Global Generation Wood Pellets Market
Global Generation Wood Pellets Market was valued US$ 7.74 Bn in 2017 and is expected to reach US$ 17.45 Bn by 2026, at a CAGR of around 9.45 % during a forecast period.
Global Generation Wood Pellets Market
The rising financial incentives by several federal agencies, numerous favorable government policies, and the low cost of raw materials for making wood pellets are the major factors driving the wood pellets market. In current years, significant progress made in logistics and advancement in combustion technology has boosted the wood pellets market. Also, the industry is observing growth on account of increased consumer awareness about the product benefits, such as complete combustion, cleaner burning fuel as compared to fossil fuels, and reduction in Greenhouse Gas (GHG) emissions. Conversely, decline in crude oil prices, rising government certification criteria and procurement policy are the key restraining factors in the wood pellet market.
On the basis of end-use, with the growing use of industrial pellets for CHP, this end use segment is anticipated to expand at a decent CAGR of 10.29% over the forecast period. Also, residential heating segment accounted for over 46 % of the global market share on account of rising penetration of wood pellets in the European and American economies for space heating during winters.
The global wood pellet industry has observed major expansion of global key players, with different product portfolios. The wood pellet market is highly competitive, with players focusing on a diverse range of contributions based across different features and cost differentiations. Competitors, with an objective to gain high market share and raise their geographical presence, focus on constant innovation, leaning their distribution chain and improving the penetration of their products by tying up with several industries.
Geographically, Europe is a major market for wood pellets and led the market in 2015. The considerable demand for wood pellets from the U.K. has driven this regional market. The regional market is boosted by several government initiatives such as significant fiscal subsidies to boost the generation of renewable sources of energy. This has incentivized the use of wood pellets to produce electrical energy in this region. North America is another projecting region for wood pellets. Numerous stiff regulations related to emission norms have fueled this regional market. The recent formulation of federal policies that seek to establish the carbon-neutrality of biomass is another key factor boosting the wood pellets market in countries such as the U.S. In addition, the sustained expansion of wood pellet plants by several manufacturers in various cities of the U.S. is estimated to boost the production of wood pellets, thereby catalyzing the regional market.
In this report, historical information, primary responses, and property right information has been comprehensively analyzed to conclude the market size. Revenue of corporations in operation within the wood pellet market has been benchmarked to see the market size for the bottom year. Economic science indicators like gross domestic product and trade growth are thought-about to forecast the market size over the forecast amount.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global wood pellets market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global wood pellets market.
Scope of Global Wood Pellets Market
Global Wood Pellets Market, By Application
- Pellet Stove Inserts
- Pellet Boilers
- Free Standing Pellet Stoves
Global Wood Pellets Market, By End-Use
- Heat Generation
- Residential Heating
- Commercial Heating
- Power Generation
- Co-firing
- Combined Heat & Power (CHP)
- Others (absorbents, horse bedding)
Global Wood Pellets Market, By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key Players Operating in Global Wood Pellets Market
- Andritz AG
- Drax Group plc
- Enito Singpellet Pte Ltd
- Enviva LP
- F.E. Wood & Sons
- German Pellets GmbH
- Georgia Biomass, LLC
- Allance Pellet Machinery
- The Westervelt Company
- Pinnacle Renewable Energy Group
- Rentech, Inc.
- Energex
- Wood Pellet Energy (UK) LTD
- Agon Biomass
- AS Graanul Invest
- Premium Pellet Ltd.
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