Wood Pellet Market Size, Outlook, share, growth and forecast
The wood pellet market was valued at US$ 9,630.99 million in 2020 and is projected to reach US$ 23,892.77 million by 2028; it is expected to grow at a CAGR of 12.1% from 2021 to 2028.
Wood pellets are produced using finely ground wood bark; they are majorly used as fuel. These are extensively used in residential houses for efficient burning in smaller stoves. Wood pellets are produced from numerous wood waste products and are considered a source of renewable energy. Currently, along with residential heating, there is increased use of wood pellets for power generation across the globe. These are largely utilized globally as a fuel, which is expected to increase the demand for wood pellets in the coming years. Europe is the leading region for the consumption of wood pellets for power generation. Moreover, North America is the significant exporter of wood pellets, which is expected to increase the production facilities of wood pellets in the coming years.
In 2020, Europe contributed to the largest share in the global market. An annual report filed with the USDA Foreign Agricultural Service’s Global Agriculture Information Network represents that the wood pellet market in Europe has been relatively unaffected by the COVID-19 pandemic. As per the report, the region consumed ~29 million metric tons of wood pellets in 2018, which makes it the world’s largest pellet market. Wood pellets are used in residential applications for heating purposes and industrial heat and power generation. The report further states that the region contributes ~30% of world pellet production currently. However, it accounts for the major consumption of wood pellets across the globe. Italy, Germany, and other such countries are considered as the major growth markets for consuming wood pellets in residential heating applications. The UK is one of the major consumers of wood pellets, followed by Italy and Denmark.
The global wood pellets market has faced many challenges from the impact of the COVID-19 outbreak. The ongoing COVID-19 pandemic has drastically altered the status of the chemical & materials sector and negatively impacted the growth of the wood pellet market. The implementation of measures to combat the spread of the virus has aggravated the situation and affected the growth of several industrial sectors. The market has been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. Disruptions in terms of sourcing of raw materials from suppliers and temporary closures of manufacturing bases due to indefinite lockdowns and temporary quarantines have impacted the growth of the market during the pandemic. As per a news published by Woodcote Media Ltd on 30 July 2020, a survey conducted by ENplus a certification scheme for wood pellets stated that 75% of certified producers have been negatively impacted by the COVID-19 pandemic. The companies are planning to revise the prices of wood pellets for end users. However, the same report represented that approximately 5% of respondents believe that there is a slight increase in demand for wood pellets from end users. Similarly, the wood supply chain has been impacted by the pandemic, which has resulted in disruptions in raw material supply and prices.
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Wood Pellet Market: Strategic Insights
Market Size Value in US$ 9,630.99 Million in 2020 Market Size Value by US$ 23,892.77 Million by 2028 Growth rate CAGR of 12.1% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Wood Pellet Market: Strategic Insights
Market Size Value in | US$ 9,630.99 Million in 2020 |
Market Size Value by | US$ 23,892.77 Million by 2028 |
Growth rate | CAGR of 12.1% from 2021-2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
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Growing Awareness About Use of Renewable Energy Sources
Renewable energy plays a vital role in meeting the future energy needs in both rural and urban areas. The scarcity of resources, along with an increase in awareness about adverse environmental impacts of fossil-based products and processes, has surged the dependency on renewable energy sources such as wood pellets. The growing need for sustainable energy development is yet another factor contributing to the increased demand for wood pellets. Renewable energy resources and technologies are considered environment-friendly alternatives as they generally cause limited or no impact on the environment compared to other forms of energy sources. Further, such resources are easily available and cannot be depleted.
Wood pellets are categorized under renewable energy sources as they are derived from trees and are a form of biomass. Wood pellets are composed of dried and compressed wood fibers prepared from sawmill residuals, logging debris such as forest debris piles, and whole logs. According to the US Energy Information Administration, biomass is categorized as an organic material that can be effectively used as a source of energy. Several forms of biomass such as wood pellets are carbon neutral and leave a net-zero carbon footprint upon burning biomass.
Type Insights
Based on application, the global wood pellet market is segmented into residential heating, commercial heating, CHP (combined heat and power), and power generation. The residential heating segment led the global wood pellets market in 2020. Wood-fueled systems are commonly used worldwide for residential heating, and recently wood pellets have been replacing traditional firewood. Wood pellet boilers for residential heating applications promise low emissions, high efficiency, and automatic operation. Wood pellets are used for residential heating in pellet stoves. They are also used in pellet boilers to generate heat, steam, and electricity in the service industry, power generation, and manufacturing. It is used for power generation and heat generation in the manufacturing and energy sectors, which is driving the wood pellet market. Since the cost of wood pellets remained cheaper than that of other fuels for a long time, it becomes a more economical option, addressing the primary concern of the residential sector. As a renewable energy source, wood pellets had received incentives and subsidies from the governments in several countries. In recent years, many countries either launched or updated their policies and schemes related to wood pellets for heating applications.
