Biomass Pellets Market Overview
Stellar Market Research, an Biomass Pellets business research firm has published a report on the “Biomass Pellets Market”. As per the “Biomass Pellets report,” The Biomass Pellets was valued at USD 22.51 billion in 2023. Global Biomass Pellets Market size is estimated to grow at a CAGR of 11% over the forecast period.
Biomass pellets are a type of biofuel produced from organic materials like wood waste and sawdust. Biomass, which refers to organic materials capable of being utilized as an energy source, serves as the base for these pellets. Biomass pellets offer a clean-burning, renewable, and cost-effective fuel solution that reduces pollutant emissions while enhancing the thermal efficiency of biomass waste.
The Biomass Pellets market is segmented by Source, Application, and Geography. Under the Source category, the market is divided into Wood Sawdust, Industrial Waste (including Crop Stalk, Rice Husk, Cotton Stalk, Coffee Husk, Alfalfa Straw, and more), Energy Crops, Agriculture Residues (like branches, bark, and leaves), and Others. Applications for biomass pellets span Building Heating (industrial, commercial, and residential), Power Generation (power plants, wind & turbines), Animal Bedding, and more. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa, with market sizing and forecasts provided in USD billion.
For in-depth information on this study, visit the following link:https://www.stellarmr.com/report/req_sample/Biomass-Pellets-Market/706
Market Forecast and Key Dynamics:
Biomass pellets are made from various organic materials such as treetops, coconut shells, palm kernel shells, and fruit bunches. As fossil fuel reserves dwindle and regulations on carbon emissions tighten, biomass pellets emerge as a critical long-term energy source. Coal-fired boilers increasingly use biomass pellets to reduce emissions, thanks to their advantages like ease of storage, low carbon footprint, and efficient combustion. End-users are gravitating towards biomass pellets to not only cut emissions but also improve their financial outlook.
Agricultural residues such as husks and straws also serve as renewable energy sources, generating both heat and electricity. Consequently, there is a growing interest among new companies focusing on energy production from renewable sources. Biomass pellets are not only essential for power generation but are also a leading source of thermal energy.
Biomass Pellets Market Regional Insights
Europe led the biomass pellets market in 2023, capturing a 30% share. In Europe, wood pellets are widely used in combined heat and power (CHP) plants and dedicated power plants for electricity generation. Within the region, biomass pellets are primarily used for residential heating (65%), commercial heating (23%), and CHP heat production (12%). The Asia-Pacific region is expected to witness the fastest growth in the biomass pellets market during the forecast period, owing to the increased use of biomass pellets in various industrial heating applications.
Biomass Pellets Market Segmentation
Biomass Pellets Market By Source, the wood sawdust segment led the biomass pellets market in 2023. Wood sawdust is increasingly valuable to businesses as a low-cost method for recycling waste materials. It’s a raw material derived from wood chips or scrap used to produce solid fuel with low moisture content. Wood sawdust is among the most affordable renewable energy sources, with biomass pellets offering a promising solution to rising pollution levels. Wood sawdust can be burned to create steam, which in turn generates electricity and provides heat, thereby driving the biomass pellets market.
Agricultural waste, including straw and husks, is another significant source of biomass pellets. These agricultural residues, rich in lignin and cellulose, play a key role in binding the pellets together. This renewable and sustainable resource can produce energy without causing environmental harm.
Biomass Pellets Market by Application: The building heating segment dominated the biomass pellets market in 2023, driven by growing awareness of renewable energy options for heating in residential, commercial, and industrial applications. This segment is projected to grow at a CAGR of 9.2% from 2024 to 2030. Bio-pellets offer a viable alternative to coal or fossil fuels in industrial heating systems, reducing energy costs. Biomass heating fuels include cordwood, agriculture residues, corn kernels, cherry pits, wood chips, and compressed wood pellets. The global use of biomass pellets for heating increased from 14.3 million in 2020 to 15.9 million in 2021 for residential heating, and from 5.5 million to 6.1 million for commercial heating. This trend indicates steady growth in the demand for biomass pellets in the building heating segment.
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Biomass Pellets Market Key Players
Drax Group (UK)
Enviva Partners (US)
German Pellets GmbH (Germany)
Pinnacle Renewable Energy (Canada)
Abellon CleanEnergy Limited (India)
Fram Fuels (US)
Ecostan (India)
AS Granul Invest (Estonia)
Magnetics (USA)
Jaypee Green Fuels (India)
Westervelt Company (US)
New England Wood Pellet( US)
Key questions answered in the Biomass Pellets Market are:
- What is Biomass Pellets?
- What was the Biomass Pellets market size in 2021?
- What is the growth rate of the Biomass Pellets Market?
- Which are the factors expected to drive the Biomass Pellets market growth?
- What are the different segments of the Biomass Pellets Market?
- What growth strategies are the players considering to increase their presence in Biomass Pellets?
- What are the upcoming industry applications and trends for the Biomass Pellets Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Biomass Pellets Market?
- What segments are covered in the Biomass Pellets Market?
- Who are the leading companies and what are their portfolios in Biomass Pellets Market?
- What segments are covered in the Biomass Pellets Market?
- Who are the key players in the Biomass Pellets market?
To access more details regarding this research, visit the following webpage:https://www.stellarmr.com/report/Biomass-Pellets-Market/706
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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