Transparency Market
Research, in a report titled “Wood Pellets Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 -
2023,” states that the value of the global wood
pellets market is projected to rise from US$6.2 bn in 2014 to
US$20 bn in 2023. If these values hold true, the report states that
the market will register a 14.10% CAGR therein.
The report, with the
help of the Porter’s five forces model, sheds light on the wood
pellets industry chain. It evaluates the bargaining power of buyers
and suppliers, the threat of substitutes and new entrants, and the
rivalry among key competitors. The report also analyzes the value
chain of the wood pellets market.The global wood pellets market is
fueled by the rise in financial incentives provided by various
federal agencies, the presence of favorable government agreements and
policies, and the low cost and long-term supply of wood pellets. The
fact that wood pellets offer an environmental advantage over
conventional fuels also presents lucrative opportunities for players
within the market. On the flip side, the release of flue gas during
the storage of wood pellets is anticipated to hamper the development
of the global market.
On the basis of
application, the wood pellets market is bifurcated into heating and
power plants. Accounting for a massive 70% share in 2014, the heating
application segment led the overall market in terms of revenue and is
anticipated to retain its lead throughout the forecast period. Wood
pellets are used for district, industrial, and residential heating.
In 2014, power plants used almost 800,000 tons of wood pellets.The
global wood pellets market is segmented on the basis of geography
into Europe, Asia Pacific, North America, Central and South America,
and the Middle East and Africa. Led by the UK, Europe held the
largest share in the overall wood pellets market in 2014. The market
in this region is fueled by the significant support from the
government in the form of incentives for the generation of green
energy. Strict emission norms have also propelled the North America
wood pellets market. The international trade of wood pellets is
strongly driven by the high energy density of wood pellets and their
easy availability in the developed markets of Europe and North
America.
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Enviva LP, Wood
Pellet Energy (UK) LTD., The Westervelt Company, Allance Pellet
Machinery, Rentech, Inc., F.E. Wood & Sons, Enito Singpellet Pte
Ltd, Pinnacle Renewable Energy Group, Andritz AG, German Pellets
GmbH, Drax Group plc, Georgia Biomass, LLC, and Energex are some of
the notable participants within the global wood pellets market. These
players are profiled in the research report based on attributes such
as company overview, business strategies, financial performance, and
recent developments.
Global Wood
Pellets Market, by Application
- Power Plants
- Heating
Global Wood
Pellets Market, by Region
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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