Claim your 30% discount on Global Market Reports with code ONLINE30. Limited time only.

Claim your 30% discount on Global Market Reports with code ONLINE30. Limited time only.

What Is the Estimated Industry Valuation for the Wood Pellets Sector?

The size of the wood pellets market has seen swift expansion in the past few years. It is projected to increase from $11.96 billion in 2024 to $13.32 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.3%.

The market for wood pellets is projected to experience swift expansion in the coming years, with an anticipated growth to $21.12 billion in 2029 and a compound annual growth rate (CAGR) of 12.2%. Factors contributing to this growth during the forecast period include, carbon pricing and emissions reduction initiatives, opportunities in international trade and export, increased residential use, a surge in the need for renewable energy, and an escalating power generation sector. Noteworthy trends for this period are improved pellet production technology, sustainable sourcing methods, adherence to pellet certification and standards, research and development initiatives, and strategic partnerships and collaborations.

Download The Free Sample Report Here:

https://www.thebusinessresearchcompany.com/sample.aspx?id=7834&type=smp

What Forces Are Driving The Growth Of The Wood Pellets Market?

The exponential growth of the wood pellets market is anticipated to be fueled by the increasing worldwide demand for renewable energy. Renewable energy refers to the energy derived from natural sources that regenerate at a pace faster than their consumption. Wood pellets, created from a myriad of wood waste products, are an example of a renewable energy source. For instance, the Energy Information Administration, a government agency in the US, reported in June 2023 that there was an increase in renewable energy consumption from 12.1 quads in 2021 to 13.2 quads in 2022 in the United States. Thus, the burgeoning worldwide demand for renewable energy is what’s driving the wood pellets market’s expansion.

How Is The Wood Pellets Industry Segmented Across Key Parameters?

The wood pellets market covered in this report is segmented –

1) By Feedstock: Forest And Wood Waste Resources, Agricultural Residue and Waste, Food Waste, Virgin Lumber, Energy Crops

2) By Production Process: Sawdust Preparation, Screening, Hammering, Pelletizing, Cooling And Packaging

3) By Application: Heating, Power Generation, Combined Heat And Power (CHP)

4) By End-User: Residential, Commercial, Industrial

Subsegments:

1) By Forest And Wood Waste Resources: Sawdust, Wood Chips, Bark

2) By Agricultural Residue And Waste: Straw, Corn Stover, Rice Husk

3) By Food Waste: Food Processing, Organic Waste

4) By Virgin Lumber: Logs, Wood Shavings

5) By Energy Crops: Miscanthus, Switchgrass, Short Rotation Woody Crops

What Notable Trends Are Shaping The Direction Of The Wood Pellets Market?

Key corporations in the wood pellet market, like Golden State Natural Resources, are concentrating on the creation of advanced solutions including industrial pellet plants, to increase productivity, minimize expenses and boost sustainability through superior sourcing of raw materials. The value of pellets, made from biomass materials by industrial pellet plants, lies in their eco-friendly properties and high energy density. These factors have made them a favorite in the renewable energy sector and sustainable practices, due to their easy handling nature. Specifically, in December 2022, two industrial wood pellet projects were initiated by the US non-profit, Golden State Natural Resources. The Tuolumne project is expected to yield 300,000 tons of wood pellets every year and the Lassen site targets a production capacity of 700,000 tons annually. They all prioritize using sustainably sourced biomass for an environment-friendly production process. The wood pellets produced will be exported to biobased fuel users for energy consumption via rail to ports. An Environmental Impact Report (EIR) will be drafted following public scrutiny, to evaluate the potential environmental effect of this venture.

Which Companies Currently Dominate The Competitive Landscape In The Wood Pellets Industry?

Major companies operating in the wood pellets market include Enviva Inc., Energex American Inc., Graanul Invest AS, Pinnacle Renewable Energy, Fram Renewable Fuels LLC., Segezha-Group, Lignetics Inc., Asia Biomass Public Company Limited, Sinclar Group Forest Products, Wood Pellet Energy UK Ltd., Highland Pellets LLC, Groupe Savoie Inc, Drax Group plc, The Westervelt Company, Forest Energy Corporation, New England Wood Pellet, Pacific BioEnergy Corporation, Maine Woods Pellet Company, Bear Mountain Forest Products, Michigan Wood Pellet Fuel LLC., Somerset Pellet Fuel, Trae Fuels Ltd., Vermont Wood Pellet Company, Appalachian Wood Pellets

Get The Full Report Here:

https://www.thebusinessresearchcompany.com/report/wood-pellets-global-market-report

Which Geographic Regions Are Driving Demand In The Wood Pellets Market?

Europe was the largest region in the wood pellets market in 2024. Asia-Pacific is expected to be the fastest growing region in the wood pellets market report during the forecast period. The regions covered in the wood pellets market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Request For A Customized Report:

https://www.thebusinessresearchcompany.com/customise?id=7834&type=smp

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 310-496-7795

Asia +44 7882 955267 & +91 8897263534

Europe +44 7882 955267

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model