Wood Pellet Market Growth, Size, Trends, Share, Demand, Revenue, Challenges and Future Outlook
Wood Pellet Market Size- By Product, By Flavour, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Feb-2023 | Report ID: POAE2309 | Pages: 1 - 234 | Formats*: |
| Category : Power & Energy | |||
Global Wood Pellet Market Overview
According to SPER Market Research, the Global Wood Pellet Market is estimated to reach USD 15.17 billion by 2032 with a CAGR of 5.72%.
Compressed wood particles known as wood pellets are typically generated from agricultural waste, such as straw, and wood waste. They are dense, have a low moisture and ash content, and have a higher energy content than unprocessed biomass. Aside from that, wood pallets are frequently used in the household and commercial sectors for heating, grilling, and cooking because they are inexpensive and require little upkeep. Additionally, they are utilized in extensive biomass supply chains to assist in lowering the price of handling, storing, and shipping biomass.
The adoption and expansion of wood pellets are propositionally impacted by the popularity of wood pellets as an energy source. Additionally, a surge in global demand for sustainable fuel is anticipated to boost market expansion. Renewable or alternative feedstock, such plants, vegetables, or industrial waste, is used to make sustainable fuels. They include synthetic fuels (synfuels), such as ammonia or methanol, and biofuels like Hydrotreated Vegetable Oil (HVO), bioethanol, and others. With renewable diesel, these fuels are expected to be more expensive over time than alternatives, but they will aid in achieving aggressive decarbonization goals. A solid biomass fuel made from wood waste and agricultural by-products is known as wood pellets. However, one of the most significant sources of renewable energy is bioenergy fuels, which are also in high demand worldwide. Globally, the demand for fossil fuels is rising as a result of rising energy needs. Most of the energy utilized worldwide comes from fossil fuels, which are non-renewable resources like coal, natural gas, and petroleum that release their stored energy through combustion. Thus, the substitution of fossil fuels may present a chance for market expansion.
Impact of COVID-19 on the Global Wood Pellet Market
Since wood pellets were in great demand prior to the pandemic, COVID-19 has had a detrimental impact on the market. Due to a lack of raw materials, businesses including Drax Group plc, Enviva Inc., Energex, Sinclar Group Forest Products, and others had a very difficult time supplying wood pellets to both new and existing customers. This resulted from the government's stern regulations. Additionally, the market's availability of wood pellets was greatly impacted by the scarce supply of raw materials. Prices, exports, and output were steady, indicating the COVID-19 pandemic had a negligible effect on demand. However, some adverse effects, such access to transportation services and labor availability, were noted. The impact on wood pellet makers was lessened by the speedy recovery of the lumber industry, which also guaranteed a steady supply of feedstock.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Product, By Flavour, By Application, By End User |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | AVPGroup, Drax Biomass, Energex, Enviva LP, Farm Fuels, Graanul Invest, Groupe Savoie Inc., Highland Pellets LLC, I.C.S Lumber Inc., Lauzon, Pinnacle, Sinclar Group Forest Products, United Company, Vermont Wood Pellet Company, Wood Pellet Energy Ltd. |
Global Wood Pellet Market Segmentation:
1. By Product:
- Premium Wood Pellet
- Standard Wood Pellet
- Utility Wood Pellet
2. By Flavour:
- Apple Wood Pellets
- Cherry Wood Pellets
- Hickory Wood Pellets
- Mesquite Wood Pellets
- Pecan Wood Pellets
- Traeger Signature Wood Pellets
3. By Application:
- Animal Bedding
- Combined Heat and Power
- Commercial Heating
- Power Plants
- Residential Heating
4. By End User:
- Commercial
- Industrial
- Residential
5. By Region:
- Asia-Pacific
- Europe
- Middle East and Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Wood Pellet Market (FY’2019-FY’2032)
- Overview of Global Wood Pellet Market
- Segmentation of Global Wood Pellet Market By Product (Premium Wood Pellet, Standard Wood Pellet, Utility Wood Pellet)
- Segmentation of Global Wood Pellet Market By Flavour (Apple Wood Pellets, Cherry Wood Pellets, Hickory Wood Pellets, Mesquite Wood Pellets, Pecan Wood Pellets, Traeger Signature Wood Pellets)
- Segmentation of Global Wood Pellet Market By Application (Animal Bedding, Combined Heat and Power, Commercial Heating, Power Plants, Residential Heating)
- Segmentation of Global Wood Pellet Market By End User (Commercial, Industrial, Residential)
- Statistical Snap of Global Wood Pellet Market
- Global Wood Pellet Market Growth Analysis
- Problems and Challenges in Global Wood Pellet Market
