NEW YORK, April 5, 2022 /PRNewswire/ — The wood pellets market size is expected to grow by USD 4.13 bn from 2021 to 2026, according to Technavio. The growth momentum of the market will accelerate at a CAGR of 7.55% during the forecast period. The wood pellets market is segmented by end-user (residential and commercial) and geography (Europe, North America, APAC, the Middle East and Africa, and South America).
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The wood pellets market covers the following areas:
Wood Pellets Market Sizing
Wood Pellets Market Forecast
Wood Pellets Market Analysis
Drivers and Challenges
The stringent regulations on CO2 emissions are driving the growth of the global wood pellets market. Government bodies across the world are focusing on reducing GHG emissions. The foothold of coal-powered electricity generation in the global energy mix is uncertain amid international agreements such as the Kyoto Protocol. Agencies such as EPA, the Intergovernmental Panel on Climate Change, and the Climate Change Act of 2008 have targets to reduce GHG emissions. These regulations encourage the use of alternatives such as bioenergy. Biomass, a carbon-neutral energy source, helps create a low-pollution environment and contributes to the targets set by governments. Such factors will drive the growth of the wood pellets market during the forecast period.
The decline in crude oil prices is challenging the global wood pellets market growth. Wood pellets are cost-effective because they cost lower than heating oil and decrease the ecological footprint. However, crude oil prices have declined steadily since 2015. This decline has a major impact on heating oil prices as crude oil accounts for more than half of the price component of heating oil. In July 2014, crude oil traded at over USD 110/bbl. However, due to an imbalance in the supply and demand for crude oil, the prices of oil decreased to as low as USD 26/bbl in January 2016. In addition, in April 2018, crude oil was being traded at USD 68/bbl and reduced to USD 17.46/bbl in April 2020. Such factors are expected to challenge the wood pellets market growth during the forecast period.
Market Segmentation Analysis
The residential segment will have significant market share growth in the wood pellets market during the forecast period. The huge bulk density of wood pellets is advantageous in areas where space is limited. This will increase the use of wood pellets in urban areas, which will support the wood pellets market growth through this segment in the coming years.
Companies Mentioned
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Wood Pellets Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.55% |
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Market growth 2022-2026 |
USD 4.13 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.98 |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 74% |
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Key consumer countries |
US, UK, Italy, Denmark, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Binderholz GmbH, Bio Eneco, BioPower Sustainable Energy Corp., ECARE, Energy Pellets of America LLC, Enviva Inc., Highland Pellets LLC, Land Energy Girvan Ltd., Lignetics Inc., Pfeifer Holding GmbH, PREMIUM PELLETS s.r.o, PRODESA, proPellets Austria, Schellinger KG, SNOW ENTITIES Inc., VIRIDIS ENERGY INC., AS Graanul Invest, and Drax Group Plc |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
Read More:Wood Pellets Market Size to Grow by USD 4.13 billion | Stringent Regulations on CO2 Emissions to Drive Growth
2022-04-06 00:04:58
