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Increasing global demand for renewable energy are expected to drive innovation in wood pellets manufacturing, thus driving the market during the forecast period.

The global wood pellets market is expected to grow from $9.55 billion in 2022 to $10.7 billion in 2023 at a compound annual growth rate (CAGR) of 12.0%. The wood pellets market size is expected to grow to $15.99 billion in 2027 at a CAGR of 10.6%.

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Global Wood Pellets Market Segments Include:

• By Feedstock: Forest And Wood Waste Resources, Agricultural Residue and Waste, Food Waste, Virgin Lumber, Energy Crops
• By Production Process: Sawdust Preparation, Screening, Hammering, Pelletizing, Cooling And Packaging
• By Application: Heating, Power Generation, Combined Heat And Power (CHP)
• By End-User: Residential, Commercial, Industrial
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global wood pellets market in 2021.

Major Market Players in the wood pellets market include Enviva Inc., Energex American Inc., Graanul Invest, Pinnacle Renewable Energy, Fram Fuels, Segezha-Group, Lignetics Inc., Asia Biomass Public Company Limited.

Technological advancements have emerged as the key trend gaining popularity in the wood pellets market. Major companies operating in the market are developing innovative wood pellet boilers such as the boilers that that produce minimum emissions of particulate matter to sustain their position. For instance, in September 2020, ÖkoFEN Forschungs- und Entwicklungs Ges.m.b.H., an Austria-based manufacturer of wood pellet boilers, launched wood pellet boilers with ZeroFlame combustion technology. With the help of the filter-free ZeroFlame combustion technology, particulate matter (PM) emissions are reduced to an absolute minimum. This technology combines special-guided airflow and air enrichment with a unique combustion chamber design to produce a unique effect. The flame almost wholly disappears during combustion, reducing particulate matter (PM) to a bare minimum. Compared to conventional pellet boiler systems currently available, PM emissions are reduced by up to 95%, potentially significantly improving local air quality.

The Wood Pellets Global Market Report 2023  provides a wood pellets market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The wood pellets market forecast analyzes wood pellets market size, wood pellets market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Wood pellets are finely powdered dried biofuel processed through a pellet dye process at high temperatures and pressure. It is typically burned to generate heat or process steam and electricity. These wood pellets are made from compressed sawdust, a by-product of other industries.

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