Product Code: PM3421
The global wood pellet market size is expected to reach USD 14.5 billion by 2032, according to a new study by Polaris Market Research. The report "Wood Pellet Market Share, Size, Trends, Industry Analysis Report, By Application (Heat, CHP, and Power); By End-Use; By Region; Segment Forecast, 2023-2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Growing prevalence towards the utilization of wood pellets for wide range of residential and commercial applications including food, cooking, grilling, and supplying heat to the homes, as it is an economical option and its cost remained cheaper of longer period of time, which are among the prominent factors boosting the global market growth. Additionally, there has been significant increase in innovations in wood pellet boilers and surging availability of self-cleansing systems which requires the minimal user input, are also likely to create huge growth opportunities for the market in the near future. For instance, in January 2023, Grant, introduced "Spira Pell" wood pellet boiler, offering low carbon heat source for the home-owners. The product is designed using high grade steel & stainless steel with the exact simplicity of operation for any boiler and is available in out-puts range from 5 to 33 kW.
The emergence of torrefaction across the globe, which is a thermal treatment process that turns biomass into more energy-dense and stable material and as it consists higher energy content than traditional wood pellets, making them more efficient for transportation and storage. However, the technology is still in the early stages of development but shows promise for creating a new generation of high-energy wood pellets in the coming years.
Some of the large wood pellet manufacturers worldwide are exploring the use of alternative feedstocks such as agricultural waste, forest residues, and other forms of biomass, to produce wood pellets, which could help to reduce the environmental impact of wood pellet production by utilizing materials that would otherwise go to waste. Moreover, the advances in automation and digitalization that are making wood pellet production more efficient and cost-effective for manufacturers is constantly becoming popular. For example, some wood pellet mills have stated using automated systems to monitor and control the production process, while reducing the need for manual labor and increasing production capacity.
Wood Pellet Market Report Highlights
Heat segment is projected to grow at a highest CAGR during the forecast period, on account of rising adoption of biomass boilers as an effective heating solution and prevalence as a cost-effective alternative
Residential and commercial segment accounted for major global market share in 2022, which is mainly driven by its easy affordability and several benefits including cleansing and sustainability
Europe region dominated the global market with sustainable market share in 2022, mainly due to increasing awareness among people regarding the benefits of utilizing wood pellets and subsidies offered by governments
The global key market players include: Pinnacle Renewable Energy, Brookridge Group, Graanul Invest, United Company, Highland Pellets, Drax Group, and German Pellets
Polaris Market Research has segmented the wood pellet market report based on application, end-use, and region:
Wood Pellet, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Wood Pellet, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)
- Industrial
- Residential and Commercial
Wood Pellet, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Wood Pellet Market Insights
- 4.1. Wood Pellet Market - Industry Snapshot
- 4.2. Wood Pellet Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising demand for automated and lean warehouses
- 4.2.1.2. Increasing prevalence of modular solutions to optimize the customer productivity
- 4.2.2. Restraints and Challenges
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Wood Pellet Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Wood Pellet Market, by Application
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Wood Pellet, by Application, 2019-2032 (USD Billion)
- 5.3. Heat
- 5.3.1. Global Wood Pellet Market, by Heat, by Region, 2019-2032 (USD Billion)
- 5.4. CHP
- 5.4.1. Global Wood Pellet Market, by CHP, by Region, 2019-2032 (USD Billion)
- 5.5. Power
- 5.5.1. Global Wood Pellet Market, by Power, by Region, 2019-2032 (USD Billion)
6. Global Wood Pellet Market, by End-User
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 6.3. Industrial
- 6.3.1. Global Wood Pellet Market, by Industrial, by Region, 2019-2032 (USD Billion)
- 6.4. Residential and Commercial
- 6.4.1. Global Wood Pellet Market, by Residential and Commercial, by Region, 2019-2032 (USD Billion)
7. Global Wood Pellet Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Wood Pellet Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. Wood Pellet Market - North America
- 7.3.1. North America: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.3.2. North America: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.3.3. Wood Pellet Market - U.S.
- 7.3.3.1. U.S.: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.3.4. Wood Pellet Market - Canada
- 7.3.4.1. Canada: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4. Wood Pellet Market - Europe
- 7.4.1. Europe: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.2. Europe: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4.3. Wood Pellet Market - UK
- 7.4.3.1. UK: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.3.2. UK: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4.4. Wood Pellet Market - France
- 7.4.4.1. France: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.4.2. France: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4.5. Wood Pellet Market - Germany
- 7.4.5.1. Germany: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4.6. Wood Pellet Market - Italy
- 7.4.6.1. Italy: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4.7. Wood Pellet Market - Spain
- 7.4.7.1. Spain: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4.8. Wood Pellet Market - Netherlands
- 7.4.8.1. Netherlands: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.4.9. Wood Pellet Market - Russia
- 7.4.9.1. Russia: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.5. Wood Pellet Market - Asia Pacific
- 7.5.1. Asia Pacific: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.5.3. Wood Pellet Market - China
- 7.5.3.1. China: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.5.3.2. China: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.5.4. Wood Pellet Market - India
- 7.5.4.1. India: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.5.4.2. India: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.5.5. Wood Pellet Market - Malaysia
- 7.5.5.1. Malaysia: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.5.6. Wood Pellet Market - Japan
- 7.5.6.1. Japan: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.5.7. Wood Pellet Market - Indonesia
- 7.5.7.1. Indonesia: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.5.8. Wood Pellet Market - South Korea
- 7.5.8.1. South Korea: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.6. Wood Pellet Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.6.3. Wood Pellet Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.6.4. Wood Pellet Market - UAE
- 7.6.4.1. UAE: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.6.5. Wood Pellet Market - Israel
- 7.6.5.1. Israel: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.6.6. Wood Pellet Market - South Africa
- 7.6.6.1. South Africa: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.7. Wood Pellet Market - Latin America
- 7.7.1. Latin America: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.7.3. Wood Pellet Market - Mexico
- 7.7.3.1. Mexico: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.7.4. Wood Pellet Market - Brazil
- 7.7.4.1. Brazil: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
- 7.7.5. Wood Pellet Market - Argentina
- 7.7.5.1. Argentina: Wood Pellet Market, by End-User, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: Wood Pellet Market, by Application, 2019-2032 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. German Pellets
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Pinnacle Renewable Energy
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Enviva LP
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Wood & Sons
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. , Drax Group
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Stora Enso
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Svenska Cellulosa
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Brookridge Group
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Wood Pellet Energy
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Vermont Wood Pellet
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Hyundai Vehicle
- 9.11.1. Company OverviewFarm Fuels
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Sinclar Group Forest Products
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Graanul Invest
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. Energex
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
- 9.15. Lauzon
- 9.15.1. Company Overview
- 9.15.2. Financial Performance
- 9.15.3. Product Benchmarking
- 9.15.4. Recent Development
- 9.16. United Company
- 9.16.1. Company Overview
- 9.16.2. Financial Performance
- 9.16.3. Product Benchmarking
- 9.16.4. Recent Development
- 9.17. Highland Pellets
- 9.17.1. Company Overview
- 9.17.2. Financial Performance
- 9.17.3. Product Benchmarking
- 9.17.4. Recent Development
- 9.18. Groupe Savoie
- 9.18.1. Company Overview
- 9.18.2. Financial Performance
- 9.18.3. Product Benchmarking
- 9.18.4. Recent Development
- 9.19. I.C.S. Lumber
- 9.19.1. Company Overview
- 9.19.2. Financial Performance
- 9.19.3. Product Benchmarking
- 9.19.4. Recent Development