Press release
Europe to dominate the Global Wood Pellet Fuel Market till 2026
According to TechSci Research report, “Global Wood Pellet Fuel Market By Feedstock (Forest Wood & Waste, Agriculture Residue, and Others), By Heating Application (Free Standing Pellet Stove, Pellet Stove Inserts, and Pellet Boilers), By Application (CHP/District Heating, Power Plants, Residential Heating, and Commercial Heating), By Region, Competition Forecast & Opportunities, 2026”, the global wood pellet fuel market is expected to witness steady CAGR for the forecast period, 2022-2026. Wood pellet fuel is a kind of biofuel and is made up of compressed organic matter such as energy crops, agriculture residue, forest wood and waste, and other food waste. Wood pellet fuels are clean as during the production process no additives are added to them. These have higher combustion efficiency owing to the presence of low moisture content. Wood pellet fuel can be easily stored and transported which aids in saving a lot of energy and space. The rising population around the globe is increasing the demand for more energy generation and consumption. The adverse effects of using fossil fuels as energy sources and the surge in awareness about the benefits of using renewable energy sources are paving the way for the wood pellet market growth. Wood pellet fuels can be used as a home heating fuel in special pellet burning stoves or biomass boilers. Pellet stoves are better than the regular open wood fireplaces as they burn cleaner with less soot and smoke. After burning the wood pellet fuel, the residual can be used as a fertilizer which further ensures sustainable development. The presence of a large number of power generation industries using coal as a fuel especially in Asia-pacific is huge market potential to witness growth in the next five years. The growing demand from the energy generation industry and the easy adaptability of wood pellets with automated combustion systems in coal-fired power plants are expected to drive the demand of the market for the power generation industry. The presence of favorable government policies and stringent regulations regarding environmental sustainability and the rise in the efforts of the leading authorities to achieve their required emission targets is expected to propel the demand for wood pellet fuel as they are clean energy sources.
However, when used as a pellet stove requires the supply of electricity, and regular maintenance and availability of alternative renewable energy sources are expected to restrain the growth of the global wood pellet fuel market in the forecast period.
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Global wood pellet fuel market is segmented into feedstock, heating application, application, regional distribution, and company. Based on the application, the market can be divided into CHP/district heating, power plants, residential heating, and commercial heating. The commercial heating segment is expected to witness growth in the forecast period, 2022-2026. The lower cost of using wood pellet as an energy source than the other energy sources make it an economically viable option for the commercial industries to use as the primary energy source. Wood pellet fuel is used to supply heat to the residential spaces for various purposes like cooking, grilling, among others. The government of many countries is providing subsidies and incentives to increase the use of wood pellet fuel in different applications.
Wood Pellet Energy (UK) LTD, Energex, Rentech, Inc., Pinnacle Renewable Energy Group, The Westervelt Company Inc., German Pellets GmbH, F.E. Wood & Sons, Enviva LP are the leading players operating in global wood pellet fuel market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several wood pellet fuel manufacturers are coming up with their technologically advanced offerings.
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“The growing demand for wood pellet fuel for cleaner energy generation and the easy availability of raw materials such as compacted sawdust & timber is expected to pave the way for market growth. High-end investments by the market players for technological up-gradation of the existing infrastructure and the use of advanced technologies such as hydrothermal carbonization, steam explosion, among others to produce high-quality wood pellet fuels with high calorific value is expected to boost the growth of the global wood pellet fuel market till 2026.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Wood Pellet Fuel Market By Feedstock (Forest Wood & Waste, Agriculture Residue, and Others), By Heating Application (Free Standing Pellet Stove, Pellet Stove Inserts, and Pellet Boilers), By Application (CHP/District Heating, Power Plants, Residential Heating, and Commercial Heating), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of global wood pellet fuel market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global wood pellet fuel market.
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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