USD 8.68 billion
Industrial Wood Pellet Market Size, Share, Growth Analysis, By Feedstock(forest waste, and agricultural waste), By Application(the industrial wood pellet market is segmented into power generation, and combined heat & power (CHP) ), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10B2032 |
Region:
Global |
Published Date: April, 2024
Pages:
178
|Tables:
61
|Figures:
75
Industrial Wood Pellet Market Insights
Industrial Wood Pellet Market size was valued at USD 8.68 billion in 2022 and is poised to grow from USD 9.16 billion in 2023 to USD 14.05 billion by 2031, growing at a CAGR of 5.50% during the forecast period (2024-2031).
Wood pellets are the most common type of pellet fuel and are generally made from compacted sawdust and related industrial wastes from the manufacture of wood products, milling of lumber, and furniture, and construction. According to the World Bioenergy Association, pellets may substitute coal in power generation facilities. Industrial wood pellets are energy dense, and low in moisture, used in Biomass dedicated energy plants, combined heat and power plants, and others. Moreover, their high energy content, and density combine for producing efficient, portable, and reliable forms of low carbon combustion.
Industrial Wood Pellet market may grow due to the stringent government initiatives which are promoting biofuels for energy production. Also, the rising awareness towards environmental safety coupled with increased need for clean energy are driving the market growth during the forecast period.
US Industrial Wood Pellet Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Power generation
Fastest Growth
Combined Heat & Power (CHP)
Growth Rate
5.50% CAGR
Global Industrial Wood Pellet Market, 2021-2030 ($ Bn)
Country Share for Europe Region- 2021 (%)
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Industrial Wood Pellet Market Segmental Analysis
Global industrial wood pellet market is segmented based on the feedstock, application, and region. Based on feedstock, the market is segmented into forest waste, and agricultural waste. Based on application, the industrial wood pellet market is segmented into power generation, and combined heat & power (CHP). Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Feedstock
Based on feedstock, global industrial wood pellet market is segmented into forest waste, and agricultural waste. The forest waste segment is predicted to capture the market during the forecast period as by-products from laboriously managed forests are the main cause of producing industrial wood pellets. Moreover, the large portion of these by-products is from traditional forestry operations including sawmills, and others.
Analysis by Application
Based on application, the industrial wood pellet market is segmented into power generation, and combined heat & power (CHP). The power generation segment is anticipated to hold the largest market share. The industrial wood pellets are better for the environment as compared to coal or any other fossil fuels that legacy power plants utilized to produce electricity.
The combined heat & power (CHP) segment is anticipated to grow at a healthy pace during the forecasting timeline owing to the voluntary target within the updated Renewable Energy Directive for the member states for increasing renewable energy in heating, and cooling by 1.32 percentage per year, that will further create business opportunities for heating purposes.
Global Industrial Wood Pellet Market By Application, 2021 (%)
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Industrial Wood Pellet Market Regional Insights
Europe is anticipated to capture the global industrial wood pellet market during the forecast period. Increasing consumption rate of pellet-based energy in the U.K. is propelling the wood pellets growth in the region. The high demand from large-scale power plants for wood pellets in the U.K., Belgium, and the Netherlands may boost the demand in the region as residential applications of pellets is insignificant.
North America is anticipated to grow substantially during the anticipated period due to the growing residential demand from the United States, increasing substitutes of traditional burners for developing automatic feed-in & comfort. However, Canada is growing at a healthy pace due to increasing usage in the residential heating and power plants sector.
Asia Pacific is, however, estimated to hold a considerable market share during the anticipated timeline thanks to the increasing growth rate of wood pellets from China, South Korea, and Japan in the region. The demand for wood pellets is boosting the power plants for electricity generation and may significantly grow due to the increasing number of power plants in the region.
Global Industrial Wood Pellet Market By Geography, 2021-2030
- Largest
- Fastest
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Industrial Wood Pellet Market Dynamics
Drivers
Demand from End User Industries is Bolstering Market Growth
- Increasing popularity of wood pellets in end-use industries in terms of increasing prices of primary fuel is the growth factor of industrial wood pellets. Furthermore, the cheap production cost and the ease of availability of pellet fuel feedstock, increases the consumption of the product in the industrial sector.
Restraints
Complicated Customs to Hinder Market Growth
- Increasing government certification criteria for exporting goods to various countries including Europe where renewable energy production is compulsory according to the various policies hampering the market growth.
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Industrial Wood Pellet Market Competitive Landscape
Global industrial wood pellet market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
- Enviva Partners, LP
- Drax Group plc
- Pinnacle Renewable Energy Inc.
- Georgia Biomass, LLC
- Pacific BioEnergy Corporation
- The Westervelt Company, Inc.
- Woodfiber Resources LLC
- Fram Renewable Fuels, LLC
- AS Graanul Invest
- Energex Corporation
- German Pellets GmbH
- Rentech, Inc.
- Andritz AG
- Green Circle Bio Energy, Inc.
- Arch Wood Protection, Inc.
- Pfeifer Group
- ECN
- Pöyry Management Consulting (UK) Limited
- RWE AG
- F.E. Wood & Sons, Inc.
Recent Developments
- In October 2022, Enviva Biomass opened the largest wood pellet plant in Lucedale, Mississippi. The company has hired 90 full-time employees to support plant operations in Lucedale.
- In February 2022, the government of France launched an initiative: a call for expressions of interest that aims to identify and support projects to replace coal currently used in heating, industrial and power-generation applications with heat-treated biomass pellets, including those produced via a torrefaction or steam explosion process.
Industrial Wood Pellet Key Market Trends
- Increasing demand for electricity is on the rise due to the major factors such as growing population, increasing changes in living standards, prospering industrial sector, and infrastructure development, and development of countries. This demand increases power generation capacity by installing new plants, and widening the existing plants capacity.
Industrial Wood Pellet Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global industrial wood pellet market analysis, the contributions of the Asia Pacific region in terms of industrial wood pellets due to the presence of key market players across the region led to the fastest growth of the region. Furthermore, the government initiatives and policies that are favourable to the growth of the industrial wood pellets market such as government grants and funding programs that provide investment subsidies and tax benefits.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.68 billion |
| Market size value in 2031 | USD 14.05 billion |
| Growth Rate | 5.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Industrial Wood Pellet Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Industrial Wood Pellet Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Industrial Wood Pellet Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Wood Pellet Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Wood Pellet Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Industrial Wood Pellet Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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