Press release
Global Wood Pellets Market to Reach USD 36.09 Billion by 2030 at a CAGR of 15% - Wood Pellets Market Forecast
Wood Pellets Market
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♦ Key Highlights:
Market size + CAGR: USD 13.57 billion in 2023; forecast to USD 36.09 billion by 2030 at a CAGR of ~15%.
Leading application / segment: Residential, commercial, industrial and animal bedding segments covered; industrial and residential applications gaining traction.
Largest / fastest-growing regional market: Europe expected to hold the highest share; Asia-Pacific and North America poised for significant growth.
Key drivers & trends: Shift from fossil fuels to biomass, renewable energy mandates, cost-competitiveness of wood pellets, high energy density and lower CO2 emissions.
Top companies: Notable players include Enviva Partners LP, Pacific BioEnergy, Premium Pellet Ltd., Drax Group plc, Graanul Invest among others.
♦ Market Outlook
The global wood pellets market is undergoing rapid transformation as regions strive to meet decarbonisation and renewable energy targets. According to the report, wood pellets-produced from finely processed wood bark, sawmill residues and other biomass-are increasingly used in residential heating, commercial boilers, industrial applications and power generation. The high energy density and relatively low CO2 emissions of wood pellets compared to conventional fossil fuels underpin their appeal. Regionally, favourable government policies, feed-in tariffs and incentives for biomass are boosting adoption. For example, Europe's advanced use of biomass for heating and power is expected to continue supporting growth. Meanwhile, North America benefits from competitive pricing of pellets versus propane or heating oil, and the Asia-Pacific region is gaining momentum as countries like China, South Korea and Japan increase biomass co-firing and CHP operations.
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♦ Regional Insights
In Europe, the wood pellets market remains dominant, with strong utility-scale biomass plants, district heating networks and strict carbon emissions targets driving uptake. The report signals Europe is expected to hold the largest share of the global market. North America represents a mature but still growing market, driven by residential heating conversions and export opportunities. Asia-Pacific is emerging as a fast-growing region thanks to increasing thermal power generation from biomass, shifting energy mixes and supportive government schemes. Markets in the Middle East, Africa and South America show smaller bases but present potential growth as infrastructure and regulatory frameworks evolve.
♦ Key Players & Competitive Landscape
Major players profiled in the report include Enviva Partners LP, Pacific BioEnergy, Premium Pellet Ltd., Lignetics, Graanul Invest, Drax Group plc and others. These companies are expanding production, investing in advanced pelletisation technologies and leveraging forestry residue supply chains to meet rising global demand. Competitive strategies include capacity expansion, mergers & acquisitions, partnerships and geographical diversification.
♦ Segmentation Insight
By grade, the market is segmented into Premium, Standard and Utility grades, with Premium grade commanding higher value due to lower ash content and higher performance specifications. By application, the market spans residential, commercial, industrial and animal bedding uses-each with distinct consumption patterns. The industrial segment, including power generation and co-firing, is emerging as a major growth area. By region, detailed forecasts by country and sub-region provide insight into local dynamics.
Among the drivers: the shift away from coal and oil, growing demand for renewable heating solutions, government renewable energy policies. Among restraints: potential feedstock supply constraints, logistics and transportation challenges, competing bio-fuels, regulatory changes and price volatility in raw materials.
♦ Quote
"Wood pellets represent a compelling renewable-fuel opportunity as energy systems pivot away from fossil fuels," said Jane Doe, Senior Analyst at Maximize Market Research. "With robust growth expected through 2030, companies that can secure sustainable biomass supply chains and optimise production will be well-positioned to capitalise on the wood pellets market growth."
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Pune, Maharashtra 411041, India
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