Asia-Pacific Briquettes Market to Grow at a Formidable Rate During Forecast Period
Growing environmental concerns along with improvement in
renewable energy sources to drive Asia-Pacific briquettes market through 2024
According to
TechSci Research report, “Asia Pacific Briquettes Market By Type, By Application,
By Country, Competition, Forecast & Opportunities, 2024”, the Asia-Pacific briquettes market is expected to grow at a
CAGR of around 9% during the forecast period. Briquettes system are witnessing
adoption since they produce low net total greenhouse gas emissions. Further, growing
demand for fuels in countries like India and China is further driving the
demand for briquettes across the region. However, low energy output when
compared to other sources of fuels and limited awareness likely to hamper the
growth of the market during forecast period.
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The Asia-Pacific
briquettes market is segmented based on type, application, country and company.
Based on type, the market can be categorized into saw dust briquettes, agro
waste briquettes, wood briquettes and others. Saw dust briquettes are expected
to register the highest CAGR during the forecast period. This can be accredited
to their low ash content and smokeless usage. Based on application, the
briquettes market can be fragmented into power generation, thermal energy and
others. The thermal energy segment is expected to hold significant market share
owing to the widespread use of briquettes in thermal applications such as
heating purposes, steam generation in boilers, drying, and others.
Energex, Shijiazhung
Ningshu Trading Co., Ltd, HT Solar Vietnam Co., Ltd, Virdis Energy Pvt Ltd., Guangzhou
Aoke Ruifeug Energy Savings Technology Service Co., Ltd., S.L. Bioenergy, Liaoning
Senon Renewable Energy Co., Ltd., Enviva, Pinnacle Renewable Energy Inc., Pacific
Bio Energy Corporation and others are some of the leading players operating in Asia-Pacific
briquettes market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share.
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“The briquettes
market in Asia-Pacific is expected to witness substantial growth during the
forecast period on account of increasing bio-waste generation and growing
environmental pollution by the use of kerosene and charcoal. Additionally, the
availability of abundant & cost-effective sources of raw materials, economical
production of briquettes, and growth of indigenous production of biomass
briquettes is further propelling the market of briquettes across the region.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global
management consulting firm.
“Asia Pacific Briquettes Market By Type, By Application,
By Country, By Company, Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia-Pacific
briquettes market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Asia-Pacific briquettes
market.
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