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Biomass Pellet Market Overview, Development by Companies and Comparative Analysis by 2020
Press release from: P&S Market Research
The global biomass pellet market was valued at $6,976.3 million in 2014, and it is expected to grow with a CAGR of 11.1% during 2015 - 2020. The factors driving the growth of the global market include low GHG emission from biomass, increased government initiatives for renewable technologies, need for constant energy supply and massive untapped biomass potential. The rapid depletion of fossil fuels and global warming caused by their usage has shifted the global interest from conventional energy to green energy.
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In 2014, the European market held the largest share in the global biomass pellet market, in terms of value and volume. The major reasons behind the growth of the biomass pellets market in the region are low GHG emission from biomass and increased government initiatives for adoption of renewable technologies.
The power sector application segment is expected to witness the fastest growth (12.4% CAGR) during 2015 – 2020 in terms of value, in the global biomass pellet market. However, Asia biomass pellet market is expected to witness the fastest growth (21.6% CAGR) globally during 2015 – 2020.The major consumers of biomass pellets in Asia are China, Japan and South Korea.
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The key companies operating in the global biomass pellet market include Viridis Energy Inc., Drax Biomass, Enviva Biomass, Westervelt Renewable Energy LLC, International WoodFuels LLC, Energex, Helius Energy Ltd., Forest Energy Corporation, and New England Wood Pellet.
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P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.
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