Global Wood Pellet Fuel Market Overview:
Wood pellet fuels are biofuels produced from compressed organic matter as well as biomass, also including forest wood and waste, agricultural residue, energy crops, and food waste. Because of their low cost and low carbon footprint, these have emerged as a promising renewable energy source, replacing coal and natural gas in a variety of industrial sectors. They are co-fired in coal-fired power plants to reduce carbon emissions in the electricity generation sector. Furthermore, they are widely used in automatic stoves and boilers for residential heating. The easy availability of wood pellet fuel feedstock and low production costs have resulted in increased consumption in the industrial sector.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Increasing Awareness Regarding The Use Of Renewable Energy Sources For Power Generation
- Rising Demand For Cleaner And Renewable Sources For Power Generation
Roadblocks
- Presence Of Alternative Wood Pellet Fuel In Market
- Lack Of Awareness About The Benefit Of Wood Pellet Fuel
Opportunities
- Rising Number Of Power Plants In The Develop Regions
- Government Favorable Initiatives In Support Of Renewable Sources Of Energy
Challenges
- High Cost Associated With Development Of Wood Pellet Fuel
- Health Effects Caused By Wood Pellets
Competitive Landscape:
The market for Wood Pellet Fuel is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share.
Some of the key players profiled in the report are Drax Group (United Kingdom), Rentech, Inc. (United States), Enviva Partners, (United States), German Pellets GmbH (Germany), Viridis Energy Inc. (Canada), AS Graanul Invest (Estonia), Lignetics Of Idaho, Inc. (United States), Zilkha Biomass Energy, LLC (United States) and Land Energy Girvan Limited (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like Premium Pellet Ltd (Canada), Fram Renewable Fuels, (United States) and Bio Eneco Sdn Bhd (Malaysia). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Wood Pellet Fuel market by 2027. Considering Market by Wood Pellets Classification, the sub-segment i.e. Premium will boost the Wood Pellet Fuel market.
On 5 April 2022, Drax Group, the world’s leading producer and user of sustainable biomass has opened a new pellet plant at Demopolis in Alabama, bringing new jobs and economic opportunities to the town. and On 5 April 2022, Enviva Inc., the world’s leading producer of sustainable wood bioenergy,announced it will invest in New Production Plant for Bond, Mississippi to build a new wood pellet production plant. The facility is a key component of the company’s growth strategy to double production capacity from the current 6.2 million metric tons annually to approximately 13 million metric tons annually over the next five years.
What Can be Explored with the Wood Pellet Fuel Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Wood Pellet Fuel Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Wood Pellet Fuel
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Wood Pellet Fuel market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Wood Pellet Fuel market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.