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Wood Pellet Market Size, Share and Industry Analysis, Report 2025-2033

12-05-2024 11:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Wood Pellet Market Size, Share and Industry Analysis, Report

Wood Pellet Industry

Summary:

• The global wood pellet market size reached USD 14.0 Billion in 2024.
• The market is expected to reach USD 22.6 Billion by 2033, exhibiting a growth rate (CAGR) of 5.5% during 2025-2033.
• Europe leads the market, accounting for the largest wood pellet market share.
• Forest wood and waste represents the largest segment as it promotes sustainable forestry practices and influences feedstock grade choice due to their abundant and renewable supply.
• Residential heating holds the largest share of the industry.
• The rising global emphasis on renewable energy sources is a primary driver of the wood pellet market.
• The wood pellet market growth and forecast highlight a significant rise due to technological advancements in wood pellet production.

Industry Trends and Drivers:

• Growing Demand for Renewable Energy

The growing global focus on renewable energy sources is driving the expansion of the wood pellet market. Wood pellets, recognized as a sustainable and carbon-neutral fuel, are gaining widespread use for both residential heating and large-scale power generation. Governments around the world are supporting renewable energy initiatives through subsidies and incentives to reduce dependence on fossil fuels and address climate change. For example, the European Union has set strict renewable energy targets, promoting the use of biomass, including wood pellets, in energy production. These pellets provide an eco-friendly alternative by utilizing wood waste, which helps reduce deforestation and supports waste management. As industries and households increasingly adopt renewable energy solutions, the demand for wood pellets continues to rise.

• Advancements in Pellet Production Technology

Technological advancements in wood pellet production are driving market growth by improving product quality and efficiency, shaping key trends in the wood pellet market. Modern manufacturing processes, including advanced pelletizing equipment, enable the production of high-density pellets with low moisture content, resulting in better combustion and higher energy output. Automation in production facilities has streamlined operations, lowered costs, and made wood pellets more accessible to a wider market. Additionally, innovations in raw material use, such as incorporating agricultural residues and sawdust, are broadening the resource base, reducing waste, and enhancing sustainability. These advancements make wood pellets a more viable and attractive energy source, increasing their adoption across various industries.

• Rising Focus on Energy Security

The growing emphasis on energy security and the diversification of energy sources is driving the expansion of the wood pellets market. Countries that rely on imported fossil fuels are increasingly turning to biomass solutions like wood pellets to improve energy independence and reduce vulnerabilities to geopolitical disruptions. Wood pellets provide a reliable, locally available fuel source, ensuring a stable and consistent supply for heating and power generation. This shift is particularly noticeable in regions such as Europe and Asia, where energy policies focus on reducing reliance on external energy sources. The role of wood pellets in supporting energy diversification and enhancing long-term energy security is a key factor propelling their market growth.

For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/wood-pellet-market/requestsample

Wood Pellet Market Report Segmentation:

Breakup By Feedstock Type:

• Forest Wood and Waste
• Agriculture Residue
• Others

Forest wood and waste represents the largest segment as it promotes sustainable forestry practices and influences feedstock grade choice due to their abundant and renewable supply.

Breakup By Application:

• Power Plants
• Residential Heating
• Commercial Heating
• Combined Heat and Power (CHP)
• Others

Residential heating holds the largest share of the industry driven by a desire for cleaner, environmentally sustainable fuel sources.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Europe holds the leading position owing to a large market for wood pellet driven by the country's dedication toward renewable energy and carbon neutrality.

Top Wood Pellet Market Leaders:

• Andritz AG
• Asia Biomass Public Company Limited
• Drax Group PLC
• Energex
• Enviva LP
• Fram Renewable Fuels LLC
• Land Energy Limited
• Lignetics Inc.
• Mallard Creek Inc.
• Pacific BioEnergy Corporation
• Stora Enso Oyj
• Svenska Cellulosa Aktiebolaget
• Tanac S.A.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Contact Us:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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