Harrisburg, NC -- (SBWIRE) -- 10/28/2020 -- Global Wood Pellet Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.
This Wood Pellet Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.
The wood pellet market is expected to grow at a CAGR of more than 5.5% during the forecast period.
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The prominent players in the Global Wood Pellet Market:
Enviva Partners LP, AS Graanul Invest, Drax Group Plc, Pinnacle Renewable Energy Inc, AN Viet Phat Energy Co. Ltd, International Woodfuels LLC, Energex American Inc. and Others.
Key Market Trends: -
Wood Pellets for Power Generation Application to Dominate the Market
- Pellets are a solid biomass fuel, primarily produce from wood residues and agricultural by-products like straw. Specific advantages of pellets as compared to unprocessed biomass include standardized properties, high energy content, and high density.
- Electricity generation is one of the primary applications of wood pellets. During 2019, power generation installed capacity from solid biomass including wood pellets is estimated to be around 67.62 megawatts. Moreover, with the active participation of various countries in decarbonization, it is expected to have productive uses of wood pellets for power production during the forecast period.
- Drax Power Station in the United Kingdom is one of the prominent wood pellets power project, that generates nearly 3.9 gigawatts. The power generated is produced by using 75% wood pellets and rest by using coal.
- Combined heat and power (CHP) plant in Ueno, Japan, is one of the prominent wood pellets project in Asia, commissioned in 2015. The plant produces nearly 165 kilowatts of electricity.
- Ontario Power Plant in Canada has evaluated wood pellets uses in its power plant and is expected to utilize it in all units in the near future. With the increase in biomass feedstock from agriculture and forestry, it is expected that electricity generation from wood pellets is expected to get increased during the forecast period.
Europe to Dominate the Market
- Europe was the largest wood pellet producer and consumer of wood pellets during 2018. Out of 35.4 million tones (MT) wood pellets produced in 2018, nearly 19.4MT was produced in Europe.
- Regarding consumption, 35MT wood pellets were consumed globally in 2018, of which 26.2 MT of wood pellets were consumed in Europe.
- The demand for wood pellets in Europe majorly comes for the residential heating facilities, commercial heating facilities, and CHP plants. With a decrease in atmospheric temperature, woods pellets consumption, especially in residential and commercial spaces increases.
- During 2018, the demand for wood pellets increased by 2.1MT in comparison to the year 2017. Nearly 65% of the demand was generated from residential spaces, 23% was generated from commercial spaces, and the rest 12% was generated from CHP plants.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Wood Pellet Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Wood Pellet Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Browse in-depth and report summary TOC on "Wood Pellet Market":
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Finally, the Wood Pellet market report offers a complete and detailed study of Global Wood Pellet market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.
Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.