Industrial Biomass Boilers Market: Size, Share, and the Green Industrial Revolution
The global industrial biomass boilers market is set to embark on a path of robust growth, driven by progressive government policies aimed at reducing carbon emissions and promoting the use of renewable fuels. As part of a broader green industrial revolution, governments worldwide are championing the adoption of industrial biomass boilers to curb greenhouse gas emissions.
Government Initiatives Pave the Way
In the United Kingdom, the government has set ambitious goals to reduce greenhouse emissions by 2050 and has introduced strategic plans, such as “The Ten Point Plan for Green Industrial Revolution” and “Energy White Paper: Powering the net zero future,” to support the adoption of renewable energy sources, including industrial biomass boilers. Stringent fuel quality standards have also been established to enhance the efficiency and longevity of these boilers. Simultaneously, the International Renewable Energy Agency (IRENA) has set targets under its REamp 2030 (Global Renewable Energy Roadmap) to double the share of renewable energy sources in the global energy industry by 2030. These initiatives are poised to stimulate the demand for industrial biomass boilers, fostering market growth.
Sustainability Spurs Demand
The global business landscape is focused on reducing carbon emissions by 2% annually, necessitating a shift towards renewable energy sources. Industrial biomass boilers are emerging as a sustainable alternative to fossil fuels, offering an ideal solution for process heating across a diverse range of commercial and industrial applications. Managed correctly, these boilers can substantially reduce carbon emissions in comparison to traditional fossil fuels, producing minimal atmospheric pollutants such as sulphur dioxide. The sustainability quotient of industrial biomass boilers is expected to drive demand across various industries.
Chemical Industry Catalyst
The rapid growth of the chemical industry is poised to fuel the expansion of the industrial biomass boilers market. According to BASF, global chemical production is projected to rise by 4.4% in 2021, with emerging markets leading the way. Developed economies are also expected to experience a 2.5% growth rate by the end of the year. The chemical sector’s expansion is closely linked to the adoption of sustainable fuel alternatives due to increasing awareness of CO2 emissions. This trend presents significant growth opportunities for industrial biomass boiler manufacturers.
Challenges and Solutions
Despite their environmental benefits, industrial biomass boilers face challenges, primarily in the development of precise control systems tailored to specific plants. Effective management of the entire boiler system, including fuel input in the combustion chamber, is crucial to ensure emission compliance and safety. Additionally, industrial biomass boilers require more floor space compared to traditional systems due to the need for additional fuel handling systems, emphasizing the importance of effective control plans.
Asia Pacific’s Lucrative Potential
Emerging economies in the Asia Pacific region, particularly India and China, offer lucrative growth prospects for the industrial biomass boilers market. These countries are known for their low labor costs, abundant land availability, and dense populations, which translate into high-volume sales opportunities if managed effectively. The growth of sectors like pharmaceuticals, chemicals, and food and beverages in these nations can be leveraged by industrial biomass boiler manufacturers to expand their geographical footprint.
About the Market Leaders
Key players in the industrial biomass boilers market include Andritz AG, Byworth Boilers Limited, Sofinter Group, Bharat Heavy Electricals Limited, GE Power, and Thermax Limited.
Global Industry Analysis (2018 – 2021) – Growth Trends and Market Forecast (2022 – 2029) https://www.fairfieldmarketresearch.com/report/industrial-biomass-boiler-market
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