Residential Wood Pellets Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Feedstock (Forest Waste, Agricultural Waste, and Others), By Application (Heating, Combined Heat & Power (CHP), and Power Generation), By Region, and By Competition 2019-2029

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Summary

Report Description


Forecast Period

2025-2029

Market Size (2023)

USD 3.38 billion

CAGR (2024-2029)

6.32%

Fastest Growing Segment

Heating 

Largest Market

Europe





Market Overview

Global Residential Wood Pellets Market has valued at USD 3.38 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.32 % through 2029.  

The wood pellets market refers to the global industry involved in the production, distribution, and consumption of wood pellets, which are a type of biomass fuel produced from compacted sawdust, wood chips, or other wood residues. Wood pellets serve as a renewable and sustainable alternative to traditional fossil fuels such as coal, oil, and natural gas, particularly in heating and power generation applications.

The market encompasses various stakeholders, including wood pellet manufacturers, suppliers of biomass feedstock, transportation and logistics companies, energy utilities, residential and commercial consumers, and regulatory bodies. Key factors driving the wood pellets market include increasing environmental awareness, government policies promoting renewable energy, concerns over energy security, and technological advancements in pellet production and combustion technology.

The wood pellets market is characterized by a growing demand for clean and sustainable energy solutions, supported by favorable government incentives and the expansion of biomass power generation. However, challenges such as sustainability concerns, market volatility, and competition from other renewable energy sources also influence the dynamics of the wood pellets market. Overall, the wood pellets market plays a significant role in the global transition towards a low-carbon economy and sustainable energy future.

Key Market Drivers

The global Residential Wood Pellets market is characterized by a confluence of factors that drive its growth, making it a dynamic and pivotal sector within the broader renewable energy landscape. One of the primary drivers propelling the expansion of the Residential Wood Pellets market is the widespread adoption and reinforcement of renewable energy policies worldwide. Governments and international bodies are increasingly recognizing the imperative to mitigate climate change by reducing carbon emissions, and wood pellets, as a sustainable biomass fuel, emerge as a viable solution in meeting renewable energy targets. In tandem with the global commitment to sustainable energy practices, there is a growing demand for bioenergy sources. The heightened awareness of environmental issues and the pressing need to transition away from traditional fossil fuels have led to an increased interest in biomass-derived energy, positioning Residential Wood Pellets as a key player in the bioenergy sector. This surge in demand aligns with a broader global shift towards cleaner and more sustainable energy alternatives.

Crucially, the carbon neutrality of Residential Wood Pellets plays a pivotal role in their prominence as an environmentally friendly energy source. The concept of carbon neutrality hinges on the idea that the carbon dioxide released during the combustion of Residential Wood Pellets is offset by the carbon absorbed during the growth of the biomass feedstock. This carbon accounting, coupled with certification programs and sustainable sourcing practices, underscores the ecological credentials of wood pellets, making them an attractive choice for industries and consumers alike. Government incentives and subsidies further fuel the momentum of the Residential Wood Pellets market. In many regions, governments are implementing various financial incentives, subsidies, and tax benefits to encourage the adoption of renewable energy sources, including wood pellets. These policy-driven measures not only make Residential Wood Pellets more economically viable but also contribute to the broader goal of creating a supportive regulatory environment for sustainable energy solutions.

Continued advancements in technology also play a crucial role in the growth of the Residential Wood Pellets market. Ongoing research and development efforts in pelletization technology result in increased efficiency in both the production and utilization of wood pellets. Innovations in manufacturing processes and combustion technologies contribute to making Residential Wood Pellets more accessible and efficient, thereby enhancing their competitiveness in the renewable energy landscape.

Consumer awareness and preferences are pivotal factors influencing market dynamics. With an increasing emphasis on sustainable living and environmental consciousness, consumers are turning towards eco-friendly energy options. Wood pellets, being a renewable and sustainable energy source, resonate with individuals and businesses seeking to reduce their carbon footprint. The rising awareness of the environmental benefits associated with Residential Wood Pellets contributes significantly to their market penetration. The residential heating sector also contributes substantially to the demand for wood pellets. As a source of heat in residential settings, particularly in pellet stoves and boilers, Residential Wood Pellets offer an alternative to conventional heating methods. The demand for Residential Wood Pellets in the residential sector is driven by a combination of factors, including concerns about energy costs, a desire for energy independence, and the environmental advantages of using a renewable heat source.

