At 4.9% CAGR, the Europe Biomass Pellets Market is Projected to be worth US$ 9,488.43 million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe biomass pellets market was valued at US$ 6,478.62 million in 2022 and is expected to reach US$ 9,488.43 million by 2030, registering a CAGR of 4.9% from 2022 to 2030. Increasing utilization of agricultural residues for biomass pellets production and adoption of biomass pellets for animal bedding are the critical factors attributed to the Europe biomass pellets market expansion.

Biomass pellets produced from agricultural residues have been gaining popularity as a sustainable approach to biomass energy production. The production of agricultural residues is directly associated with the largest agricultural regions across the globe. The high availability of agricultural residues creates a scope for promising feedstock for biomass pellets production. Further, the utilization of agricultural residues aids in waste management issues and minimizes the need for incineration activities. The production and sale of value-added products derived from agri-wastes also offer scope for the monetization of waste material. The potential utilization of agricultural residues is recognized by governments of various countries for biomass energy production. Governments and regulatory authorities worldwide have set targets to support energy security and climate change mitigation. Therefore, increasing utilization of agricultural residues for biomass pellets production is expected to create lucrative opportunities in the Europe biomass pellets market over the coming years.

On the contrary, environmental concerns pertaining to the utilization of biomass pellets hurdles the growth of Europe biomass pellets market.

Based on source, the Europe biomass pellets market is segmented into agricultural residue, industrial waste, wood, and others. The wood segment held 92.5% share of Europe biomass pellets market in 2022, amassing US$ 5,992.13 million. It is projected to garner US$ 8,692.78 million by 2030 to expand at 4.8% CAGR during 2022–2030.

Based on application, the Europe biomass pellets market is segmented into power plants, industrial heating, residential and commercial heating, and others. The power plants segment held 39.1% share of Europe biomass pellets market in 2022, amassing US$ 2,531.45 million. It is projected to garner US$ 3,828.25 million by 2030 to expand at 5.3% CAGR during 2022–2030.

Based on country, the Europe biomass pellets market is segmented into Germany, France, Italy, the, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 42.5% share of Europe biomass pellets market in 2022. It was assessed at US$ 2,751.43 million in 2022 and is likely to hit US$ 4,079.09 million by 2030, exhibiting a CAGR of 5.0% during 2022–2030.

Key players profiled in the Europe biomass pellets market report are AS Graanul Invest, Drax Group Plc, Energex American Inc, Enviva Inc, Lignetics Inc, Mallard Creek Inc, and Valfei Products Inc, among others.

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