Latest News- Wood Pellets Market: Residential is expected to lead the End-user segment during 2025-2029

The Wood Pellets Market is being driven by Stringent regulations on CO2 emissions

The Wood Pellets Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 7162.2 million. In the global energy landscape, coal has historically held a substantial market share for power generation. However, the shift towards cleaner fuels and renewable energy sources is gaining momentum, posing a significant challenge to coal's dominance. China, a leading coal-producing nation, recently announced the cancellation of 103 coal power projects, representing a cumulative capacity loss of approximately 120 GW. This decision, encompassing both operational and proposed projects, underscores the growing preference for renewable energy alternatives. As power demand remains constant, the decline in coal power generation is expected to accelerate the adoption of substitute energy sources, such as wood pellets, to meet the global energy needs for power and heat production. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Residential
  • Commercial and industrial
• Application
  • Power generation
  • Combined heat and power
  • Heating
• Geography
  • Europe
    • Germany
    • UK
    • Italy
    • Denmark
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Stringent regulations on CO2 emissions
• Increasing use of bioenergy
• Regulations for using bioenergy and modern heating systems

However, the market also witnesses some limitations, which are as follows:

• Installation requirement for biomass boiler and feedstock storage
• Change in energy mix
• Availability of alternative fuel/energy sources

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Market Scope in Wood Pellets Market Research Report

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Research Analysis Overview

The Wood Pellets Market encompasses various aspects, including pellet production methods, adherence to wood pellet standards, biomass preprocessing, fuel pellet handling, combustion technology, pellet transportation, storage techniques, and quality assessment. Emphasis is placed on emissions reduction, energy efficiency, process control, and supply chain management. Environmental impact, economic viability, waste reduction, and renewable energy source are also crucial factors. Sustainable biomass, thermal conversion, energy security, heating applications, residential applications, air quality impacts, land use change, material science, chemical composition, and emissions reduction techniques are integral parts of this market.

Market Research Overview

The global forest products market, encompassing sectors such as industrial roundwood, sawnwood, wood-based panels, fiber furnish, wood fuel, charcoal, and pellets, is projected to experience significant growth. According to Technavio, market expansion will be influenced by the rising adoption of wood pellets in various industries. The superior characteristics of pellets, including high pellet density, low moisture content, and reduced ash content, make them an attractive alternative fuel source. Furthermore, the durability of pellets, ascertained through rigorous testing, ensures consistent energy density. The food and beverage sector, in particular, is embracing wooden pallets and boxes due to their cost-effectiveness, reusability, and natural bacteria absorption properties. This trend is set to boost market growth in the coming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/