Biomass Pellets Market Analysis & Outlook 2016-2022

According to the report, the global biomass pellets market accounted for USD 7.65 Billion in 2016 and is expected to reach USD 15.9 Billion by 2022, growing at a CAGR of around 11.0% between 2017 and 2022.

According to the report, the global biomass pellets market accounted for USD 7.65 Billion in 2016 and is expected to reach USD 15.9 Billion by 2022, growing at a CAGR of around 11.0% between 2017 and 2022.

Biomass pellets are biofuels that are made from compressed organic matter or biomass. They can be obtained from five general categories of biomass namely, industrial waste and co-products, food waste, agricultural residues, energy crops, and virgin lumber. Biomass pellets are majorly used as a heating fuel. Low greenhouse gasses emission from biomass, increased government initiatives for renewable technologies, the need for renewable energy supply and massive unexploited biomass potential are the factors driving the global biomass pellets market across the globe. The rapid depletion of fossil fuels and global warming caused by their usage has shifted the global focus from conventional energy to green energy. Several governments across the globe have initiated schemes in the form of incentives, grants, and subsidy to promote and encourage the generation of renewable energy. This is expected to be one of the major growth drivers for biomass pellets market during the forecast period. Although, the high cost of the raw materials and the extraction process is expected to curb the growth of the biomass pellets market.Moreover, preferential tariffs, CDM revenue, Renewable Purchase Obligations and Renewable Energy Certificates for biomass projects are expected to open new avenues of opportunities in the market in the near future.

The biomass pellets can be segmented into categories based on its applications; industrial applications and residential applications. Industrial applications segment accounted for over half of the global revenue and is expected to witness significant gains over the forecast period. Residential applications segment is expected to witness significant growth owing to environmental awareness among the customers and high disposable income which could sway the customers to opt for greener energy options as heating fuel.

Europe accounted for most of the global market share and is expected to grow in light of low GHG emission from biomass and increased government initiatives for the adoption of renewable technologies. In addition, the increasing price of carbon has made it very expensive to burn coal. This is expected to drive the power producers in the region to move towards biomass production aiding the growth of the Europe biomass pellets market.

Asia Pacific biomass pellets market is expected to witness the greatest growth over the forecast period. The major consumers in this region are China, Japan, and South Korea. The Chinese government put the adoption of biomass fuel development at top priority after enacting the Renewable Energy Law recently.To replace coal burning, China has been producing biomass pellets on a large scale. This is expected to support the growth of the Asian biomass pellets market.

Request for free sample report:

The key players in this industry are Energex Corporation, Forest Energy Corporation, Helius Energy, New England Wood Pellet, Woodstone, Forth Energy, International WoodFuels, and MGT Power among others.

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:
Zion Market Research
4283, Express Lane,
Suite 634-143,
Sarasota, Florida 34249, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651

Featured Product

OMG Roofing Products  - PowerGrip Universal

OMG Roofing Products - PowerGrip Universal

Eliminate Solar Rack Ballast and Reduce Rooftop Material Handling. PowerGrip™ Universal (PGU) is a commercial roof mount system designed to secure solar racks and other equipment to any type of commercial roofing system. PGU provides a secure connection directly to the roof deck or structural members and is designed to reduce or eliminate ballast in solar racking systems, so there's less weight on the roof and less material handling. Made of heavy-duty cast aluminum, PGU units include a base ring which is secured through the roofing cover and into the structural roof deck, and a waterproof top plate.