Canada.
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Increasing Energy Efficiency of Power Plants to Drive the Market Growth
Over the past few years, the biomass industry has grown significantly. Biomass combustion is a carbon-free process, as the resulting CO2 is previously captured by the plants being combusted. Biomass combined heat and power can be a beneficial technology for sites with a constant demand for heat and electricity, mainly when the site is off the mains gas grid and where biomass fuel is readily available. In cogeneration mode, the total efficiency may reach 85%-90%. Biomass integrated gasification in gas-turbine plants (BIG/GT) is not yet commercial, but integrated gasification combined cycles (IGCC), using black-liquor (a by-product from the pulp and paper industry), are already in use. Factors such as the positive outlook for natural gas supply and price increased energy efficiency and environmental regulatory pressures on power plants and industrial boilers, amongst others, are expected to drive the number of installations of combined heat and power plants across the world.
This report also provides the existing competitive scenario of some of the key players of the global small-scale biomass-based CHP plants market which includes company profiling of AGO GmbH Energie Anlagen, Siemens Energy AG (ETR: ENR), General Electric Company (NYSE: GE), Bosch Thermotechnik GmbH, Kawasaki Heavy Industries Ltd. (TYO: 7012), FuelCell Energy, Inc. (NASDAQ: FCEL), Veolia Environnement S.A. (EPA: VIE), Wärtsilä Oyj Abp (HEL: WRT1V), and MAN Energy Solutions SE. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global small-scale biomass-based CHP plants market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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