The global wood pellet market is a dynamic sector witnessing substantial growth in response to increasing demand for alternative and cleaner energy sources. Wood pellets, compressed biomass derived from wood waste, offer a viable solution for industries seeking renewable energy. With applications ranging from residential heating to industrial power generation, wood pellets contribute to reducing carbon emissions and dependence on fossil fuels. The market geographically spans regions with abundant forestry residues and wood processing by-products.
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Data Bridge Market Research analyzes that the Global Wood Pellet Market will grow at a CAGR of 6.2% during the forecast period of 2023 to 2030. Governments worldwide provide crucial support through policies and incentives, fostering the adoption of wood pellets as a cleaner energy source. This backing accelerates the transition towards sustainable energy solutions in various sectors.
Key Findings of the Study
The rise in demand for sustainable fuel across the globe is expected to drive the market's growth rate
The global surge in demand for sustainable fuels is evident as they derive from renewable sources such as plants and industrial waste. Comprising biofuels such as hydrotreated vegetable oil (HVO), bioethanol, and synthetic options such as ammonia or methanol, these fuels play a pivotal role in achieving ambitious decarbonization goals. Projections indicate sustained growth, with 100% renewable diesel emerging as a long-term, environmentally friendly alternative in the pursuit of cleaner energy solutions.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Segments Covered
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Grade (Standard Wood Pellet, Utility Wood Pellet, and Premium Wood Pellet), Flavors (Traeger Signature Wood Pellets, Hickory Wood Pellets, Pecan Wood Pellets, Apple Wood Pellets, Cherry Wood Pellets, and Mesquite Wood Pellets), Application (Residential Heating, Power Plants, Commercial Heating, Combined Heat and Power (CHP), and Animal Bedding)
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Countries Covered
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U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Turkey, Russia, Netherlands, Belgium, Switzerland, rest of Europe, South Africa, Israel, Saudi Arabia, U.A.E, Egypt, rest of Middle East and Africa, China, Japan, South Korea, India, Australia & New Zealand, Thailand, Indonesia, Malaysia, Philippines, Singapore, rest of Asia-Pacific, Brazil, Argentina, and rest of South America
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Market Players Covered
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AVPGroup (Austria), Drax Group plc (U.K.), Energex (U.S.), Enviva Inc. (U.S.), Erdenwerk Gregor Ziegler GmbH (Germany), German Pellets (Germany), Graanul Invest (Estonia), Holzwerke Weinzierl GmbH (Germany), Land Energy (U.K.), Lignetics (U.S.), Mallard Creek Inc (U.S.), Midland Bio Energy (U.K.), Nugreen Energy (U.K.), Royal Wood Shavings (Canada), RZ Pellets GmbH (Austria), Schwaiger Holzindustrie GmbH & Co. KG (Germany), Sinclar Group Forest Products (Canada), TANAC (Brazil), Valfei Products Inc. (Canada), Wilhelm Hoyer GmbH & Co. KG (Germany)among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global wood pellet market is segmented on the basis of grade, flavors, and application.
- On the basis of product, the global wood pellet market is segmented into standard wood pellet, utility wood pellet, and premium wood pellet
- On the basis of flavors, the global wood pellet market is segmented into traeger signature wood pellets, hickory wood pellets, pecan wood pellets, apple wood pellets, cherry wood pellets, and mesquite wood pellets
- On the basis of application, the global wood pellet market is segmented into residential heating, power plants, commercial heating, combined heat and power (CHP), and animal bedding
Major Players
Data Bridge Market Research recognizes the following companies as the major global wood pellet market players in global wood pellet market are AVPGroup (Austria), Drax Group plc (U.K.), Energex (U.S.), Enviva Inc. (U.S.), Erdenwerk Gregor Ziegler GmbH (Germany), German Pellets (Germany), Graanul Invest (Estonia), Holzwerke Weinzierl GmbH (Germany)
Market Developments
- In January 2023, Graanul Invest achieved a significant milestone by exporting the largest-ever wood pellet shipment of 50,042 tons to the U.S. This accomplishment underscores the company's commitment to meeting the growing demand for sustainable energy solutions and solidifies its position as a key player in the global wood pellet market
- In August 2022, Drax Group plc revealed its acquisition of a pellet plant in Princeton, British Columbia, Canada. This strategic move positions the company to enhance production capabilities, with the newly acquired facility expected to yield 90,000 tonnes of wood pellets annually. The acquisition aligns with Drax Group's commitment to support its presence in the global wood pellet market
- In April 2021, Enviva, a global renewable energy company focused on sustainable wood bioenergy, collaborated with Mitsui OSK Lines (MOL), a prominent international marine transport group. They signed a Memorandum of Understanding (MoU) to collaboratively develop and deploy an environmentally friendly bulk carrier, showcasing their commitment to advancing eco-conscious practices in the maritime industry
- In February 2021, the U.K. energy firm Drax Group PLC revealed its acquisition of Canada's Pinnacle Renewable Energy Inc. This strategic move expands Drax's portfolio to 17 pellet plants and development projects by incorporating Pinnacle's 11 sites. The acquisition enhances Drax's global presence and solidifies its position in the wood pellet production sector
- In December 2020, Enviva, a prominent global energy company specializing in sustainable wood bioenergy, collaborated with GoChain, a blockchain firm, to unveil the pilot program's early outcomes. The initiative aimed to strengthen traceability for sustainable biomass, showcasing a commitment to transparency and accountability in the sourcing and production of environmentally responsible bioenergy solutions
Regional Analysis
Geographically, the countries covered in the global wood pellet market report are U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Turkey, Russia, Netherlands, Belgium, Switzerland, rest of Europe, South Africa, Israel, Saudi Arabia, U.A.E, Egypt, rest of Middle East and Africa, China, Japan, South Korea, India, Australia & New Zealand, Thailand, Indonesia, Malaysia, Philippines, Singapore, rest of Asia-Pacific, Brazil, Argentina, and rest of South America
As per Data Bridge Market Research analysis:
Europe is the dominant region in the global wood pellet market during the forecast period 2023-2030
Europe dominates the global wood pellet market, fueled by the rising popularity of wood pellets as a prominent energy carrier. The region's strong market presence is evident, driven by increased adoption across diverse sectors. The shift towards wood pellets aligns with sustainability goals, reflecting a comprehensive approach to cleaner energy sources. This dominance underscores Europe's pivotal role in shaping the trajectory of the global wood pellet market, with sustained growth anticipated in the foreseeable future.
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