The
global wood pellets market is expected to expand at a 14.10% CAGR
during the period from 2015 to 2023. The report, titled ‘Wood
Pellets Market, by Application - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2015 - 2023’, states that the
global wood pellets market was valued at US$6.2 bn in 2014 and is
predicted to be valued at US$20 bn by 2023. Increase in use of wood
pellets in power plants and heating plants will enable rapid
development of the global wood pellets market during the forecast
period.
In-depth
research report on Wood Pellets Market with Full TOC at :
http://www.transparencymarketresearch.com/wood-pellet-market.html
The
global wood pellets market is segmented on the basis of geography and
application. Based on geography, the global wood pellets market is
divided into regions such as Asia Pacific, Europe, North America, the
Middle East and Africa, and Central and South America. Over the past
few years, there has been an increase in the production of wood
pellets owing to the legislation of strict emission norms in regions
such as North America and Europe. Easy availability and high energy
density promotes heavy international trade of wood pellets across the
globe.
Prominent
companies in the global power generation scenario are taking efforts
to increase the usage of renewable technologies for power and heat
generation. This is expected to drive the global wood pellets market
during the forecast period. It is predicted that there will be
significant growth of the wood pellets market in some areas in the
European region in the coming few years. Some of the leading players
in the global wood pellets market are Andritz AG, Enito Singpellet
Pte Ltd, F. E. Wood and Sons, Georgia Biomass, LLC, The Westervelt
Company, Rentech, Inc., Drax Group plc, Enviva LP, Germen Pellets
GmbH, Allance Pellet Machinery, Pinnacle Renewable Energy Group, and
Wood Pellet Energy (UK) Ltd.
Wood
pellets, as a source of energy, provide various economic,
environmental, and employment benefits. By application, the global
wood pellets market is divided into heating and power plants. The
heating application segment comprises residential and district
heating. Primarily, wood pellets are employed for heat and power
generation. Power plants consumed nearly 800,000 tons of wood pellets
in 2014. Wood pellets for industrial and district heating are traded
globally, with most of the exports coming from countries such as
South Africa, Australia, the U.S., and Canada. Wood pellets that are
meant for residential heating are generally traded regionally.
Prominent players in the global wood pellets market introduce wood
pellets as per residential and industrial requirements.
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The
global wood pellets market was dominated by the heating application
segment in 2014, with a 70% market share. The segment will continue
to dominate the global wood pellets market during the period between
2015 and 2023. Factors such as renewable portfolio standards, green
certificate trading, feed-in tariffs, and capital grants will enable
rapid growth of the global wood pellets market during the forecast
period. Efforts taken by public institutions and wood pellet
manufacturing firms to remove growth barriers will also boost the
global wood pellets market.
Key
segments of The Global Wood Pellets Market
Global
Wood Pellets Market: Application Segment Analysis
Power
Plants
Heating
Global
Wood Pellets Market: Regional Segment Analysis
North
America
U.S.
Canada
Europe
U.K.
Italy
Sweden
Denmark
Germany
Rest
of Europe
Asia
Pacific
China
Japan
South
Korea
Rest
of Asia Pacific
Middle
East and Africa (MEA)
South
Africa
Rest
of MEA
Central
and South America (CSA)
Brazil
Rest
of CSA
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