Wood pellet fuels are biofuels made from compressed organic matter or biomass such as forest wood & waste, agriculture residue, energy crops, and other food waste. These have emerged as a promising renewable energy source, replacing coal and natural gas in various industrial sectors, owing to their low cost and reduced carbon emission. In the electricity generation sector, they are co-fired in coal-based power plants to reduce carbon emission. Moreover, for residential heating, they are widely used in automatic stoves and boilers.
Easy availability of wood pellet fuel feedstock and low cost of production have led to its higher consumption in the industrial sector. Rise in prices of fossil fuels and natural gas also fuels the market growth. Moreover, increase in environmental concerns about the emissions of greenhouse gases is anticipated to propel the market growth during the forecast period. According to the International Energy Agency (IEA), the global wood pellet fuel market has increased dramatically since 2011, with an average increase rate of 14% per year. However, norms laid down by the Sustainable Forestry Initiative and Forest Stewardship Council may hamper the market growth. Untapped potential of lignocellulosic waste in emerging economies, such as China and India, is anticipated to offer lucrative opportunities for the market players.
The global wood pellet fuel market is segmented based on feedstock, heating application, application, and geography. On the basis of feedstock, market is segmented into forest wood & waste, agriculture residue, and others. Based on heating application, it is categorized into free standing pellet stoves, pellet stove inserts, and pellet boilers. Applicationwise, the market is segmented into industrial pellet for CHP/district heating, industrial pellet for co-firing, pellet for heating residential & commercial, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The Major Players Profiled In This Study Include:
- Andritz AG
- Rentech, Inc.
- The Westervelt Company
- Enito Singpellet Pte Ltd.
- F.E. Wood & Sons
- Rentech, Inc.
- Allance Pellet Machinery
- Enviva LP, Wood Pellet Energy Ltd.
- Pinnacle Renewable Energy Group
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global wood pellet fuel market to elucidate the prevailing opportunities and potential investment pockets.
- It offers qualitative trends and quantitative analysis from 2016 to 2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the feedstock used for wood pellet fuel and its application.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies.
- The key players are profiled and their strategies & developments are analyzed to understand the competitive outlook of the industry.
Wood Pellet Fuel Market Key Segmentation:
- Forest Wood & Waste
- Agriculture Residue
- Others (Energy Crops, Food Waste, and Virgin Lumber)
By Heating Application
- Free Standing Pellet Stoves
- Pellet Stove Inserts
- Pellet Boilers
- Industrial Pellet for CHP/District Heating
- Industrial Pellet for Co-firing
- Pellet for Heating Residential & Commercial
- Others (Horse Bedding and Absorbent)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA