The global industrial biomass boiler market is expected to reach US$ 193.1 billion by 2025, according to a report from Transparency Market Research. The market is expanding at a CAGR of 11.1 percent from 2016 to 2025, say the researchers.

Government institutions around the world — striving to develop biomass feedstock for heat and power generation due to rapid economic growth — are expected to drive the growth. Numerous state and national incentives directed toward increasing the installation of biomass boilers will fuel growth.