global biomass steam turbine market size was valued at USD 1,392 million in 2024. The market is projected to grow from USD 1,461 million in 2025 to USD 2,064 million by 2032, exhibiting a CAGR of 5.1% during the forecast period.
Drivers - Global Push Toward Renewable Energy
Adoption Accelerates Biomass Steam Turbine Demand
Restraints - High Capital Costs and Long Payback Periods Limit Market Penetration
Opportunities -Emerging Bioenergy with Carbon Capture (BECCS) Applications Create New Potential
The North American biomass steam turbine market is driven by strong government incentives for renewable energy and strict carbon reduction policies.
Europe remains at the forefront of biomass energy adoption, with the EU’s renewable energy directive targeting 32% renewable energy share by 2030.
• Non-Condensing Steam Turbine
• Primarily used in combined heat and power (CHP) applications
• Condensing Steam Turbine
• Dominates utility-scale biomass power generation
• Power Generatio
• Combined Heat & Power (CHP
• Industrial Process Steam
• General Electric (U.S.)
• Siemens Energy (Germany)
• Dongfang Turbine (China)
• Shanghai Electric (China)
• Hangzhou Steam Turbine (HTC) (China)
• Harbin Electric Corporation (China)
• Mitsubishi Power (Japan)
• MAN Energy Solutions (Germany)
• Fuji Electric (Japan)
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