The global biomass boiler market is highly fragmented. In 2014, the top six players collectively accounted for 40.2% of the market, states a new report by Transparency Market Research (TMR). These players are Baxi Group Limited, ETA Heiztechnik GmbH, Lin-Ka Maskinfabrik A/S, Polytechnik Group, Babcock & Wilcox Enterprises, Inc., and Thermax Ltd. Many mergers and acquisitions are taking place in the biomass boiler market. A case in point would be, acquisition of Alstom SA by GE Company. The degree of competition is high and shall continue to be high owing to a lack of regulations, which is enabling inexperienced manufacturers to go unchallenged. Rivalry between players is high as both established as well as emergent players are fighting to acquire key portion of the market share. Players in the market are competing by means of product differentiation. Efficiency, quality, standard, and specifications are a few parameters for product differentiation.
According to the report, the global market opportunity in biomass boiler is expected to rise from US$2,426.5 mn in 2015 to US$8,907.0 mn by 2022. The market is expected to expand at an impressive 19.9% CAGR between 2014 and 2022. On the basis of feedstock type, the stoker segment led in the past and will continue to do so through 2022. By end user, the commercial segment led in 2014 and will also lead by 2022. The segment accounted for 40.7% of the market in 2014. On the basis of application, the heating segment accounted for 80.1% of the market in 2014 and will also lead in the coming years. By geography, Europe accounted for a massive 67% of the market in 2014 and is expected to continue to lead in the market by 2022.
Government Funding to Drive Biomass Boiler Market’s Growth
The use of biomass in boilers as energy source has many economic and environmental benefits. The installment of biomass boilers plays an important role in the achieving climate policy objectives, which is driving their adoption. The various regulatory frameworks and government support such as grants and funding programs will help the market to grow. Many countries such as Germany, the U.S., and the U.K. are offering a range of grants and incentives for the development and use of biomass boilers. In addition to this, countries such as India, Scotland, Japan, and Australia are proposing legislations that will boost investments in the market. Moreover, in order to encourage investors to enter the market, these countries are planning to provide feed-in-tariffs (FIT).
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High Cost of Transportation and Storage to Pose Challenge
The high cost of fuel transportation and fuel storage are expected to hamper the growth of the global biomass boiler market. Biomass boilers that burn fuels such as wood chips or other biomass waste, may experience water wall corrosion owing to the presence of aggressive fuel components at low temperatures. The delivery of biomass fuel into the store requires a stable access to pipeline and vehicular access. “Problems relating to the control of hazardous substances and slips and falls can be risky when handling biomass fuels,” says a TMR analyst. Thus, it is essential to for the design and manufacture of biomass boilers to comply with pressure related regulations. However, government programs such as Renewable Heat Incentive (RHI), which offer financial support to non-domestic generators of renewable heat in several countries such as Scotland, Wales, and England are expected to aid the growth of the market.
The global biomass boiler market is segmented as follows:
Global Biomass Boiler Market: Feedstock Type Analysis
- Woody Biomass
- Agriculture & Forest Residues
- Biogas & Energy Crops
- Urban Residues
- Others
Global Biomass Boiler Market: Product Type Analysis
- Stoker Boilers
- Bubbling Fluidized Bed (BFB) Boilers
- Circulating Fluidized Bed (CFB) Boilers
Global Biomass Boiler Market: End-user Analysis
- Residential
- Commercial
- Industrial
Global Biomass Boiler Market: Application Analysis
- Heating
- Power Generation
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