- Global Wood Pellet Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Global Wood Pellet Market
- Details on Recent Investment in Global Wood Pellet Market
- Competitive Analysis of Global Wood Pellet Market
- Major Players in the Global Wood Pellet Market
- SWOT Analysis of Global Wood Pellet Market
- Global Wood Pellet Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s2.2 Market size estimation2.2.1 Top-down and Bottom-up approach2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Wood Pellet Market
5. Market variables and outlook
5.1. SWOT analysis5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats5.2. PESTEL analysis5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape5.3. PORTER’S five forces analysis5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Wood Pellet Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Wood Pellet Market
7. Global Wood Pellet Market, By Product, 2019-2032 (USD Million)
7.1 Premium Wood Pellet7.2 Standard Wood Pellet7.3 Utility Wood Pellet
8. Global Wood Pellet Market, By Flavour, 2019-2032 (USD Million)
8.1 Apple Wood Pellets8.2 Cherry Wood Pellets8.3 Hickory Wood Pellets8.4 Mesquite Wood Pellets8.5 Pecan Wood Pellets8.6 Traeger Signature Wood Pellets
9. Global Wood Pellet Market, By Application, 2019-2032 (USD Million)
9.1 Animal Bedding9.2 Combined Heat and Power9.3 Commercial Heating9.4 Power Plants9.5 Residential Heating
10. Global Wood Pellet Market, By End User, 2019-2032 (USD Million)
10.1 Commercial10.2 Industrial10.3 Residential
11. Global Wood Pellet Market, By Region, 2019-2032 (USD Million)
11.1 Global Wood Pellet Market and Market Share by Region (2019-2025)11.2 Global Wood Pellet Market and Market Share by Region (2026-2032)11.3 Asia-Pacific11.3.1 Australia11.3.2 China11.3.3 India11.3.4 Japan11.3.5 South Korea11.3.6 Rest of Asia-Pacific11.4 Europe11.4.1 France11.4.2 Germany11.4.3 Italy11.4.4 Spain11.4.5 United Kingdom11.4.6 Rest of Europe11.5 Middle East and Africa11.5.1 Kingdom of Saudi Arabia11.5.2 United Arab Emirates11.5.3 Rest of Middle East & Africa11.6 North America11.6.1 Canada11.6.2 Mexico11.6.3 United States11.7 Latin America11.7.1 Argentina11.7.2 Brazil11.7.3 Rest of Latin America
12. Company Profiles
12.1 AVPGroup12.1.1 Company details12.1.2 Financial outlook12.1.3 Product summary12.1.4 Recent developments12.2 Drax Biomass12.2.1 Company details12.2.2 Financial outlook12.2.3 Product summary12.2.4 Recent developments12.3 Energex12.3.1 Company details12.3.2 Financial outlook12.3.3 Product summary12.3.4 Recent developments12.4 Enviva LP12.4.1 Company details12.4.2 Financial outlook12.4.3 Product summary12.4.4 Recent developments12.5 Farm Fuels12.5.1 Company details12.5.2 Financial outlook12.5.3 Product summary12.5.4 Recent developments12.6 Graanul Invest12.6.1 Company details12.6.2 Financial outlook12.6.3 Product summary12.6.4 Recent developments12.7 Groupe Savoie Inc.12.7.1 Company details12.7.2 Financial outlook12.7.3 Product summary12.7.4 Recent developments12.8 Highland Pellets LLC12.8.1 Company details12.8.2 Financial outlook12.8.3 Product summary12.8.4 Recent developments12.9 I.C.S Lumber Inc.12.9.1 Company details12.9.2 Financial outlook12.9.3 Product summary12.9.4 Recent developments12.10 Lauzon12.10.1 Company details12.10.2 Financial outlook12.10.3 Product summary12.10.4 Recent developments12.11 Pinnacle12.11.1 Company details12.11.2 Financial outlook12.11.3 Product summary12.11.4 Recent developments12.12 Sinclar Group Forest Products12.12.1 Company details12.12.2 Financial outlook12.12.3 Product summary12.12.4 Recent developments12.13 United Company12.13.1 Company details12.13.2 Financial outlook12.13.3 Product summary12.13.4 Recent developments12.14 Vermont Wood Pellet Company12.14.1 Company details12.14.2 Financial outlook12.14.3 Product summary12.14.4 Recent developments12.15 Wood Pellet Energy Ltd.12.15.1 Company details12.15.2 Financial outlook12.15.3 Product summary12.15.4 Recent developments
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Wood Pellet Market is projected to reach USD 15.17 billion by 2032, growing at a CAGR of 5.72% during the forecast period.
Wood Pellet Market grew in market size from 2021. The Market is expected to reach USD 15.17 billion by 2032, at a CAGR of 5.72% during the forecast period.
Wood Pellet Market CAGR of 5.72% during the forecast period.
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Wood Pellet Market size is USD 15.17 billion from 2022 to 2032.
Wood Pellet Market Segment is Covered By Product, By Flavour, By Application, By End User.
The North America region is anticipated to have the highest market share in Wood Pellet Market.
The key players in the market include Companies Covered AVPGroup, Drax Biomass, Energex, Enviva LP, Farm Fuels, Graanul Invest, Groupe Savoie Inc., Highland Pellets LLC, I.C.S Lumber Inc., Lauzon, Pinnacle, Sinclar Group Forest Products, United Company, Vermont Wood Pellet Company, Wood Pellet Energy Ltd.
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