Wood Pellet Market Current Demand, and Business Opportunities
Wood pellets are produced using finely ground wood bark and majorly used as a fuel. These are extensively used in residential houses for efficient burning in smaller stoves. Wood pellets are produced from numerous wood waste products and considered as a source of renewable energy. Currently, along with residential heating, there is an increased use of wood pellets for power generation across the globe. These are largely utilized globally as fuel which is also expected to increase the demand for wood pellet in coming years. Europe is the leading region for the consumption of wood pallets for power generation, along with this North America is the significant exporter and expected to increase the production facilities of wood pellet in coming years.
The wood pellet market was valued at US$ 9,630.99 million in 2020 and is projected to reach US$ 23,892.77 million by 2028; it is expected to grow at a CAGR of 12.1% from 2020 to 2028. Wood pellets are produced using finely ground wood bark; they are majorly used as fuel. These are extensively used in residential houses for efficient burning in smaller stoves. Wood pellets are produced from numerous wood waste products and are considered a source of renewable energy. Currently, along with residential heating, there is increased use of wood pellets for power generation across the globe. These are largely utilized globally as a fuel, which is expected to increase the demand for wood pellets in the coming years. Europe is the leading region for the consumption of wood pellets for power generation. Moreover, North America is the significant exporter of wood pellets, which is expected to increase the production facilities of wood pellets in the coming years.
Get Sample Copy of Report PDF: https://www.theinsightpartners.com/sample/TIPRE00004254/
Based on application, the wood pellet market is segmented into residential heating, commercial heating, CHP (combined heat and power), and power generation. The residential heating segment led the wood pellet market with the highest market share in 2020. Wood-fueled systems are commonly used worldwide for residential heating, and recently wood pellets have been replacing traditional firewood. Wood pellet boilers for residential heating applications promise low emissions, high efficiency, and automatic operation. Wood pellets are used for residential heating in pellet stoves. They are also used in pellet boilers to generate heat, steam, and electricity in the service industry, power generation, and manufacturing.
The global wood pellet market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2020, Europe contributed to the largest share in the global market.
Buy Now: https://www.theinsightpartners.com/buy/TIPRE00004254/
ANDRITZ; Energex Pellet Fuel, Inc.; Enviva; New England Wood Pellet LLC; Pacific BioEnergy; Pinnacle Renewable Energy Inc; Premium Pellet Ltd.; Graanul Invest; Wood & Sons; and TANAC are among the well-established players operating in the global wood pellet market.
Browse More Related Reports by the insight partners:
Microfluidics Market
https://www.theinsightpartners.com/reports/microfluidics-market
Neuromodulation Market
https://www.theinsightpartners.com/reports/neuromodulation-market/
Pacemakers Market
https://www.theinsightpartners.com/reports/pacemaker-market
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
