Report Code: A02737 | Pages: NA | Jul 2023 | 11492 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Wood Pellet Fuel Market
Request Now !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.
Key Benefits
Wood Pellet Fuel Market Report Highlights
Aspects | Details |
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By Feedstock |
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By Heating Application |
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By Application |
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By Region |
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Key Market Players | Energex, Rentech, Inc., Enviva LP, Wood Pellet Energy Ltd., Enito Singpellet Pte Ltd., Allance Pellet Machinery, The Westervelt Company, Andritz AG, F.E. Wood & Sons, Pinnacle Renewable Energy Group |
Other Key Market Players | Biopower Sustainable Energy Corp., Asia Biomass Public Company Limited |
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