The global wood pellets market is anticipated to generate an absolute dollar opportunity with an opulent CAGR of 11% during the forecast period 2021-2031. There was a massive slowdown witnessed by the wood pellets market during the lockdown days due to the Covid-19 pandemic all over the world.
Eased restrictions and everyone slowly coming back to their daily routines have resulted in the recovery of the wood pellets market that commenced in 2021. Major market players are regaining their positions through production expansion, capacity utilization, and online selling in 2021 keeping in view the covid-19 norms.
Majorly driven by demand upsurge in residential heating segment, global wood pellets market is set for astounding growth at approximately 11% CAGR through the forecast period (2021-2031). Consumers in developed countries exhibit rising dependency on renewable sources such as pellet-based fuel, thereby driving sales.
Moreover, high price point of fossil fuel is accentuating the demand for pellet-based fuel sourced primarily from wood waste, agricultural residue and forest waste. Leading manufacturers are focused on implementing compliance plans, which include dedicated biomass power plants and co-firing.
The level of demand declined to the extreme level due to lockdown creating hurdles for the key players operating in this Wood Pellets Market. However as recovery commences in 2021, major players are recuperating their positions through production expansion, capacity utilization, and online selling in 2021 keeping in view the covid-19 norms.
Request a sample to obtain authentic analysis and comprehensive market insights @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11094
Key Takeaways of Wood Pellets Market Study
- Growing adoption of renewable energy continues to drive the sales of wood pellets.
- High combustion efficiency is the chief attribute surging the demand for wood pellets.
- Enhanced government incentive and favourable policies contribute substantially to the growth of wood pellets market.
- Europe holds a whopping 51.4% share in global wood pellets market.
- Asia Pacific to exhibit significant growth over the course of forecast period.
- Respiratory problems triggered by wood dust is stagnating the demand of wood pellets.
Stakeholders in wood pellets market must direct massive pecuniary resources towards R&D activities for product diversification, along with capacity expansion initiatives to fortify competitive ascendancy.
Market Gains to Remain Concentrated in Europe
Europe is the leading regional market of wood pellets, in terms of consumption. Strong active presence of globally leading manufacturers in this region is giving impetus to production capacity as well. Timber and dry sawdust are predominantly preferred by manufacturers for wood pellets production.
On account of low carbon emissions, pellet-based fuel continues to gain prominence in countries such as the United Kingdom, Germany, Italy and France. Low production cost, mounting environmental concerns, and easy availability are some of the factors contributing to the growth of wood pellets market. Moreover, innovations in combustion technology and established logistics network are bolstering the wood pellets market in Europe.
Product and Cost Differentiation to Remain Strategic Focal Point for Market Leaders
Global wood pellets market is highly fragmented. Major players profiled in this study include, but are not limited to, Georgia Biomass, LLC, Enviva Partners LP, Wood Pellet Energy (UK) LTD, Andritz AG, Energex, and Pinnacle Renewable Energy Inc. In a bid to remain prominent, industry leaders are channelling their resources towards product and cost differentiation.
Particle density, melting point, mechanical durability, moisture and ash content continue to remain key research areas in wood pellets industry. Moreover, companies are intensifying their efforts towards developing cleaner burning fuel, as opposed to fossil fuels.
Feel Free to Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-11094
Wood Pellets Market: Segmentation
The global wood pellets market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
By Feedstock
- Forest and Wood Waste Resources
- Agricultural Residue and Waste
- Food Waste
- Virgin Lumber
- Energy Crops
By End-use Industry
- Residential/Commercial Heating
- CHP/District Heating
- Co-firing
Table Of Content
1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
2. Executive Summary
2.1. Market snapshot
3. Wood Pellets Market Dynamics
4. Wood Pellets: Trend Analysis & Application Assessment
5. Wood Pellets: Regional Estimates & Trend Analysis
To be continued…!
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/wood-pellets-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs