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Biomass Pellet Market Size, Share, Latest Trend, Top Companies and Growth Forecast Report, 2030

11-17-2022 06:55 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Biomass Pellet Market Size, Share, Latest Trend, Top Companies

The biomass pellet industry has garnered $9.05 billion revenue in 2021, and it is predicted to rise at the rate of 6.75% from 2021 to 2030, to generate $16.29 billion revenue in 2030. The rising awareness of the benefits of utilizing biofuels and other renewable energy sources for commercial, residential, and industrial heating and power generation applications propels industry growth.

In addition, the government initiatives to encourage the adoption of renewable energy sources, growing low-carbon fuel demand, and availability of raw materials are several factors to fuel the biomass pellets demand.

Browse full report at: https://www.psmarketresearch.com/market-analysis/biomass-pellet-market

Under the source segment, wood sawdust dominates the industry, accounting for a 50% share in 2021, and it is projected to rise at a higher rate in the coming years.

Wood sawdust is burnt to produce steam, that can be utilized in generating power and supplying heat to commercial and residential spaces. That is why it is predicted to propel the wood sawdust-based pellets industry in the coming future.

The rising demand for renewable energy sources such as biomass pellets is led by the depletion of fossil fuel resources, and surging awareness of harmful environmental effects caused by the usage of fossil fuel-based products and processes.

In addition, the surging requirement for sustainable energy development is projected to fuel the requirement for biomass pellets.

Renewable energy sources and technologies cause little or no impact on the environment, compare to other energy sources. That is why they are considered environmentally friendly.

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Europe leads the biomass pellet industry, accounting for a 30% share in the industry, and the region-based is projected to rise at the fastest rate. It is ascribed to the rising demand for biomass pellets in power generation, including favorable government policies to aid energy renewable sources.

The major players operating in the industry are; AS Graanul Invest, Buhler AG, Lignetics, The Westervelt Company Inc., Forest Energy Corporation, New England Wood Pellet, and German Pellets Gmbh.

Therefore, the rising environmental concerns boost the demand for biomass pellets.

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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