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Top Factor Driving Wood Pellets Market Growth in 2025: Rising Global Demand For Renewable Energy Fuels Wood Pellets Market Growth
Wood Pellets Market
The surge in worldwide demand for reusable energy is predicted to boost the expansion of the wood pellets market. Reusable energy is energy that comes from natural resources and replenishes more quickly than it is used up. Wood pellets, made from a range of wooden waste products, represent this type of energy. For example, in June 2023, data from the Energy Information Administration, a government agency in the US, revealed that reusable energy usage rose to 13.2 quads in 2022, up from 12.1 quads in 2021 in the United States. As a result, the increased global appetite for reusable energy is fuelling the growth of the market for wood pellets.
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What is the future CAGR of the wood pellets market, and how will it impact industry expansion?
There has been a swift expansion in the size of the wood pellets market in recent years. This market is projected to increase from $11.96 billion in 2024 to $13.42 billion in 2025, boasting a compound annual growth rate (CAGR) of 12.2%. Factors contributing to the growth in the historical period include government incentives, development of biomass power stations, increased environmental consciousness, variability in fossil fuel prices, and economic growth.
The market size for wood pellets is projected to experience swift expansion in the upcoming years. It's anticipated to surge to $21.49 billion by 2029, with a compound annual growth rate (CAGR) of 12.5%. This anticipated growth during the forecasted period is credited to elements such as carbon pricing and emissions reduction, international exchange and trade opportunities, increasing use in residential areas, escalation in renewable energy demand, and the growing power generation industry. During the forecast period, significant trends to watch will include advanced techniques in pellet production, sustainable sourcing, certification and standards for pellets, research and development, as well as strategic partnerships and collaborations.
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What are the most significant trends transforming the wood pellets market today?
Key businesses operating within the wood pellet market are making strides in developing innovative solutions such as industrial pellet plants. The aim of these advancements is to boost production efficiency, minimize expenses, and enhance sustainability through optimal sourcing of raw materials. Industrial pellet plants manufacture pellets from biomass materials. Such materials are known for their substantial energy density and environmentally friendly traits. The ease of managing these pellets makes them preferable for renewable energy use and sustainable activities. For instance, in December 2022, Golden State Natural Resources, a nonprofit public benefit corporation set in the U.S., initiated two industrial wood pellet projects. The operation at the Tuolumne location is expected to yield 300,000 tons of wood pellets each year. On the other hand, the Lassen location aims at an annual 700,000-ton production, with a keen focus on sustainably-sourced biomass for environmentally conscious production. The produced wood pellets will be loaded onto railcars and taken to ports for the purpose of export to clients who use bio-based fuels for energy generation. Once public review is complete, an Environmental Impact Report (EIR) will be compiled to evaluate the prospective environmental repercussions of the project.
Which key market segments comprise the wood pellets market and drive its revenue growth?
The wood pellets market covered in this report is segmented -
1) By Feedstock: Forest And Wood Waste Resources, Agricultural Residue and Waste, Food Waste, Virgin Lumber, Energy Crops
2) By Production Process: Sawdust Preparation, Screening, Hammering, Pelletizing, Cooling And Packaging
3) By Application: Heating, Power Generation, Combined Heat And Power (CHP)
4) By End-User: Residential, Commercial, Industrial
Subsegments:
1) By Forest And Wood Waste Resources: Sawdust, Wood Chips, Bark
2) By Agricultural Residue And Waste: Straw, Corn Stover, Rice Husk
3) By Food Waste: Food Processing, Organic Waste
4) By Virgin Lumber: Logs, Wood Shavings
5) By Energy Crops: Miscanthus, Switchgrass, Short Rotation Woody Crops
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What regions are at the forefront of wood pellets market expansion?
Europe was the largest region in the wood pellets market in 2024. Asia-Pacific is expected to be the fastest growing region in the wood pellets market report during the forecast period. The regions covered in the wood pellets market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the wood pellets market?
Major companies operating in the wood pellets market include Enviva Inc., Energex American Inc., Graanul Invest AS, Pinnacle Renewable Energy, Fram Renewable Fuels LLC., Segezha-Group, Lignetics Inc., Asia Biomass Public Company Limited, Sinclar Group Forest Products, Wood Pellet Energy UK Ltd., Highland Pellets LLC, Groupe Savoie Inc, Drax Group plc, The Westervelt Company, Forest Energy Corporation, New England Wood Pellet, Pacific BioEnergy Corporation, Maine Woods Pellet Company, Bear Mountain Forest Products, Michigan Wood Pellet Fuel LLC., Somerset Pellet Fuel, Trae Fuels Ltd., Vermont Wood Pellet Company, Appalachian Wood Pellets
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What Is Covered In The Wood Pellets Global Market Report?
•Market Size Forecast: Examine the wood pellets market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the wood pellets market for a structured understanding.
•Key Players Overview: Analyze major players in the wood pellets market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the wood pellets market.
•Segment Contributions: Evaluate how different segments drive overall growth in the wood pellets market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the wood pellets market.
•Industry Challenges: Identify potential risks and obstacles affecting the wood pellets market.
•Competitive Landscape: Review strategic developments in the wood pellets market, including expansions, agreements, and new product launches.
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