GOVERNMENT SUPPORT AND ENCOURAGING REGULATIONS TO BE KEY GROWTH DRIVERS FOR GLOBAL BIOMASS BOILER MARKET

1. Government Support and Encouraging Regulations to Be Key Growth Drivers for Global Biomass Boiler Market In the highly fragmented competitive landscape of the global biomass boilers market, none of the leading companies accounted for a share of over 10% in the overall market in 2014, observes Transparency Market Research in a recent report. The top six companies in the market, including Baxi Group Limited, ETA Heiztechnik GmbH, Polytechnik Group, and Babcock & Wilcox Enterprises, Inc., collectively accounted for a relatively moderate 40% share in the global market in the said year. The remaining 59% share was held by a fragmented chain of suppliers across the globe. “The market features a high degree of competition. One of the key factors responsible for the situation is the lack of standardized regulations governing the biomass boiler markets across the globe. This has paved the way for inexperienced vendors to go unchallenged in the global market,” states a TMR analyst. Nevertheless, the market has promising growth prospects and is expected to exhibit a remarkable 18% CAGR over the period between 2016 and 2024. Europe to Remain Most Promising Regional Market The global biomass boilers market, which valued US$2,426.5 mn in 2015, is expected to rise to US$10,752.4 mn by 2024. Europe is presently the dominant regional market for

2. biomass boilers, accounting for a share of over 67% in the overall revenues of the global market in 2015. The regional market is expected to expand at a nearly 18% CAGR from 2016 to 2024 and retain its dominant position in the global market over the next few years as well. In terms of the key varieties of feedstock used to fuel biomass boilers, the segment of woody biomass leads, holding a share of nearly 77% of the overall market in 2015. Encouraging Regulatory Framework to Bolster Adoption of Biomass Boilers Globally Over the years of their use across the industrial and domestic sectors, it has been found that biomass boilers can provide an array of economic and environmental benefits. The renewable and low carbon nature of biomass has compelled the increased installation of biomass boilers across developed as well as developing countries across the globe. Several government policies that aim at increasing the share of renewables in their individual energy mixes, as a step ahead in achieving the carbon emission regulation targets, are playing a key role in fortifying this trend. Encouraging regulatory frameworks and government grants and incentive programs that provide investment subsidies and tax benefits to industries using renewables are also playing a key role in encouraging biomass heating companies and utilities to switch to biomass on an increased level. Furthermore, the propositions of granting feed-in tariffs (FIT) and tax incentives across countries such as India, Scotland, Japan, and Australia are also expected to encourage an increased number of investors to enter into the biomass boilers market in the next few years. To obtain all-inclusive information on forecast analysis of Biomass BoilerMarket, request a PDF brochure here. Challenges Associated with Handling, Storing, and Supplying Biomass to Hamper Market Growth The key challenges for the growth of the global biomass boilers market are the several issues associated with the supply, handling, transport, and storage of biomass. Additionally, decrease in the overall efficiency of biomass with time, emission of pollutants, ash deposition, and impacts of carbon burnout are some of the key technical issues related to biomass boilers. The high moisture content of certain biomass feedstock also poses many challenges related to their transport and storage on a larger level. The high costs incurred in transportation and storage of biomass with high moisture content can outweigh the value of biomass to a significant level as biomass fuels have low-energy densities compared to fossil fuels.

3. These factors are expected to refrain the large-scale adoption of biomass for energy and heat production to the certain level in the next few years. Nevertheless, programmes such as the Renewable Heat Incentive (RHI), which provides financial support to non-domestic generators of renewable heat across several European countries, are expected to provide long-term support for the biomass boilers market in the future. Global Generator Rental Market: Key Developments In June 2018, Aggreko Plc, a Glasgow-based (U.K.) global provider of portable power generation and climate control solutions, announced to have acquired Generator Hire Service, an Australia-based generator rental company, for US$ 3.6 Mn (GBP 2.7 Mn). In January 2018, Aggreko planned to expand its China operations, announcing a joint venture with Shanghai Yude, a power rental company. Aggreko would be holding 21.5% stake in the new company. The new company’s operations would be managed by Shanghai Yude in line with Aggreko’s class-leading standards and procedures.   Competition Landscape of Global Generator Rental Market The global generator rental market is highly fragmented, with the presence of a large number of players. Rise in technological advancements, strong brand recognition, strong position of established players, and strict government regulations pose a barrier to the entry of new players in the global generator rental market. Key players operating in the global generator rental market are Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Himoinsa S.L., AKSA Power Generation, KOEL Green, Atlas Copco AB, Aggreko PLC, Kohler Co., United Rentals, Inc., APR Energy, AGCO Corporation, Herc Rentals Inc., Ashtead Group plc, Wartsila, and Cooper Equipment Rentals.    REQUEST FOR COVID19 IMPACT ANALYSIS – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19& rep_id=14657 About Us Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

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