Wood Pellet Market 2022 – 2027 | Prominent Players, Business Demand, Comprehensive Analysis, Global Prospect by Future Growth Analysis
Stratview Research delivers key insights on the global Wood Pellet Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Wood Pellet Market:
Stora Enso Oyj
Enviva Partners, LP
Pacific Bioenergy Corporation
Drax Group plc
AS Graanul Invest
Lignetics, Inc.
Ecochipp
Svenska Cellulosa AB
InstantHeat Wood Pellets, Inc.
Pinnacle Renewable Energy Inc.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Wood Pellet Market value and growth drivers over the trend period of 2022-27. According to the report -
Wood pellet market is likely to witness an impressive CAGR of 10.5% during the forecast period. Increasing consciousness towards the use of renewable energy sources for space heating in residential and commercial heating, along with the increasing adoption of recyclable and eco-friendly energy sources for power generation are the prime factors that are contributing to the demand for wood pellets. The clean-burning and cost-effective fuel option for heating needs for households is another factor that is driving the demand for wood pellets.
Segment Analysis:
Based on Application Type:
Based on the application type, the wood pellet market is segmented as residential, commercial, industrial, and animal bedding. The residential segment held the largest share of the market in 2021. Increasing consumption of wood pellets in North America and major European countries, owing to the growing initiatives to increase dependency on renewable energy sources for reducing carbon emission is the major factor behind the growth of the segment.
Based on Region:
In terms of regions, Europe is estimated to be the largest market during the forecast period, with France, Germany, Russia, and the United Kingdom being the major countries with promising growth opportunities. The growth of the region’s market is mainly driven by the growing initiatives towards replacement of coal-fired power plants with pellet-based power plants, along with the growing focus on renewable energy sources in the region to reduce carbon emissions.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Wood Pellet Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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