What is the global market size of Industrial Wood Pellet Market?

Industrial Wood Pellet Market size was valued at USD 8.23 billion in 2021 and is poised to grow from USD 8.68 billion in 2022 to USD 13.33 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

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

Q: Who are the key vendors in the Global Industrial Wood Pellet Market?

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. '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.'

Q: Which region accounted for the largest share in Industrial Wood Pellet Market?

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.

Report ID: SQMIG10B2032 | Region: Global | Published Date: April, 2024
Pages: 178 | Tables: 61 | Figures: 75

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.

Industrial Wood Pellet Market Report Snapshots

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FAQs

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).

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. '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.'

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.

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.

Europe is anticipated to capture the 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.

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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

Industrial Wood Pellet Market Dynamics

Industrial Wood Pellet Market Report Snapshots

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What is the market size of Industrial Wood Pellet Market?

Who are the key vendors in the Industrial Wood Pellet Market?

What is the key driver of Industrial Wood Pellet Market?

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Which region accounted for the largest share in Industrial Wood Pellet Market?

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