Wood pellets are compressed wood particles made primarily from wood waste and agricultural waste such as straw. When compared to unprocessed biomass, they are dense, have low moisture and ash content, and have a high energy content. Apart from that, wood pallets find widespread use in the residential and commercial sectors for cooking, grilling, and supplying heat due to their low cost and low maintenance. They are also used in large-scale biomass supply chains to help reduce costs in biomass storage, handling, and transportation.

Wood pellets are compressed wood particles made primarily from wood waste and agricultural waste such as straw. When compared to unprocessed biomass, they are dense, have low moisture and ash content, and have a high energy content. Apart from that, wood pallets find widespread use in the residential and commercial sectors for cooking, grilling, and supplying heat due to their low cost and low maintenance. They are also used in large-scale biomass supply chains to help reduce costs in biomass storage, handling, and transportation.

An increase in the popularity of wood pellets as an energy carrier has a propositional impact on the growth and adoption of wood pellets. Also, a rise in the demand for sustainable fuel across the globe is expected to drive market growth. 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.

View Detailed Report : https://www.databridgemarketresearch.com/reports/global-wood-pellet-market

OPPORTUNITY

  • Need for the Replacement of Fossil Fuels

Globally, the requirement for fossil fuels is increasing due to increasing energy requirements. Fossil fuels are non-renewable resources where the stored energy is released through combustion, such as coal, natural gas, and petroleum, and they account for almost 80% of the energy used worldwide. The replacement of fossil fuels may thus act as an opportunity for market growth.

Global Wood Pellet Market Scope

The global wood pellet market is segmented into three notable segments based on grade, flavors, and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Grade

  • Standard Wood Pellet
  • Utility Wood Pellet
  • Premium Wood Pellet

Based on product, the market is segmented into 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
  • Mesquite Wood Pellets

Based on flavors, the market is segmented into 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)
  • Animal Bedding

Based on application, the market is segmented into residential heating, power plants, commercial heating, combined heat and power (CHP), and animal bedding.

Recent Developments

  • In January 2023, Graanul Invest announced that the company has exported the largest wood pellet shipment of 50,042 tons in the U.S.
  • In August 2022, Drax Group plc announced the acquisition of a pellet plant in Princeton, British Columbia, Canada. This acquisition will help the company to produce 90,000 tones of wood pellets a year.

Global Wood Pellet Market Share Analysis

The global wood pellet market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, solution launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the global wood pellet market are AVPGroup, Drax Group plc, Energex, Enviva Inc., Erdenwerk Gregor Ziegler GmbH, German Pellets, Graanul Invest, Holzwerke Weinzierl GmbH, Land Energy, Lignetics, Mallard Creek Inc, Midland Bio Energy, Nugreen Energy, Royal Wood Shavings, RZ Pellets GmbH, Schwaiger Holzindustrie GmbH & Co. KG, Sinclar Group Forest Products, TANAC, Valfei Products Inc., and Wilhelm Hoyer GmbH & Co. KG among others.

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