The biomass boilers market in Europe will exhibit a robust 20 per cent CAGR during 2016-2024, market research companies have revealed through their research reports.
Europe holds the dominant share in the biomass boilers market and it will continue to retain this leading position according to market research reports. If we look at individual countries, Germany, France, and the U.K., and Scandinavian countries such as Sweden and Norway, have played pioneering roles in supporting and boosting nationwide use of environment-friendly fuels.
Countries in the Asia Pacific region also exhibit a strong potential for biomass boilers market. Countries in this region are known to utilize traditional biomass combustion techniques and this is one of the reasons behind increase in demand. Further, governments of India, South Korea, China, Japan, and Indonesia are promoting biomass based energy production and this is helping the demand for biomass boilers market shoot up.
According to biomass boilers market reports from multiple research companies, rising energy needs in Asia Pacific region could play an important role in the growth of the biomass boilers market in the region in the coming years.
Use of Residue-generated Biomass to Rise due to Dual Benefit
From the perspective of product type, the global biomass boilers market is segmented into woody biomass, biogas and energy crops, agriculture and forest residue, and urban residue. If we look at each of these segments, the woody biomass holds the leading share in the biomass boilers market at present. The main reason is that this form of biomass is conveniently available and has been traditionally used for fuel in several parts of the world, which has made it convenient to set up and fully utilize the trading networks.
That said, urban, agricultural, and forest residue have been picking up lately and garnering increased attention. These have been becoming a key fuel for use in boilers and could well become the leading segment of the global biomass boilers market over the next seven years. The key drivers behind use of residue in biomass boilers are: ability to dispose off organic residue; and more cost- and fuel-efficient performance from boilers. It also reduces the risk of deforestation, as woody biomass is not required.