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Wood Pellet Market worth $13.67 billion by 2030, growing at a CAGR of 5.54% - Exclusive Report by 360iResearch
Wood Pellet Market | 360iResearch
The Global Wood Pellet Market to grow from USD 9.37 billion in 2023 to USD 13.67 billion by 2030, at a CAGR of 5.54%.
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Wood pellets are biomass fuel produced from compressed sawdust, wood shavings, or other wood waste materials. The production process involves compressing and extruding wood particles under high pressure, often without additives or binders. The method of pelletizing the wood affects the natural lignin within the wood, acting as a binder and negating the need for artificial additives. They are commonly used in heating systems for residential and commercial spaces and large-scale power generation. Wood pellets are regarded as a renewable energy source as they are made from biomass that can be replenished over a relatively short period compared to fossil fuels. The growth of the wood pellet market is primarily driven by an increasing demand for renewable energy sources, stringent governmental regulations on carbon emissions, and fluctuating fossil fuel prices. The environmental benefits of biofuels such as wood pellets have further enhanced their popularity among end-users. Moreover, the subsidies and incentives governments offer worldwide to promote green energy contribute to market expansion. However, fluctuating raw material prices affect the production cost of pellets, supply chain disruptions, technical challenges in pellet production, certain limitations, and materials scarcity issues affect the market growth. Moreover, the escalated efforts toward achieving carbon neutrality present significant opportunities for the wood pellet industry. Advancements in pellet production technologies, expansion in end-use applications beyond heating, and the availability of raw materials widen the growth prospects.
The American wood pellet industry is primarily led by increased consumer awareness about green energy and the environmental benefits of wood pellets. A surge in demand from large-scale applications such as industrial co-generation and heating systems drives the rising demand for wood pellets in the region. Furthermore, the country has implemented several renewable energy initiatives and investments supporting the local wood pellet industry, contributing to overall market growth in the region. In the EMEA region, the EU countries are major consumers of wood pellets due to stringent environmental regulations and goals set by the government. The Middle East and Africa have substantial future growth potential due to vast uncultivated lands and agricultural waste availability. Key countries and players in the European market and governmental policies support the application of renewable energy sources, enhancing the region's market demand. Furthermore, due to their environmental sustainability, these nations showcase a higher propensity for heating systems powered by wood pellets. In Asia-Pacific, the rising demand for wood pellets is largely driven by residential heating needs, especially during harsh winters. The rising production and export and a surge in demand for sustainable energy sources are expanding the market needs in the region. The growing urbanization, industrialization, and burgeoning demand from residential, commercial, and power plant sectors further fuel the market growth.
Market Segmentation & Coverage:
This research report categorizes the Wood Pellet Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Grade, market is studied across Grade A1, Grade A2, and Grade B. The Grade A1 commanded largest market share of 48.71% in 2023, followed by Grade A2.
Based on Size, market is studied across 10-12 mm in Diameter, 6-8 mm in Diameter, and 8-10 mm in Diameter. The 6-8 mm in Diameter commanded largest market share of 39.61% in 2023, followed by 10-12 mm in Diameter.
Based on Appearance, market is studied across Black and White. The Black commanded largest market share of 49.76% in 2023, followed by White.
Based on Application, market is studied across Combined Heat & Power (CHP), Heating, and Power Generation. The Heating commanded largest market share of 46.62% in 2023, followed by Combined Heat & Power (CHP).
Based on End-Use, market is studied across Commercial, Industrial, and Residential. The Industrial commanded largest market share of 55.25% in 2023, followed by Commercial.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Ohio, Pennsylvania, Texas, and Virginia. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 49.14% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Wood Pellet Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Wood Pellet Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Wood Pellet Market, highlighting leading vendors and their innovative profiles. These include A Group Archimbaud's Company, Ambienta Sgr S.p.A., An Viet Phat Energy Co., Ltd., AS Graanul Invest, Ayo Biomass, Biomass Vietnam JSC (BVN), CSE Biomass, Dongguan FREETO Medical Technology Co., LTD, Drax Group PLC, Duraflame Inc., Eco Energy One Co., Ltd, Ecowood Pellets, Energex Corporation, Enviva Inc., Farm Fuels, FORESTALIA RENOVABLES SL, Fram Renewable Fuels LLC, Furtado Farms Cookwood, Grilla Grills by American Outdoor Brands, Inc., Groupe Savoie Inc., Highland Pellets, LLC., I.C.S. (Lacroix) Lumber Inc., Land Energy Girvan Limited, Lauzon Hardwood, Lignetics Group, Mallard Creek Inc., Mann Lake Bee & Ag Supply, Mayr-Melnhof Holz Holding AG, Midland Bio Energy Ltd., Naparpellet, PFEIFER GROUP, Premium Pellets Ltd., Quality (1971) Box, Schwaiger Holzindustrie GmbH & Co. KG, Segezha-Group, Sinclar Group Forest Products, Stanford Sonoma Corp., TANAC, TotalEnergies SE, TPN Green Innovation Co., Ltd., Traeger, Inc., United Group, Valfei Products Inc., Vermont Wood Pellet Company, Wood & Sons, Wooder Ukraine LLC, and Woodyfuel Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Wood Pellet Market, by Grade
7. Wood Pellet Market, by Size
8. Wood Pellet Market, by Appearance
9. Wood Pellet Market, by Application
10. Wood Pellet Market, by End-Use
11. Americas Wood Pellet Market
12. Asia-Pacific Wood Pellet Market
13. Europe, Middle East & Africa Wood Pellet Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Wood Pellet Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Wood Pellet Market?
3. What is the competitive strategic window for opportunities in the Wood Pellet Market?
4. What are the technology trends and regulatory frameworks in the Wood Pellet Market?
5. What is the market share of the leading vendors in the Wood Pellet Market?
6. What modes and strategic moves are considered suitable for entering the Wood Pellet Market?
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