Europe Black & Wood Pellets Market Size, Share, Demand & Trends by 2032
According to Future Market Insights (FMI), Europe
black & wood pellets market is projected to grow at a firm 9.0%
CAGR during the assessment period from 2022 and 2032. Overall
black & wood pellet sales across Europe are projected to total a market valuation
of US$ 25,812.9 Mn by 2032.
Rising usage of black & wood pellets in power and
heat generation applications is a crucial factor expected to drive the market
across Europe during the projection period. The Europe black & wood pellets
market is expected to be dominated by countries like Germany, the U.K. &
Italy and this trend is predicted to continue during the forecast period.
Black & wood pellets are an eco-friendly,
renewable, sustainable, and clean kind of biomass. The market for black &
wood pellets is rising due to the increased need for renewable energy worldwide
and growing focus on limiting the use of fossil fuels that contribute to global
warming.
Demand for black & wood pellets across Europe will
also be driven by growing environmental concerns and rising government
incentives toward sustainability.
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People in colder climates choose wood pellet stoves
because natural gas is more expensive than wood pellets. Wood pellets are
becoming extremely prevalent as a low-cost domestic heating option. However,
because of the superior features of black pellets, the black pellets market is
predicted to rise at a rapid pace.
Wood pellets are widely consumed for various
applications in European countries such as the United Kingdom, Italy, Germany
& others. The increasing cost of energy and electricity, and fluctuations
in the oil & gas industry are propelling the demand for renewable products
for power generation
The demand for black & wood pellets in the
industrial sector is increasing as the pellet-based power plant gains
popularity as a preferred substitute for coal-based power plants. Additionally,
governments all over the world are eager to promote the use of renewable energy
in the transportation, industrial, and residential sectors.
Subsequently, consumers in industrialized nations like
Europe are more environmentally conscious and continue to rely more and more on
renewable energy resources. All these developments will positively impact black
& wood pellet sales over the next ten years.
“Over the assessment period, sales of
black & wood pellets are expected to be driven by the growing need for
renewable energy sources for power generation & heat generation
application,” says an FMI analyst.
Key Takeaways:
- By
type, wood pellets segment is projected to hold approximately 90-97% of
the total market share in 2022 while black pellets segment is set to grow
at the fastest CAGR of 9.6% through 2032.
- The
torrefaction sub-segment of the black pellets segment is anticipated to
grow at 9.5% CAGR through 2032.
- By
application, heat generation sub-segment of black pellets is set to grow
at 10.0% CAGR during the forecast period.
- The
industrial pellet for CHP/district heating segment is expected to reach
about US$ 4,680.9 Mn by the end of the forecast period.
- The
black & wood pellets market in the U.K. is expected to create an
incremental $ opportunity of US$ 4,692.8 Mn during the forecast period.
- Germany’s
black & wood pellets market is forecast to total a valuation of US$
2,626.7 Mn by 2032.
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Who is Winning?
Key market participants of the Black & Wood
Pellets market elaborated in the report include Idemitsu Kosan Co., Ltd.,
Blackwood Technology, Zikha Biomass Energy, Arbaflame AS, TTCL Public Company
Limited, Verdo Holding A/S, Airex Energie Inc., Graanul Invest, Iwatani
Corporation, Land Energy Girvan Limited, Schwaiger Holzindustrie GmbH & Co.
KG, Holzwerke Weinzierl GmbH, Balcas Energy, Enviva LP, Drax Group, Ambienta
Biomasse, & Naparpellet.
To enhance their market presence and gain greater
market shares, prominent market participants are actively focusing on
acquisitions, collaborations, and geographical expansions.
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