Product ID: SQMIG10B2032
Global Industrial Wood Pellet Market Size, Share, Growth Analysis, By Feedstock(forest waste, and agricultural waste), By Application(the industrial wood pellet market is segmented into power generation, and combined heat & power (CHP) ) - Industry Forecast 2024-2031
Report ID:
SQMIG10B2032 |
Region:
Global |
Published Date: April, 2024
Pages:
178
|
Tables:
61 |
Figures:
75
Global Industrial Wood Pellet Market Insights
Industrial Wood Pellet Market size was valued at USD 8.68 billion in 2022 and is poised to grow from USD 9.16 billion in 2023 to USD 14.05 billion by 2031, growing at a CAGR of 5.50% during the forecast period (2024-2031).
Wood pellets are the most common type of pellet fuel and are generally made from compacted sawdust and related industrial wastes from the manufacture of wood products, milling of lumber, and furniture, and construction. According to the World Bioenergy Association, pellets may substitute coal in power generation facilities. Industrial wood pellets are energy dense, and low in moisture, used in Biomass dedicated energy plants, combined heat and power plants, and others. Moreover, their high energy content, and density combine for producing efficient, portable, and reliable forms of low carbon combustion.
Industrial Wood Pellet market may grow due to the stringent government initiatives which are promoting biofuels for energy production. Also, the rising awareness towards environmental safety coupled with increased need for clean energy are driving the market growth during the forecast period.
US Industrial Wood Pellet Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Industrial Wood Pellet Market Report Snapshots
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