Dublin, May 06, 2021 (GLOBE NEWSWIRE) -- The "Global Wood Pellet Market (by Applications, Grades & Region): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The global wood pellet market is forecasted to reach US$14.47 billion in 2024, witnessing growth at a CAGR of 12.02%, over the period 2020-2024.
The factors such as increasing consumption of wood pellets, mounting concerns regarding climate change, expanding urbanization, surging focus on renewable energy sources and price instability of crude oil are expected to drive the market.
A few notable trends include growing adoption for electricity generation, declining coal consumption and the growing trend of outdoor kitchens. However, the market would be challenged by high certification criteria and potential occupational health and safety concerns.
The global wood pellet market has been segmented on the basis of applications and grades. In the basis of application, the global wood pellet market can be bifurcated into heat (residential & commercial), power and Combined Heat and Power (CHP). According to the grade, the global wood pellet market can be categorized into Utility, Premium and Standard wood pellet. Whereas, in terms of volume, the market is further divided into production and consumption.
The fastest-growing regional market is Europe due to increasing consumption of wood pellets for power generation among various industries across developed regions like U.K., Italy, Germany, France, and Belgium, escalating cost of fossil fuels including natural gas and coal, growing demand for heating applications from both residential and industrial sectors and increasing replacement of coal-fired power plants with pellet-based plants.
Further, the sudden outbreak of COVID-19 is causing an adverse disruption in the business environment, affecting the wood pellet production and consumption, which is expected to negatively impact the growth of the global wood pellet market during the forecasted period.
Key Topics Covered:
1. Market Overview
1.1 Introduction
1.2 Characteristics of Wood Pellet
1.3 Production Process of Wood Pellets
1.4 Types of Wood Pellets
1.5 Applications of Wood Pellets
1.6 Benefits of Using Wood Pellets
2. Impact of COVID-19
2.1 Economic Impact
2.2 Decline in Industrial Production
2.3 Impact on Energy Demand
3. Global Market Analysis
3.1 Global Wood Pellet Market by Value
3.2 Global Wood Pellet Market Forecast by Value
3.3 Global Wood Pellet Market by Application
3.3.1 Global Heat (Residential and Commercial) Wood Pellet Market by Value
3.3.2 Global Heat (Residential and Commercial) Wood Pellet Market Forecast by Value
3.3.3 Global Power Wood Pellet Market by Value
3.3.4 Global Power Wood Pellet Market Forecast by Value
3.3.5 Global Combined Heat & Power (CHP) Wood Pellet Market by Value
3.3.6 Global Combined Heat & Power (CHP) Wood Pellet Market Forecast by Value
3.4 Global Wood Pellet Market by Grade
3.4.1 Global Utility Grade Wood Pellet Market by Value
3.4.2 Global Utility Grade Wood Pellet Market Forecast by Value
3.4.3 Global Premium Grade Wood Pellet Market by Value
3.4.4 Global Premium Grade Wood Pellet Market Forecast by Value
3.4.5 Global Standard Grade Wood Pellet Market by Value
3.4.6 Global Standard Grade Wood Pellet Market Forecast by Value
3.5 Global Wood Pellet Market by Region
3.6 Global Wood Pellet Market by Production Volume
3.7 Global Wood Pellet Market Forecast by Production Volume
3.8 Global Wood Pellet Production Volume by Region
3.9 Global Wood Pellet Market by Consumption Volume
3.10 Global Wood Pellet Market Forecast by Consumption Volume
3.11 Global Wood Pellet Consumption Volume by Application
3.11.1 Global Heat (Residential and Commercial) Wood Pellet Market by Consumption Volume
3.11.2 Global Heat (Residential and Commercial) Wood Pellet Market Forecast by Consumption Volume
3.11.3 Global Power Wood Pellet Market by Consumption Volume
3.11.4 Global Power Wood Pellet Market Forecast by Consumption Volume
3.11.5 Global Combined Heat & Power (CHP) Wood Pellet Market by Consumption Volume
3.11.6 Global Combined Heat & Power (CHP) Wood Pellet Market Forecast by Consumption Volume
3.12 Global Wood Pellet Consumption Volume by Region
4. Regional Market Analysis
4.1 Europe
4.1.1 Europe Wood Pellet Market by Value
4.1.2 Europe Wood Pellet Market Forecast by Value
4.1.3 Europe Wood Pellet Market by Production Volume
4.1.4 Europe Wood Pellet Market Forecast by Production Volume
4.1.5 Europe Wood Pellet Market by Consumption Volume
4.1.6 Europe Wood Pellet Market Forecast by Consumption Volume
4.2 Americas
4.3 Asia Pacific
4.4 RoW
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Increasing Consumption of Wood Pellets
5.1.2 Mounting Concerns Regarding Climate Change
5.1.3 Expanding Urbanization
5.1.4 Surging Focus on Renewable Energy Sources
5.1.5 Price Instability of Crude Oil
5.2 Key Trends and Developments
5.2.1 Growing Adoption for Electricity Generation
5.2.2 Declining Coal Consumption
5.2.3 Growing Trend of Outdoor Kitchens
5.3 Challenges
5.3.1 Higher Certification Criteria
5.3.2 Potential Occupational Health and Safety Concerns
6. Competitive Landscape
6.1 Global Market
6.1.1 Revenue Comparison of Key Players
6.1.2 Market Capitalization Comparison of Key Players
6.1.3 Global Industrial Wood Pellet Market Share by Key Players
7. Company Profiles
7.1 Drax Group Plc
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategies
7.2 Canfor Corporation
7.3 Energy Queensland Limited (Energex)
7.4 Enviva Partners LP
7.5 Pinnacle Renewable Energy Inc.
7.6 AS Graanul Invest
For more information about this report visit https://www.researchandmarkets.com/r/30ut3h