In the broader context of a global push for green energy transition, Residential Wood Pellets emerge as a crucial component. Nations and regions striving to meet ambitious renewable energy targets and reduce dependence on fossil fuels are increasingly incorporating Residential Wood Pellets into their energy portfolios. The versatility of wood pellets, applicable in both industrial and residential settings, positions them as a flexible and scalable solution in the ongoing quest for sustainable energy sources. In conclusion, the global Residential Wood Pellets market is propelled by a multifaceted set of drivers encompassing policy support, environmental considerations, technological advancements, and consumer preferences. As the world intensifies its efforts to combat climate change and transition towards cleaner energy alternatives, Residential Wood Pellets stand at the forefront of the renewable energy landscape, contributing significantly to a more sustainable and environmentally conscious future.


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Key Market Challenges

While the global Residential Wood Pellets market exhibits considerable growth potential, it also faces several key challenges that impact its development and sustainability. Addressing these challenges is crucial for ensuring the long-term viability and competitiveness of the Residential Wood Pellets industry. One prominent challenge is the potential for biomass resource constraints. Residential Wood Pellets are primarily produced from biomass feedstocks, such as forestry residues and sawdust. However, the availability and sustainable sourcing of these raw materials can be a limiting factor. Overreliance on specific feedstocks or inadequate forest management practices may lead to resource depletion, deforestation, and environmental degradation. Striking a balance between meeting the demand for Residential Wood Pellets and ensuring the sustainable management of biomass resources poses a significant challenge for the industry.

Another challenge is the logistics and transportation costs associated with wood pellets. The global Residential Wood Pellets market often involves the transportation of pellets from production facilities to end-users, including power plants and residential consumers. The bulk and weight of wood pellets, coupled with the need for efficient and sustainable transportation methods, contribute to logistical complexities. High transportation costs can impact the overall competitiveness of wood pellets, especially in regions where alternative energy sources may be more readily available. Market price volatility represents a persistent challenge for the Residential Wood Pellets industry. The pricing of Residential Wood Pellets is influenced by various factors, including raw material costs, energy prices, and global market dynamics. Fluctuations in these factors can result in unpredictable pricing for wood pellets, affecting the economic feasibility of projects and investments. Price volatility poses challenges for both producers and consumers, making it challenging to plan and implement long-term strategies with confidence.

The regulatory landscape also presents challenges for the global Residential Wood Pellets market. While supportive policies and incentives can drive market growth, regulatory uncertainties or changes can have adverse effects. Evolving environmental standards, certification requirements, and trade policies may impact the market dynamics, creating challenges for market participants in terms of compliance and adaptability. Navigating diverse regulatory frameworks across different regions further complicates the global Residential Wood Pellets trade. Concerns about the environmental impact of biomass energy production, including wood pellets, constitute a significant challenge. While Residential Wood Pellets are considered a renewable energy source, questions about the carbon footprint, land-use change, and emissions associated with biomass production and combustion persist. Achieving a consensus on the sustainability criteria for wood pellets, as well as addressing perceptions related to potential environmental impacts, is an ongoing challenge that the industry must contend with.

Technological challenges also exist, particularly in optimizing combustion efficiency and reducing emissions. While advancements in pelletization technology have enhanced overall efficiency, there is a continual need for research and development to further improve the combustion process. The industry must invest in innovative technologies that minimize emissions, enhance energy conversion rates, and ensure compliance with stringent environmental standards.

Market diversification is an additional challenge. The Residential Wood Pellets market is often reliant on specific end-use sectors, such as power generation and residential heating. Overdependence on a limited range of applications makes the industry vulnerable to shifts in demand within those sectors. Diversifying the applications of Residential Wood Pellets and exploring new markets can help mitigate risks associated with market concentration. In conclusion, the global Residential Wood Pellets market faces challenges related to biomass resource constraints, logistics and transportation costs, market price volatility, regulatory complexities, environmental concerns, technological advancements, and market diversification. Addressing these challenges requires a collaborative effort from industry stakeholders, policymakers, and researchers to foster sustainable practices, enhance efficiency, and ensure the long-term viability of Residential Wood Pellets as a renewable energy solution.

