Ocean View, DE -- (SBWIRE) -- 04/20/2020 -- According to the new research report, Wood Pellet Market size was estimated at USD 8.5 billion in 2018 and is projected to surpass USD 19 billion by the year 2025.

Growing energy demand and the need to lower coal consumption is some of the key reasons propelling wood pellet market trends. Many countries have observed the rising adoption of energy sources and extensive imports of coal and petroleum-based fuel owing to the inefficient domestic sources. Reports estimate that in 2017, South Korea had been the eight largest consumer of energy sources globally.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/4387

As electricity demand escalated, supply depended largely on fossil fuels which contribute tremendously towards global warming. Since fossil fuels are limited in supply, countries are now adopting alternative sources of energy to minimize the deteriorating effects of climate change.

With the rising temperature and climate alterations, the Government of Canada has amended new regulations associated with greenhouse gases in order to replace coal-fired plants. Presently, coal-fired electricity depicts nearly 70% of the GHG emissions from electricity sector in the region.

This initiative will lower the carbon emission rate by nearly 12 million tons and will certainly surge the consumption from renewable sources by 2030. Favorable government policies and increasing efforts to curb the carbon emission will positively generate demand for renewable sources in Canada and accelerate wood pellet market size in the near future.

Growth Drivers are

- Rising demand for renewable energy in major European countries
- Policy changes in Canada related to coal-fired plants
- Superior product characteristics compared to fossil fuels
- Increasing energy demand in South Korea
- Ongoing trends related to outdoor kitchens in developed nations

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/4387

Growing interest in renewable energy for electricity has surged the demand for biomass in many countries including UK, Belgium, the Netherlands, South Korea, and Denmark. These countries have increasingly implemented sustainability criteria for using biomass to produce electricity.

Biomass is expected to play a significant role in achieving these criteria and also be used to generate bioelectricity. In addition, notable initiatives like Sustainable Biomass Program certification schemes will certainly increase the production of biomass globally.

The cost-effectiveness of biomass for power and heat generation in these regions has been the main driver of increased demand for biomass energy. Such advancements and steps taken to improve power management across the globe will fuel wood pellet industry outlook.

Standard grade wood pellets will witness substantial demand throughout the estimated timeline. This product is extensively deployed in heating applications for public buildings, residential & commercial structures, and small- and large-scale electrical utility plants.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/wood-pellet-market

The product holds moisture content (<10%) and ash content (<2%) as well as generates very fine particles like utility grade. Reports estimate that industrial heating segment will account for more than 30% of total wood pellet market share by 2025.

Evidently, the rising consumption of power in emerging economies and shifting consumer preferences towards renewable energy sources, along with mounting focus on bio-based products for electricity generation, will influence wood pellet industry share in the coming years.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com