Press release
Wood Pellet Market is Forecasted to Reach US$ 11.52 billion in 2028, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global wood pellet market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1019/wood-pellet-market.html#form
Report Highlights:
Market Size in 2028: US$ 11.52 billion
Growth (CAGR): 5.58% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Wood Pellet Market:
The global wood pellet market is segmented based on grade type, application type, and region.
Based on product type - "The utility grade segment dominates the market during the forecast period."
The wood pellet market is segmented as premium, standard, and utility based on the grade type. The utility grade segment held the largest share of the market and is expected to register the fastest growth during the forecast period. The utility grade segment is mainly driven by its low bulk density compared to that of premium-grade wood pellets. Utility-grade wood pellets provide benefits for space utilization in the industrial sector and due to this factor, the usage of utility-grade wood pellets has been growing for industrial heating applications.
Based on application type - "The residential segment dominates the market during the forecast period."
The market is segmented as residential, commercial, industrial, and animal bedding. The residential segment held the largest share of the market. Increasing consumption of wood pellets in North America and major European countries, owing to the growing initiatives to increase dependency on renewable energy sources for reducing carbon emission is the major factor behind the growth of the segment.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/1019/wood-pellet-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Europe is estimated to be the largest market during the forecast period. This growth outlook is majorly attributed to the following-
• France, Germany, Russia, and the United Kingdom are the major countries with promising growth opportunities.
• The growth of the region's market is mainly driven by the growing initiatives towards the replacement of coal-fired power plants with pellet-based power plants, along with the growing focus on renewable energy sources in the region to reduce carbon emissions.
Wood Pellet Market Drivers:
Some of the key drivers listed in the report are given below.
• Growing awareness of renewable energy's importance for space heating in homes and businesses is boosting demand for wood pellets.
• The rising use of recyclable and eco-friendly energy for power generation is also a key driver for wood pellet demand.
• The need for clean-burning and affordable fuel for household heating is a significant factor propelling the wood pellet market.
Top Companies in the Wood Pellet Market:
Stratview Research has identified the following companies as the top market players.
• AS Graanul Invest
• Drax Group plc
• Ecochipp
• Enviva Partners, LP
• InstantHeat Wood Pellets, Inc.
• Lignetics, Inc.
• Pacific Bioenergy Corporation
• Pinnacle Renewable Energy Inc.
• Stora Enso Oyj
• Svenska Cellulosa AB
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Wood Pellet Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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Website: www.stratviewresearch.com
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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