Key Market Trends

The global Residential Wood Pellets market is marked by several key trends that shape its dynamics and contribute to its evolution within the broader renewable energy sector. Understanding these trends is crucial for stakeholders to make informed decisions and capitalize on emerging opportunities. One notable trend is the increasing demand for Residential Wood Pellets in the industrial and commercial sectors for heat and power generation. As businesses and industries seek to reduce their carbon footprint, Residential Wood Pellets are gaining traction as a viable alternative to traditional fossil fuels. The industrial sector's growing recognition of biomass as a sustainable and cost-effective energy source is driving the demand for Residential Wood Pellets in applications such as combined heat and power (CHP) plants and industrial boilers.

The residential heating sector continues to be a significant driver of the Residential Wood Pellets market. With a rising emphasis on clean and renewable energy solutions for home heating, Residential Wood Pellets are increasingly being used in pellet stoves and boilers. The convenience, efficiency, and environmental benefits associated with Residential Wood Pellets make them an attractive choice for residential consumers seeking to transition away from conventional heating methods. Market players are increasingly focusing on the development of advanced pelletization technologies to enhance the efficiency of wood pellet production. Innovations in pellet manufacturing processes, equipment, and quality control measures contribute to higher pellet quality and energy content. This trend not only improves the overall competitiveness of Residential Wood Pellets but also addresses concerns related to resource efficiency and sustainability in the production process.

A notable trend is the geographical expansion of the Residential Wood Pellets market. While traditionally concentrated in North America and Europe, the market is witnessing growth in other regions, driven by increasing awareness of renewable energy, supportive policies, and evolving consumer preferences. Asia-Pacific, in particular, is emerging as a significant market for wood pellets, with countries like Japan and South Korea importing substantial quantities to meet their renewable energy targets.

Sustainability certification programs play a pivotal role in shaping the Residential Wood Pellets market. Certification schemes, such as those provided by organizations like the Sustainable Biomass Program (SBP) and Forest Stewardship Council (FSC), help ensure that Residential Wood Pellets meet specific environmental and social sustainability criteria. Market participants are increasingly seeking certification to demonstrate the sustainability of their products, meet regulatory requirements, and appeal to environmentally conscious consumers. The concept of circular economy and the utilization of Residential Wood Pellets as a form of biomass energy fit well with the principles of waste-to-energy. The market is witnessing a trend where Residential Wood Pellets are produced from biomass feedstocks that include wood residues, sawdust, and agricultural waste. This aligns with the broader goals of reducing waste, promoting recycling, and optimizing the use of available resources.

Government support and incentives continue to be a driving force behind the growth of the Residential Wood Pellets market. Many countries have implemented policies and financial incentives to promote the use of renewable energy sources, including wood pellets. Subsidies, tax credits, and favorable regulatory frameworks encourage investments in wood pellet production and consumption, providing a conducive environment for market expansion. In conclusion, the global Residential Wood Pellets market is characterized by trends such as increasing industrial and commercial demand, a growing emphasis on residential heating applications, advancements in pelletization technologies, geographical expansion, sustainability certification, the adoption of circular economy principles, and government support. These trends collectively contribute to the market's vibrancy and underline wood pellets' role as a crucial player in the renewable energy landscape. As the market continues to evolve, stakeholders need to stay attuned to these trends to navigate challenges and leverage opportunities for sustainable growth.

Segmental Insights

Application Insights

The Heating segment held the largest market share in 2023. Pellets are a solid biomass fuel, primarily produced from wood residues and agricultural by-products like straw. Specific advantages of pellets as compared to unprocessed biomass include standardized properties, high energy content, and high density.

Residential Wood Pellets for heating applications are primarily used in residential and commercial sectors for food, cooking and grilling, and supplying heat to homes. Since the cost of pellets remained cheaper than that of other fuels for a long time, it has become a more economical option, addressing the primary concern of the residential and commercial sectors. In addition to this, in 2020, the wood pellets, due to oversupply, experienced a sharp decline in their prices.

As a renewable energy source, Residential Wood Pellets have received subsidies and incentives from the governments in many countries, and many countries either launched or updated their policies and schemes related to Residential Wood Pellets for heating applications in recent years.

