San Francisco, 5 February 2019: The Report Wood Pellets Market Size, Share & Trends Analysis Report By Application
(Power Plants, Residential Heating, Commercial Heating, CHP Heating), By Region
(APAC, Europe, MEA), And Segment Forecasts, 2019 - 2025
The global wood pellet market size is projected to reach USD 15.47 billion by 2025
expanding at 9.2% CAGR, according to a new report by Grand View Research, Inc.
The product is obtained by recycling the timber and forest residues into clean,
renewable biomass fuel. Increased government spending on renewable energy for
power generation is expected to stimulate market development. Rising demand for
cleaner and renewable sources for power generation owing to instability in
fossil fuel prices is also expected to propel the product demand.
Moreover, wood pellets help reduce the
Greenhouse Gas (GHG) and carbon emissions, which is likely to augment their
usage; thereby boosting market growth. On the other hand, increasing
integration among timber industries towards pelletization is likely to be a major
concern for the manufacturers over the forecast period. However, several
policies and agreements, such as the Kyoto Protocol, the Paris Agreement of
COP21, and the American Clean Energy and Security Act, are estimated to drive
the product demand. In addition, increasing R&D activities to develop
innovative manufacturing procedures for wood pellets are projected to have a
positive impact on the market growth.
Access Research Report of Wood Pellet Market@ www.grandviewresearch.com/industry-analysis/wood-pellets-market
Further key findings from the study suggest:
· Power plants accounted for 34.1% of the
total revenue share in 2017 owing to the utilization of wood pellets in
providing heat for electricity generation by direct firing or co-firing with
coal in these plants due to its ability to undergo complete combustion
· The consumption of the product in
residential heating is expected to expand at a CAGR of 9.5% from 2018 to 2025
on account of the simple pellet heating technology coupled with minimum
operation and maintenance requirements
· The industry in Asia Pacific is expected to
register high growth owing to rising product demand in power plants
applications as a result of increased awareness for electricity generation
through renewable sources
· Europe region also accounted for a
significant market share in 2017 on account of high product penetration in
residential heating coupled with increased awareness regarding GHG emission
· Major companies in the global wood pellets
market focus on R&R for the development newer manufacturing technologies
and integration across the stages of value chain to gain a competitive edge
over others
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/green-building-materials
Grand View Research has segmented the
global wood pellet market on the basis of application and region:
Wood Pellet Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Power Plants
·
Residential Heating
·
Commercial Heating
·
Combined Heat and Power (CHP)
Wood Pellet Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Wood Pellet Market@ www.grandviewresearch.com/press-release/global-wood-pellets-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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