logo
logo
Sign in

Wood Pellets Market Size, Share & Trends Report, 2022-2029

avatar
Gmi Research
Wood Pellets Market Size, Share & Trends Report, 2022-2029

Wood Pellet Market was valued at USD 8.7 billion in 2021 and is projected to reach USD 16.7 billion in 2029 increasing at a CAGR of 8.5% from 2022-2029.

The factors driving growth of the Wood Pellet Market includes increasing use of wood pellets for producing electricity, growing emphasis on reducing greenhouse gas emissions, environment friendly properties of wood pellet and rising demand for renewable source of energy. Moreover, increasing focus on reducing the use of fossil fuels, growing adoption of advanced technologies by manufacturers and rising application of wood pellets in the residential areas, are some of the additional factors supplementing the Wood Pellet Market size. In addition, increasing investments by leading players on research and development, rise in the launch of innovative products, and growing population growth rates, are further contributing towards the market growth.

Request a free sample of this report

However, growth of the Wood Pellet Market is hindered attributed to regulations laid down by governing bodies on wood procurement.

The prominent players operating in the market are Enviva LP, Drax Group plc, International WoodFuels, LLC, German Pellets GmbH, Pinnacle Renewable Energy Inc., Energex., Lignetics, Canfor, Stora Enso, and Piveteau Bois.

Based on Application the Heating segment is predicted to capture the largest market share during the forecast period

Increasing use of wood pallets in the residential sector for cooking, grilling, and supplying heat to homes, subsidies provided by Governments on wood pellet and cost-effective features of wood pellet, are some of the factors responsible for the growth of Global Wood Pellet Market.

As per the Wood Pellet Market Outlook, Power Generation segment is projected to expand at a remarkable CAGR over the forecast period attributed to growing application of wood pellet for electricity generation across the globe.

Based on Region, the European region is anticipated to hold the highest market share over the forecast period

According to the Wood Pellet Market Analysis, increasing application of wood pallet in residential heating, growing adoption of advanced technologies by manufacturers, rise in the launch of innovative products, rapid industrialization and high per capita incomes, are some of the important factors augmenting the market growth in European region.

Key Development

  • In 2021, Drax Group plc officially acquired Pinnacle Renewable Energy, which is a major supplier of sustainable biomass fuel based in Canada

Market Segmentation

Segmentation by Production

  • Conventional Pellets
  • Stream-Treated Pellets

Segmentation by Application

  • Heating
  • Power Generation

Segmentation by Feedstock

  • Forest Wood & Waste
  • Agriculture
  • Residue
  • Others

Segmentation by Grade

  • Premium
  • Standard
  • Utility

Segmentation by Region

  • Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
  • North America
  • United States of America
  • Canada
  • Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
  • RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: [email protected]

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: https://www.gmiresearch.com/

collect
0
avatar
Gmi Research
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more