 

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Regional Insights

Europe emerged as the dominating region in 2023, holding the largest market share. In Europe, the demand for Residential Wood Pellets is expected to increase by 30-40% between 2021 and 2026. Europe represents more than 50% of global pellet demand. As of 2020, European nations' use of pellets includes residential heating (40%), power plants (36%), commercial heating (14%), and combined heat and power plants (10%). Moreover, pellets have also made their way into coal conversion projects in local authority or public administration buildings such as schools and offices.

As of 2020, most of the co-firing power stations have either closed or converted since these early projects, with several making a move to 100% Residential Wood Pellets for fuel. The largest of these is Drax Power Station in North Yorkshire, which has converted four of its six 65 MWe generating units to run exclusively on biomass and is currently evaluating options for its remaining two coal-fired units.

As of 2020, sawmill residues make up 85% of the mix for wood pellet production, followed by roundwood (13%) and recovered wood (2%). Although the wood residues are likely to remain an important feedstock, especially in northern and western Europe, they will not be sufficient to meet the future fiber demand from the growing wood pellet sector. Further, technological advancements in the market in the region are also likely to increase the demand for Residential Wood Pellets during the studied period.

 

Recent Developments

July 2023:

  • Pinnacle Renewable Holdings: Received a USD300 million financing commitment from BMO Harris Bank to build a new pellet plant in Alberta, Canada, catering to European demand.

June 2023:

  • Graanul Invest: Received USD108.33 million investment from the Estonian government to build a new pellet plant, aiming to become the leading pellet producer in the Baltics.

Key Market Players

  • Enviva LP 
  • Drax Group plc 
  • Graanul Invest AS 
  • Pinnacle Renewable Energy Group Inc. 
  • Energex American, Inc. 
  • German Pellets GmbH 
  • Westervelt Company 
  • Lignetics, Inc. 
  • TANAC S.A. 
  • Rentech, Inc

 

By Feedstock

By Application

By Region
  • Forest Waste
  • Agricultural Waste
  • Others
  • Heating
  • Combined Heat & Power (CHP)
  • Power Generation
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Residential Wood Pellets Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Resindetial Wood Pellets Market, By Feedstock:

o   Forest Waste

o   Agricultural Waste

o   Others   

  • Residential Wood Pellets Market, By Application:

o   Heating

o   Combined Heat & Power (CHP)

o   Power Generation  

  • Residential Wood Pellets Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Residential Wood Pellets Market.

Available Customizations:

Global Residential Wood Pellets Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Residential Wood Pellets Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.        Markets Covered

1.2.2.        Years Considered for Study

1.3.  Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Formulation of the Scope

2.4.  Assumptions and Limitations

2.5.  Sources of Research

2.5.1.        Secondary Research

2.5.2.        Primary Research

2.6.  Approach for the Market Study

2.6.1.        The Bottom-Up Approach

2.6.2.        The Top-Down Approach

2.7.  Methodology Followed for Calculation of Market Size & Market Shares

2.8.  Forecasting Methodology

2.8.1.        Data Triangulation & Validation

3.    Executive Summary

4.    Voice of Customer

5.    Global Residential Wood Pellets Market Outlook

5.1.  Market Size & Forecast

5.1.1.        By Value

5.2.  Market Share & Forecast

5.2.1.        By Feedstock (Forest Waste, Agricultural Waste, and Others)

5.2.2.        By Application (Heating, Combined Heat & Power (CHP), and Power Generation)

5.2.3.        By Region

5.2.4.        By Company (2023)

5.3.  Market Map

6.    North America Residential Wood Pellets Market Outlook

6.1.  Market Size & Forecast

6.1.1.        By Value

6.2.  Market Share & Forecast

6.2.1.        By Feedstock

6.2.2.        By Application

6.2.3.        By Country

6.3.  North America: Country Analysis

6.3.1.        United States Residential Wood Pellets Market Outlook

6.3.1.1.    Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.    Market Share & Forecast

6.3.1.2.1.             By Feedstock

6.3.1.2.2.             By Application

6.3.2.        Canada Residential Wood Pellets Market Outlook

6.3.2.1.    Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.    Market Share & Forecast

6.3.2.2.1.             By Feedstock

6.3.2.2.2.             By Application

6.3.3.        Mexico Residential Wood Pellets Market Outlook

6.3.3.1.    Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.    Market Share & Forecast

