Market Introduction
Europe comprises economies such as Germany, France, the UK, and Italy. 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. Germany is one of the major wood pellet producers in the EU, followed by Sweden and Latvia. The region is strongly shifting toward the renewable energy supply wherein biomass is considered as a significant option to meet the target. Further, as per a study of European Wood Pellets, the rising demand for wood pellets will put a substantial amount of pressure on raw material markets in Europe. It would require new sources such as forest residues, recovered wood, and energy crops. All these factors would bolster the growth of the wood pellets market in Europe in the coming years.
In Europe, France, the UK, and Russia have experienced more serious adversities due to the COVID-19 pandemic. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in supply chain. As of August 2021, Russia recorded 6,379,904 COVID-19 cases, with 162,509 deaths. The pandemic has led to the temporary disruptions in the operational efficiencies of industries in Europe. Fluctuations in raw material sourcing and pricing have also hampered the wood pellet market in Europe. However, growing focus on the adoption of renewable energy sources is expected to substantially promote the demand for wood pellets in the region in the coming years.
Market Overview and Dynamics
The wood pellet market in Europe is expected to grow from US$ 8,285.21 million in 2021 to US$ 18,206.29 million by 2028; it is estimated to grow at a CAGR of 11.9% from 2021 to 2028. Significant investment in research and expansion; Seeing the prevailing opportunities with respect to the wood pellet market, the market players have been significantly involved in research and development activities to improve the efficiency of the wood pellet production process. For instance, new and improved designs for pellet mills have been developed to attain better output with optimum fuel input. Also, extensive research activities have been carried out to promote the calorific value of wood pellets from the available feedstock. Similarly, in December 2020, Austrian pellet boiler manufacturer ÖkoFEN Forschungs- und Entwicklungs Ges.m.b.H (ÖkoFEN) developed ZeroFlame combustion technology to heat with wood pellets, which aims to minimize emissions of particulate matter (PM) without the need for using filters. Further, manufacturers are increasingly focusing on maximizing market share by investing in plant expansion activities concerning wood pellets. Similarly, in December 2020, Pinnacle Renewable Holdings commenced the wood pallets production facility in Alberta. Hence, significant investment in research and expansion facilities is expected to proliferate the growth of the market. This is bolstering the growth of the wood pellet market.
Key Market Segments
Based on application, the market is segmented into residential heating, commercial heating, CHP (combined heat and power), and power generation. In 2020, the residential heating segment held the largest share Europe wood pellet market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the wood pellet market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ANDRITZ, Enviva Lp, Graanul Invest, Pinnacle Renewable Energy Inc, TANAC, and Wood & Sons among others.
Reasons to buy report
EUROPE WOOD PELLET MARKET SEGMENTATION
By Application
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 8,285.21 Million |
| Market Size by 2028 | US$ 18,206.29 Million |
| CAGR (2021 - 2028) | 11.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Wood Pellet Market is valued at US$ 8,285.21 Million in 2021, it is projected to reach US$ 18,206.29 Million by 2028.
As per our report Europe Wood Pellet Market, the market size is valued at US$ 8,285.21 Million in 2021, projecting it to reach US$ 18,206.29 Million by 2028. This translates to a CAGR of approximately 11.9% during the forecast period.
The Europe Wood Pellet Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Wood Pellet Market report:
The Europe Wood Pellet Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Wood Pellet Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Wood Pellet Market value chain can benefit from the information contained in a comprehensive market report.
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