India Biomass Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 11 gigawatt |
| Market Volume (2029) | 14.22 gigawatt |
| CAGR (2024 - 2029) | 5.27 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Biomass Market Analysis
The India Biomass Market size in terms of installed base is expected to grow from 11 gigawatt in 2024 to 14.22 gigawatt by 2029, at a CAGR of 5.27% during the forecast period (2024-2029).
- Over the medium term, factors such as abundant availability of feedstocks, government-led initiatives to boost biomass production, and the introduction of stringent policies to increase the utilization of renewable resources to minimize GHG emissions will be major drivers in the market.
- On the other hand, the availability of viable alternatives is expected to restrain the growth of the Indian biomass market during the forecast period.
- However, the co-firing mechanism, the migration out of coal-fired power plants, and the untapped biomass potential in India are expected to become vital opportunities for the growth of the market.
India Biomass Market Trends
The Power Generation Segment is Expected to Dominate the Market
- Biomass power generation is a technique to generate power with biomass fuel, including forestry and agriculture waste, garbage, landfill gas, and biogas. The complete process involves converting the chemical energy of fuel into the thermal potential energy of steam, mechanical power, and electric power.
- Biomass includes plant and animal material, such as wood from forests, material left over from agricultural and forestry processes, and organic industrial, human, and animal wastes. The power generated from biomass is renewable, with negligible carbon dioxide emission and low cost compared to fossil fuels.
- Biomass power generation is considered renewable but can contribute to deforestation and is not entirely clean. Power production requires a significant amount of space and water. Studies estimate that the electricity generation potential from the approximately 150 million tons of biomass residues produced annually is about 50 GW, equivalent to roughly 470 GJ/per year.
- The bioenergy capacity of India was nearly 10.75 GW in 2023. Also, India has embarked upon an ambitious energy transition journey with a target of 50% cumulative electric power installed electricity capacity from non-fossil fuel-based energy resources by 2030 and achieving net zero by 2070. To achieve the ambitious targets for renewable energy and self-reliance in the domestic energy industry, optimal use of available renewable energy alternatives is a must.
- Moreover, in June 2023, the Ministry of Power announced the revision of the biomass co-firing policy to promote sustainable energy practices. This revision will enable power plants to purchase biomass pellets at benchmark prices, reducing import dependencies and enhancing the adoption of biomass as a renewable energy source.
- Owing to the above points, the power generation segment is expected to dominate the Indian biomass market during the forecast period.
Favorable Government Support to Drive the Growth of the Market
- India emerges as a global leader in renewable energy with a rapidly growing industry, abundant potential, and strong government support. A large and growing population and a target of achieving 450 GW of renewable energy capacity by 2030 (including 10 GW of bioenergy) offer ample opportunities for investments and expansion in India.
- With the help of the government's financial aid, companies in the Indian biomass market, such as Emami Agrotech Ltd, Universal Biofuel, and Aemetis, are increasing their investments. Also, surplus biomass availability, especially from the agricultural industry, drives the growth of the market.
- Moreover, the biogas energy capacity in India was approximately 14 MW in 2023. Though capacity has been stagnant for the last six years, it is expected to increase in the coming years.
- In February 2024, the Government of India approved the scheme for providing financial assistance to compressed biogas (CBG) producers for procurement of biomass aggregation machinery to support the collection of biomass with a total financial outlay of INR 564.75 crore (~USD 67.7 million) for the period from FY 2023-2024 to FY 2026-2027.
- The Ministry of New and Renewable Energy (MNRE) has been running a program to promote Biomass Power and Bagasse Cogeneration in the country since the 1990s. The Biomass-based Cogeneration Program, launched in May 2018, aims to promote cogeneration for the optimal use of the country’s biomass resources through cogeneration technology in sugar mills and other industries such as rice and paper mills.
- According to the International Energy Agency, clean energy investments in India reached USD 68 billion in 2023. At the beginning of 2024, the Ministry of New and Renewable Energy (MNRE) notified the National Bioenergy Programme may continue for five years from April 2021 to March 2026 with an outlay of INR 858 crore (~USD 102.9 million) under Phase-I to boost bio-energy in India.