6.3.3.2.1.             By Feedstock

6.3.3.2.2.             By Application

7.    Europe Residential Wood Pellets Market Outlook

7.1.  Market Size & Forecast

7.1.1.        By Value

7.2.  Market Share & Forecast

7.2.1.        By Feedstock

7.2.2.        By Application

7.2.3.        By Country

7.3.  Europe: Country Analysis

7.3.1.        Germany Residential Wood Pellets Market Outlook

7.3.1.1.    Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.    Market Share & Forecast

7.3.1.2.1.             By Feedstock

7.3.1.2.2.             By Application

7.3.2.        United Kingdom Residential Wood Pellets Market Outlook

7.3.2.1.    Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.    Market Share & Forecast

7.3.2.2.1.             By Feedstock

7.3.2.2.2.             By Application

7.3.3.        Italy Residential Wood Pellets Market Outlook

7.3.3.1.    Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.    Market Share & Forecast

7.3.3.2.1.             By Feedstock

7.3.3.2.2.             By Application

7.3.4.        France Residential Wood Pellets Market Outlook

7.3.4.1.    Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.    Market Share & Forecast

7.3.4.2.1.             By Feedstock

7.3.4.2.2.             By Application

7.3.5.        Spain Residential Wood Pellets Market Outlook

7.3.5.1.    Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.    Market Share & Forecast

7.3.5.2.1.             By Feedstock

7.3.5.2.2.             By Application

8.    Asia-Pacific Residential Wood Pellets Market Outlook

8.1.  Market Size & Forecast

8.1.1.        By Value

8.2.  Market Share & Forecast

8.2.1.        By Feedstock

8.2.2.        By Application

8.2.3.        By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.        China Residential Wood Pellets Market Outlook

8.3.1.1.    Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.    Market Share & Forecast

8.3.1.2.1.             By Feedstock

8.3.1.2.2.             By Application

8.3.2.        India Residential Wood Pellets Market Outlook

8.3.2.1.    Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.    Market Share & Forecast

8.3.2.2.1.             By Feedstock

8.3.2.2.2.             By Application

8.3.3.        Japan Residential Wood Pellets Market Outlook

8.3.3.1.    Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.    Market Share & Forecast

8.3.3.2.1.             By Feedstock

8.3.3.2.2.             By Application

8.3.4.        South Korea Residential Wood Pellets Market Outlook

8.3.4.1.    Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.    Market Share & Forecast

8.3.4.2.1.             By Feedstock

8.3.4.2.2.             By Application

8.3.5.        Australia Residential Wood Pellets Market Outlook

8.3.5.1.    Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.    Market Share & Forecast

8.3.5.2.1.             By Feedstock

8.3.5.2.2.             By Application

9.    South America Residential Wood Pellets Market Outlook

9.1.  Market Size & Forecast

9.1.1.        By Value

9.2.  Market Share & Forecast

9.2.1.        By Feedstock

9.2.2.        By Application

9.2.3.        By Country

9.3.  South America: Country Analysis

9.3.1.        Brazil Residential Wood Pellets Market Outlook

9.3.1.1.    Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.    Market Share & Forecast

9.3.1.2.1.             By Feedstock

9.3.1.2.2.             By Application

9.3.2.        Argentina Residential Wood Pellets Market Outlook

9.3.2.1.    Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.    Market Share & Forecast

9.3.2.2.1.             By Feedstock

9.3.2.2.2.             By Application

9.3.3.        Colombia Residential Wood Pellets Market Outlook

9.3.3.1.    Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.    Market Share & Forecast

9.3.3.2.1.             By Feedstock

9.3.3.2.2.             By Application

10.  Middle East and Africa Residential Wood Pellets Market Outlook

10.1.   Market Size & Forecast         

10.1.1.     By Value

10.2.   Market Share & Forecast

10.2.1.     By Feedstock

10.2.2.     By Application

10.2.3.     By Country

10.3.   Middle East and Africa: Country Analysis

10.3.1.     South Africa Residential Wood Pellets Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1.          By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1.          By Feedstock

10.3.1.2.2.          By Application

10.3.2.     Saudi Arabia Residential Wood Pellets Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1.          By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1.          By Feedstock

10.3.2.2.2.          By Application

10.3.3.     UAE Residential Wood Pellets Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1.          By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1.          By Feedstock