Key market players operating in the wood pellet market include Pacific BioEnergy, Premium Pellet Ltd., Pinnacle Renewable Energy, Enviva, ANDRITZ, Wood & Sons, Graanul Invest, New England Wood Pellet, TANAC, and Energex Pellet Fuel, Inc.
Report Spotlights
- Progressive industry trends in the global wood pellet market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global wood pellet market from 2019 to 2028
- Estimation of the demand for wood pellet market across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for wood pellets
- Market trends and outlook, coupled with factors driving and restraining the growth of the wood pellet market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global wood pellet market growth
- Wood pellet market size at various nodes of market
- Detailed overview and segmentation of the global wood pellet market, as well as its dynamics in the industry
- Wood pellet market size in various regions with promising growth opportunities
Wood Pellet Market Report Scope
The report segments the global wood pellet market as follows:
Wood Pellet Market, by Application
- By Application the Global Wood Pellet Market is segmented Residential Heating, Commercial Heating, Combined Heat and Power (CHP), and Power Generation.
Company Profiles
- Pacific BioEnergy
- Premium Pellet Ltd.
- Pinnacle Renewable Energy
- Enviva
- ANDRITZ
- Wood & Sons
- Graanul Invest
- New England Wood Pelletv5/8520
- TANAC
- Energex Pellet Fuel, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Asia Pacific is estimated to register the fastest CAGR in the market over the forecast period. Rising industrialization and urbanization in these countries offer ample opportunities for the key market players. The wood pellet industry in APAC countries has experienced a considerable shift over the years. The massive market growth in the region is attributed to the rising investments in sustainable and bio-based solutions in economies, such as India and China. Furthermore, favorable government policies attract new and international players to set their wood pellet manufacturing plants across China, India, and Japan.
Wood-fuelled systems are commonly used worldwide for residential heating, and recently wood pellets have been replacing traditional firewood. Wood pellet boilers for residential heating applications promise low emissions, high efficiency, and automatic operation. Wood pellets are used for residential heating in pellet stoves and pellet boilers to generate heat, steam, and electricity in the service industry, power generation, and manufacturing. It is used for power generation and heat generation in the manufacturing and energy sectors, which is driving the wood pellet market. Since the cost of wood pellets remained cheaper than that of other fuels for a long time, it becomes a more economical option, addressing the primary concern of the residential sectors. As a renewable energy source, wood pellets had received incentives and subsidies from the governments in many countries.
The major players operating in the wood pellet market are ANDRITZ, Energex Pellet Fuel, Inc., Enviva, New England Wood Pellet LLC, Pacific BioEnergy, Pinnacle Renewable Energy Inc, Premium Pellet Ltd., Graanul Invest, Wood & Sons, and TANAC.
In 2021, Europe held the largest revenue share of the global wood pellet market. An annual report filed with the USDA Foreign Agricultural Service’s Global Agriculture Information Network represents that the wood pellet market in Europe has been relatively unaffected by the COVID-19 pandemic. As per the report, the region consumed ~29 million metric tons of wood pellets in 2018, which makes it the world’s largest pellet market. Wood pellets are used in residential applications for heating purposes and industrial heat and power generation. The report further states that the region contributes ~30% of world pellet production currently. However, it accounts for the major consumption of wood pellets across the globe. Italy, Germany, and other such countries are considered as the major growth markets for consuming wood pellets in residential heating applications. The UK is one of the major consumers of wood pellets, followed by Italy and Denmark.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Wood Pellet Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of Substitutes
4.2.4 Threat of New Entrants
4.2.5 Intensity of Competitive Rivalry
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Wood Pellet Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Awareness About Use of Renewable Energy Sources
5.1.2 Expanding Demand for Wood Pellets from Europe
5.2 Market Restraints
5.2.1 Mandatory Compliances and Operational Challenges Associated with Wood Pellet
5.3 Market Opportunities
5.3.1 Rising Demand for Wood Pellets from Power Generation Industry
5.4 Future Trends
5.4.1 Significant Investment in Research and Expansion
5.5 Impact Analysis of Drivers and Restraints
6. Wood Pellet – Global Market Analysis
6.1 Wood Pellet Market Overview
6.2 Wood Pellet Market –Revenue and Forecast to 2028 (USD Million)
6.3 Market Positioning – Global Market Players
7. Wood Pellet Market Analysis – By Application
7.1 Overview
7.2 Wood Pellet Market, By Application (2020 and 2028)
7.3 Residential Heating
7.3.1 Overview