- Owing to the above points, favorable government support in the country will drive the growth of the Indian biomass market.
India Biomass Industry Overview
The Indian biomass market is semi-fragmented. Some of the major players operating in the market (in no particular order) include Emami Agrotech Ltd, Universal Biofuels Private Limited, BIOD ENERGY (INDIA) PVT LTD, EnviTec Biogas AG, and Aemetis Inc.
India Biomass Market Leaders
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Emami Agrotech Ltd
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Universal Biofuels Private Limited
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BIOD ENERGY (INDIA) PVT LTD
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EnviTec Biogas AG
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Aemetis Inc
*Disclaimer: Major Players sorted in no particular order
India Biomass Market News
- November 2023: The Ministry of Power in India announced a benchmark price of INR 2.27/1,000 kcal (USD 0.027/1,000 kcal) for non-torrefied biomass pellets, which is applicable to northern India, excluding the national capital region. The pellets should have a moisture content below 14 pc and a gross calorific value between 2,800 and 4,000 kcal/kg. The price excludes tax and transportation costs for goods and services.
- February 2023: Aranayak Fuel and Power, an Indian-based biomass company, broke the ground on its INR 50-crore (~USD 6 million), one tonne-per-day, biomass-based green hydrogen plant in the Mirzapur district of Uttar Pradesh. The company signed an MoU with the state government during the ‘global investors’ meet’ in Uttar Pradesh.
India Biomass Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Installed Capacity and Forecast, in GW, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Favorable Government Support to Drive the Market
4.5.1.2 Abundant Availability of Feedstocks
4.5.2 Restraints
4.5.2.1 Availability of Viable Alternatives in the Market
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Feedstock
5.1.1 Agriculture Waste
5.1.2 Wood and Woody Residue
5.1.3 Solid Municipal Waste
5.1.4 Other Feedstocks
5.2 Application
5.2.1 Power Generation
5.2.2 Heating
5.2.3 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Emami Agrotech Ltd
6.3.2 Universal Biofuels Private Limited
6.3.3 BIOD ENERGY (INDIA) PVT. LTD
6.3.4 EnviTec Biogas AG
6.3.5 Aemetis Inc.
6.3.6 Monopoly Innovations Private Limited
6.3.6.1
- *List Not Exhaustive
6.4 List of Other Prominent Companies
6.5 Market Ranking Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 The Co-firing Mechanism and Untapped Biofuel Potential in India
India Biomass Industry Segmentation
Biomass is a renewable, organic material derived from plants and animals. It is made of material that comes from living organisms. Charcoal and wood are the most common biomass materials used for energy in India.
The Indian biomass market is segmented by feedstock and application. By feedstock, the market is segmented into agriculture waste, wood and woody residue, solid municipal waste, and other feedstocks. By application, the market is segmented by power generation, heating, and other applications. The market size and forecasts are done for each segment based on installed capacity (GW).
| Feedstock | |
| Agriculture Waste | |
| Wood and Woody Residue | |
| Solid Municipal Waste | |
| Other Feedstocks |
| Application | |
| Power Generation | |
| Heating | |
| Other Applications |
India Biomass Market Research FAQs
How big is the India Biomass Market?
The India Biomass Market size is expected to reach 11 gigawatt in 2024 and grow at a CAGR of 5.27% to reach 14.22 gigawatt by 2029.
What is the current India Biomass Market size?
In 2024, the India Biomass Market size is expected to reach 11 gigawatt.
Who are the key players in India Biomass Market?
Emami Agrotech Ltd, Universal Biofuels Private Limited, BIOD ENERGY (INDIA) PVT LTD, EnviTec Biogas AG and Aemetis Inc are the major companies operating in the India Biomass Market.
What years does this India Biomass Market cover, and what was the market size in 2023?
In 2023, the India Biomass Market size was estimated at 10.42 gigawatt. The report covers the India Biomass Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Biomass Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Biomass Industry Report
Statistics for the 2024 India Biomass market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Biomass analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
