Biomass Power in the US - Industry Market Research Report

Biomass Power in the US - Industry Market Research Report
Biomass Power in the US

The biomass power industry has declined over the past five years. External competition from natural gas and alternative renewable energy sources hindered revenue throughout the period. However, most states have enacted renewable portfolio standards (RPSs), which require local utilities to generate electricity from renewable power as a percentage of their total energy portfolio. In addition, new production tax credits (PTC) were implemented, limiting revenue declines over the past five years. Over the past five years, revenue has slumped at a CAGR of 3.5% to $925.5 million, including an expected 0.2% decrease in 2023. Profit is expected to lag to 10.7% of revenue in 2023 from 17.3% in 2018.

Enterprises in this industry operate electricity-generating facilities using biomass (e.g., agricultural byproducts, landfill gas and biogenic municipal waste). Establishments primarily engaged in operating trash disposal incinerators that also generate electricity are classified in the Waste Treatment and Disposal Services industry (IBISWorld 56221).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.