Biomass combustion is a carbon-free process since the resulting carbon dioxide is firstly captured by the plants being combusted. Biomass combined heat & power can be a valuable technology for sites with a constant demand for heat and electricity.
The market is anticipated to gather a large revenue by attaining a high CAGR over the forecast period, i.e., 2021-2029. Factors such as the definite outlook for natural gas supply and price, environmental regulatory pressures on power plants, and increased energy efficiency are expected to globally drive the growth of small-scale biomass based combined heat & power plants (CHP) plants market. Over the years, many efforts have been made to remove technical and regulatory barriers and promote wider adoption of combined heat and power. Factors such as grid interconnection and significant initial capital investment remain a considerable challenge for the small-scale biomass based combined heat & power plants (CHP) plants market.
Based on application type, the commercial & industrial segment in the small-scale biomass-based CHP plants market is projected to grow with a significant CAGR over the forecast period. The segment's growth can be attributed to the rising number of industrial & commercial units that use biomass in their power plants.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in North America is predicted to grow at the highest CAGR over the forecast period due to the majority of the demand coming from the United States and Canada.CLICK TO DOWNLOAD SAMPLE
The global small-scale biomass-based CHP plants market is further classified on the basis of region as follows:
Our in-depth analysis of the global small-scale biomass-based CHP plants market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Environmental regulatory pressures on power plants and increasing demand for energy efficiency in industries are the key factors driving market growth.
The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
High installation and maintenance cost are estimated to hamper market growth.
The market in North America region will provide ample growth opportunities owing to the majority of the demand coming from the United States and Canada.
The major players dominating the small-scale biomass-based CHP plants market are Siemens Energy AG, General Electric Company, Bosch Thermotechnik GmbH, Kawasaki Heavy Industries Ltd., Veolia Environnement S.A. among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application type and region.
With respect to application, the commercial & industrial segment is anticipated to hold the largest market share owing to the rising number of industrial & commercial units that uses biomass in their power plants
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