In India Precedence Research reported that the biomass power market revenue surpassed $149.68 billion in 2025 and is predicted to reach around $237.49 billion by 2033 with a CAGR of 5.95% during the forecast period.
The increasing focus on renewable energy, government incentives, and the need for sustainable alternatives to fossil fuels are major factors driving market growth, according to the research firm.
“Different regions of Europe, North America, and Asia Pacific have established subsidies and tax benefits with renewable energy requirements to boost biomass acceptance. European Union member states need to boost their renewable energy consumption through biomass implementation based on targets set in the Renewable Energy Directive (RED). Moreover, the initiatives demonstrate worldwide support for developing environmentally sustainable energy technologies with fiscal backing and governmental policy frameworks,” the report said.
Governments in Europe, North America, and Asia-Pacific support the adoption of biomass through political incentives. In 2024, through its Section 45 legislation, the United States offers businesses a per kWh federal tax credit to generate electricity from qualifying renewable sources, including biomass. Additionally, the multiple global organizations demonstrate their dedication to sustainable energy solutions, thus further facilitating the biomass power market in the coming years.
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