7.3.2 Residential Heating: Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Commercial Heating
7.4.1 Overview
7.4.2 Commercial Heating: Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)
7.5 CHP (Combined Heat and Power)
7.5.1 Overview
7.5.2 CHP (Combined Heat and Power): Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Power Generation
7.6.1 Overview
7.6.2 Power Generation: Wood Pellet Market – Revenue and Forecast to 2028 (US$ Million)
8. Global Wood Pellet Market – Geographic Analysis
8.1 Overview
8.2 North America Wood Pellet Market Revenue and Forecasts To 2028
8.2.1 North America Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
8.2.2 North America Wood pellet Market Breakdown, by Application
8.2.3 North America Wood pellet Market Breakdown, by Country
8.2.3.1 US Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.2.3.1.1 US Wood pellet Market Breakdown, by Application
8.2.3.2 Canada Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.2.3.2.1 Canada Wood pellet Market Breakdown, by Application
8.2.3.3 Mexico Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.2.3.3.1 Mexico Wood pellet Market Breakdown, by Application
8.3 Europe Wood pellet Market Revenue And Forecasts To 2028
8.3.1 Europe Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
8.3.2 Europe Wood pellet Market Breakdown, by Application
8.3.3 Europe Wood pellet Market Breakdown, by Country
8.3.3.1 Germany Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.3.3.1.1 Germany Wood pellet Market Breakdown, by Application
8.3.3.2 France Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.3.3.2.1 France Wood pellet Market Breakdown, by Application
8.3.3.3 United Kingdom Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.3.3.3.1 United Kingdom Wood pellet Market Breakdown, by Application
8.3.3.4 Italy Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.3.3.4.1 Italy Wood pellet Market Breakdown, by Application
8.3.3.5 Russia Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.3.3.5.1 Russia Wood pellet Market Breakdown, by Application
8.3.3.6 Rest of Europe Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.3.3.6.1 Rest of Europe Wood pellet Market Breakdown, by Application
8.4 Asia Pacific Wood pellet Market Revenue And Forecasts To 2028
8.4.1 Asia Pacific Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
8.4.2 Asia Pacific Wood pellet Market Breakdown, by Application
8.4.3 Asia Pacific Wood pellet Market Breakdown, by Country
8.4.3.1 Australia Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.4.3.1.1 Australia Wood pellet Market Breakdown, by Application
8.4.3.2 China Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.4.3.2.1 China Wood pellet Market Breakdown, by Application
8.4.3.3 Japan Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.4.3.3.1 Japan Wood pellet Market Breakdown, by Application
8.4.3.4 India Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.4.3.4.1 India Wood pellet Market Breakdown, by Application
8.4.3.5 South Korea Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.4.3.5.1 South Korea Wood pellet Market Breakdown, by Application
8.4.3.6 Rest of Asia Pacific Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.4.3.6.1 Rest of Asia Pacific Wood pellet Market Breakdown, by Application
8.5 Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028
8.5.1 Middle East and Africa Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
8.5.2 Middle East and Africa Wood pellet Market Breakdown, by Application
8.5.3 Middle East and Africa Wood pellet Market Breakdown, by Country
8.5.3.1 South Africa Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.5.3.1.1 South Africa Wood pellet Market Breakdown, by Application
8.5.3.2 Saudi Arabia Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.5.3.2.1 Saudi Arabia Wood pellet Market Breakdown, by Application
8.5.3.3 UAE Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.5.3.3.1 UAE Wood pellet Market Breakdown, by Application
8.5.3.4 Rest of Middle East and Africa Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.5.3.4.1 Rest of Middle East and Africa Wood pellet Market Breakdown, by Application
8.6 South America Wood pellet Market Revenue And Forecasts To 2028
8.6.1 South America Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
8.6.2 South America Wood pellet Market Breakdown, by Application
8.6.3 South America Wood pellet Market Breakdown, by Country
8.6.3.1 Brazil Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.6.3.1.1 Brazil Wood pellet Market Breakdown, by Application
8.6.3.2 Argentina Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.6.3.2.1 Argentina Wood pellet Market Breakdown, by Application
8.6.3.3 Rest of South America Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
8.6.3.3.1 Rest of South America Wood pellet Market Breakdown, by Application
9. Overview – Impact of COVID-19
9.1 List of Top 10 Economies Affected by COVID-19 Pandemic
9.2 Impact of COVID-19 on Wood Pellet Market
9.3 North America: Impact Assessment of COVID-19 Pandemic
9.4 Europe: Impact Assessment of COVID-19 Pandemic
9.5 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
9.6 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
9.7 South and Central America: Impact Assessment of COVID-19 Pandemic
10. Company Profiles
10.1 ANDRITZ
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Energex Pellet Fuel, Inc.
