Market Research Report
Global Wood Pellets Market Size study, by Application (Power Plants, Residential Heating, Commercial Heating, Combined Heat and Power (CHP) Heating) and Regional Forecasts 2019-2026
|Published by||Bizwit Research & Consulting LLP||Product code||918543|
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|Global Wood Pellets Market Size study, by Application (Power Plants, Residential Heating, Commercial Heating, Combined Heat and Power (CHP) Heating) and Regional Forecasts 2019-2026|
|Published: April 1, 2019||Content info:||
Global Wood Pellets Market is valued approximately at USD 8.37 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 9.1% over the forecast period 2019-2026. A wood pellet is a solid fuel that is manufactured by crushing and densifying waste timber like sawdust, forestry residues, industrial by- products such as old paper and forestry wastes. Wood pellets are considered as a feasible alternative to fossil fuels like coal or natural gas. These pellets are cylindrical in shape and have a length of 1-3 cm and 6-12 mm diameter. Wood pellets are dry, so it can be easily put in storagestored. Furthermore, the hydraulic rate of wood pellets is durable, when compared with any other biomass fuels. Also, wood pellets have a high energy density, that allows ing them to be transferred tofor a longer distances. Rising demand for renewable energy along with government policies and global agreements in support of renewable sources of energy are the major factors responsible for high CAGR of the market over the forecast period. For instance: Globally, the consumption of renewable energy was around 16,893 TWh in 2016, an increase from 16,623 TWh in 2015 and 16,510 TWh in 2014, as per Our World in Data organization. Thus, the consumption of renewable energy is on surging trend all over the world thereby, it has surged the adoption for wood pellets around the world. Moreover, the wood pellets also helps in reduction of the carbon emissions as well as greenhouse gas (GHG) emission, which is also to augment their usage; thereby boosting market growth. However, health issues associated with wood pellets during the manufacturing process, such as allergic reactions, asthma and lung cancer, irritation to skin, and nasal cancer areis the major factors anticipated to limiting the growth of global Wood Pellets market during the forecast period.
The regional analysis of global wWood pPellets market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region in terms of revenue and market share owing to increasing replacement of traditional burners for improving automatic feed-in and comfort along with increasing consumption of wood pellets in the region. For instance, according to Pellet Fuels Institute, there are nearly 1,000,000 homes in the U.S. using wood pellets for heat, in freestanding stoves, fireplace inserts, furnaces, and boilers. However, Asia-Pacific is expected to exhibit at high growth rate / CAGR over the forecast period of 2019-2026 owing to rapid growth of the renewable energy sector in China coupled with the rising number of power plants across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below: