About Biomass Pellets
The rise in the use of biomass pellets in the power industry is one of the key factors driving the growth of the global biomass pellet market. These may be derived from sources such as woody plants, timber industry, sawdust, sugarcane crop, and switchgrass. Biomass Pellet is considered to be a preferred choice compared to others as it displays a homogeneous size which aids the handling and feeding of the biomass pallets to the heating or incineration equipment. The growing demand for renewable energy sources and government initiatives and stringent environmental regulations are propelling the growth of the global biomass pellet market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Billion) |
CAGR | 10.74% |
Biomass Pellets is a fragmented market due to the presence of several players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States, United Kingdom and Australia Manufacturers will contribute the maximum growth to Global Biomass Pellets market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Drax Biomass (United States), International WoodFuels LLC (United States), Enviva Biomass (United States), Westervelt Renewable Energy LLC (United States), Forest Energy Corporation (United States), New England Wood Pellet (United States), Bio-bean Ltd (United Kingdom), Helius Energy (United Kingdom), MGT Power (United Kingdom) and Forth Energy (Australia) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Energex, Helius Energy Ltd. (Australia) and Woodstone (Australia).
Segmentation Overview
AMA Research has segmented the market of Global Biomass Pellets market by Type (Wood pellets, Pellet fuels and Others), Application (Industrial and Residential) and Region.
On the basis of application, Industrial segment is dominating the market in the year 2023On the basis of geography, the market of Biomass Pellets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End use, the sub-segment i.e. Power generation will boost the Biomass Pellets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Biomass Pellets as a Fuel by Hotel & Catering Industry and Rapid Depletion of Fossil Fuel and Global Warming Has Shifted the Global Interest from Conventional Energy to Green Energy
Market Growth Drivers:
Increasing Focus on Development of Renewable Energy Sources and Substantial Rise in Consumption of Biomass Pallets at Small Scale
Challenges:
Extraction Process of Biomass Pellet and Price Fluctuation
Restraints:
Increased Government Initiatives for Renewable Technologies
Opportunities:
Projects Are an Attractive Investment Option, Attraction of Projects Co-Investment from International Institution and Using Government Incentives to Advance Production Technologies
Market Leaders and their expansionary development strategies
In January 2022, Albioma has acquired the La Granaudière wood pellet production plant in Quebec. The plant has been out of service since July but is due to be recommissioned in early 2022, with its nominal annual production capacity of 200,000 tonnes being achieved following additional investments.
In April 2022, CPM, a manufacturer of pellet mills, pelleting equipment and automation products, has launched new technology to improve wood pellet mill efficiency.
Key Target Audience
Biomass Pellet Manufacturer, Biomass Pellet Supplier, Association & Government Bodies, Research Laboratory, Research Companies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.