10.3.3.2.2.          By Application

10.3.4.     Kuwait Residential Wood Pellets Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1.          By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1.          By Feedstock

10.3.4.2.2.          By Application

10.3.5.     Turkey Residential Wood Pellets Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1.          By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1.          By Feedstock

10.3.5.2.2.          By Application

11.  Market Dynamics

11.1.   Drivers

11.2.   Challenges

12.  Market Trends & Developments

13.  Company Profiles

13.1.   Enviva LP

13.1.1.     Business Overview

13.1.2.     Key Revenue and Financials 

13.1.3.     Recent Developments

13.1.4.     Key Personnel/Key Contact Person

13.1.5.     Key Product/Services Offered

13.2.   Drax Group plc

13.2.1.     Business Overview

13.2.2.     Key Revenue and Financials 

13.2.3.     Recent Developments

13.2.4.     Key Personnel/Key Contact Person

13.2.5.     Key Product/Services Offered

13.3.   Graanul Invest AS

13.3.1.     Business Overview

13.3.2.     Key Revenue and Financials 

13.3.3.     Recent Developments

13.3.4.     Key Personnel/Key Contact Person

13.3.5.     Key Product/Services Offered

13.4.   Pinnacle Renewable Energy Group Inc.

13.4.1.     Business Overview

13.4.2.     Key Revenue and Financials 

13.4.3.     Recent Developments

13.4.4.     Key Personnel/Key Contact Person

13.4.5.     Key Product/Services Offered

13.5.   Energex American, Inc.

13.5.1.     Business Overview

13.5.2.     Key Revenue and Financials 

13.5.3.     Recent Developments

13.5.4.     Key Personnel/Key Contact Person

13.5.5.     Key Product/Services Offered

13.6.   German Pellets GmbH

13.6.1.     Business Overview

13.6.2.     Key Revenue and Financials 

13.6.3.     Recent Developments

13.6.4.     Key Personnel/Key Contact Person

13.6.5.     Key Product/Services Offered

13.7.   Westervelt Company

13.7.1.     Business Overview

13.7.2.     Key Revenue and Financials 

13.7.3.     Recent Developments

13.7.4.     Key Personnel/Key Contact Person

13.7.5.     Key Product/Services Offered

13.8.   Lignetics, Inc.

13.8.1.     Business Overview

13.8.2.     Key Revenue and Financials 

13.8.3.     Recent Developments

13.8.4.     Key Personnel/Key Contact Person

13.8.5.     Key Product/Services Offered

13.9.   TANAC S.A.

13.9.1.     Business Overview

13.9.2.     Key Revenue and Financials 

13.9.3.     Recent Developments

13.9.4.     Key Personnel/Key Contact Person

13.9.5.     Key Product/Services Offered

13.10. Rentech, Inc

13.10.1.  Business Overview

13.10.2.  Key Revenue and Financials 

13.10.3.  Recent Developments

13.10.4.  Key Personnel/Key Contact Person

13.10.5.  Key Product/Services Offered

14.  Strategic Recommendations

15.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Residential Wood Pellets Market was USD 3.38 billion in 2023.

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The Heating segment held the largest market share in 2023. Pellets are a solid biomass fuel, primarily produced from wood residues and agricultural by-products like straw. Specific advantages of pellets as compared to unprocessed biomass include standardized properties, high energy content, and high density.

down-arrow

Europe emerged as the dominating region in 2023, holding the largest market share. In Europe, the demand for Residential Wood Pellets is expected to increase by 30-40% between 2021 and 2026. Europe represents more than 50% of global pellet demand. As of 2020, European nations' use of pellets includes residential heating (40%), power plants (36%), commercial heating (14%), and combined heat and power plants (10%). Moreover, pellets have also made their way into coal conversion projects in local authority or public administration buildings such as schools and offices.

down-arrow

Renewable Energy Policies and Increasing Demand for Bioenergy are the major driver of the Global Residential Wood Pellets Market.

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Parvati Sharma

Account Manager BD
Press Release

Residential Wood Pellets Market is expected to grow at a CAGR of 6.32%

Feb, 2024

Renewable Energy Policies and Increasing Demand for Bioenergy are factors driving the Global Residential Wood Pellets Market in the forecast period 2025-2029.

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