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Enviva Lp
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 New England Wood Pellet
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Pacific Bioenergy
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Pinnacle Renewable Energy Inc
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Premium Pellet Ltd.
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Graanul Invest
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Wood & Sons
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 TANAC
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Glossary of Terms
LIST OF TABLES
Table 1. Wood Pellet Market –Revenue and Forecast to 2028 (USD Million)
Table 2. North America Wood pellet Market Revenue And Forecasts To 2028 – By Application (USD Million)
Table 3. US Wood pellet Market Revenue And Forecasts To 2028 – By Application (USD Million)
Table 4. Canada Wood pellet Market Revenue And Forecasts To 2028 – By Product (USD Million)
Table 5. Mexico Wood pellet Market Revenue And Forecasts To 2028 – By Application (USD Million)
Table 6. Europe Wood pellet Market Revenue And Forecasts To 2028 – By Application (USD Million)
Table 7. Germany Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 8. France Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 9. United Kingdom Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 10. Italy Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 11. Russia Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 12. Rest of Europe Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 13. Asia Pacific Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 14. Australia Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 15. China Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 16. Japan Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 17. India Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 18. South Korea Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 19. Rest of Asia Pacific Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 20. Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 21. South Africa Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 22. Saudi Arabia Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 23. UAE Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 24. Rest of Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 25. South America Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 26. Brazil Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 27. Argentina Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 28. Rest of South America Wood pellet Market Revenue And Forecasts To 2028 – By Application (US$ Mn)
Table 29. Glossary of Terms, Wood Pellet Market
LIST OF FIGURES
Figure 1. Wood Pellet Market Segmentation
Figure 2. Wood Pellet Market Segmentation – By Geography
Figure 3. Global Wood Pellet Market Overview
Figure 4. Residential Heating Segment Held Largest Share of Global Wood Pellet Market
Figure 5. Europe Region Held Largest Share of Global Wood Pellet Market
Figure 6. Global Wood Pellet Market, Key Market Players
Figure 7. Porter ‘s Five Forces Analysis for Wood Pellets Market
Figure 8. Expert Opinion
Figure 1. Wood Pellets Market – Ecosystem Analysis
Figure 2. Wood Pellet Market Impact Analysis of Drivers and Restraints
Figure 3. Geographic Overview of Wood Pellet Market
Figure 4. Global: Wood Pellet Market – Revenue and Forecast to 2028 (USD Million)
Figure 5. Wood Pellet Market Revenue Share, By Application (2020 and 2028)
Figure 6. Residential Heating: Wood Pellet Market – Revenue and Forecast To 2028 (US$ Million)
Figure 7. Commercial Heating: Wood Pellet Market – Revenue and Forecast To 2028 (US$ Million)
Figure 8. CHP (Combined Heat and Power): Wood Pellet Market – Revenue and Forecast To 2028 (US$ Million)
Figure 9. Power Generation: Wood Pellet Market – Revenue and Forecast To 2028 (US$ Million)
Figure 10. Wood pellet Market Breakdown, by Region, 2020 & 2028 (%)
Figure 11. North America Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 12. North America Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 13. North America Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 14. US Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 15. Canada Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 16. Mexico Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 17. Europe Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 18. Europe Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 19. Europe Wood pellet Market Breakdown, by Country, 2020 & 2028 (%)
Figure 20. Germany Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 21. France Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 22. United Kingdom Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 23. Italy Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 24. Russia Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 25. Rest Of Europe Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 26. Asia Pacific Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 27. Asia Pacific Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 28. Asia Pacific Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 29. Australia Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 30. China Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 31. Japan Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 32. India Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 33. South Korea Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 34. Rest Of Asia Pacific Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 35. Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 36. Middle East and Africa Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 37. Middle East and Africa Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 38. South Africa Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 39. Saudi Arabia Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 40. UAE Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 41. Rest of Middle East and Africa Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 42. South America Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 43. South America Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 44. South America Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 45. Brazil Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 46. Argentina Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 47. Rest of South America Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 48. Impact of COVID-19 Pandemic in North America
Figure 49. Impact of COVID-19 Pandemic in Europe
Figure 50. Impact of COVID-19 Pandemic in Asia-Pacific
Figure 51. Impact of COVID-19 Pandemic in Middle East & Africa
Figure 52. Impact of COVID-19 Pandemic in South and Central America
The List of Companies - Wood Pellet Market
- Pacific BioEnergy
- Premium Pellet Ltd.
- Pinnacle Renewable Energy
- Enviva
- ANDRITZ
- Wood & Sons
- Graanul Invest
- New England Wood Pellet
- TANAC
- Energex Pellet Fuel, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.