Biomass Boiler Market Set For Growth

The global biomass boiler market is set to grow considerably in the coming years, displaying a compound annual growth rate of 17.9 per cent.

This is according to Research Nester, which is estimating that by 2024, the worldwide biomass boiler market will be worth $10.8 billion. There are a number of factors that will boost its take up, the organisation suggested.

Chief among them are growing environmental concerns from people around the globe, who are looking for more environmentally friendly ways of heating their homes and businesses.

In fact, biomass heating is expected to be one of the biggest growth areas, as households and businesses alike realise the benefits of this option when it comes to heating a property. They include the low carbon emissions it generates, as well as its affordability.

Research Nester singled out the UK as one market where growth is expected to continue thanks to government initiatives to incentivise the use of biomass heating.

Another factor that will help encourage take up of biomass boilers is the ease with which you can source fuel for them.

Earlier this month, an expert panel hosted at Westminster explored the best ways to make use of renewable energy in the UK. Dr Adam Read, external affairs director at Suez, said that biofuels have great potential.

He pointed to the fact that residual waste in the UK can be used to generate heat and power, as well as be converted into biodiesel. However, he cautioned that there isn’t currently enough joined up thinking in the UK when it comes to making best use of this resource.