Biomass pellets are widely used as a heating fuel. They are manufactured using different sources including sawdust, timber, switch grass, sugarcane crop, and woody plants. In recent years, there is notable increase in the use of these pellets in power industry. This factor is foreseen to boost prominent demand avenues in the global biomass pellets market from 2020 to 2030.
TMR’s upcoming research report on the biomass pellets market presents complete study of important factors including drivers, challenges, restraints, and growth opportunities in this market. Apart from this, the study sheds light on competitive landscape, important regions, and revenues of the market for biomass pellets. As a result, the assessment works as a helpful guide for entities working in the biomass pellets market for the forecast period 2020–2030.
This study segments the global biomass pellets market on the basis of different important parameters including application and region. Based on application, the market for biomass pellets is classified into power sector and heat sector.
The global biomass pellets market is likely to grow at a decent pace during the forecast period of 2020 to 2030. This growth is attributed to many factors. One of the key factors driving market growth is remarkable increase demand for renewable energy source. Owing to this factor, many enterprises in the power industry are inclined toward adopting the use these pellets.
In recent years, the government bodies of many developed as well as developing countries are imposing stringent regulations regarding environmental safety. This factor is working in favor of the global biomass pellets market. This aside, the biomass industry is experiencing upward curve of investments, which is fueling the technological advancement in the sector. Owing to all these factors, the global biomass pellets market is projected to show growth at substantial pace during the assessment period 2020–2030.
With rising concerns regarding global warming across the world, the regulatory bodies as well as international organizations from all worldwide locations are focused on the implementation of strict regulations regarding environment. As a result, biomass pellets are coming up as one of the important efficient solutions that can help in reducing the fossil fuels dependency. Apart from this, these pellets are also looked as a good option to achieve reduction in greenhouse gases emissions.
Major enterprises operating in the global biomass pellets market are using different strategies to maintain their promising position in the highly competitive landscape of this market. Thus, many vendors are employing the strategies of mergers and acquisitions. A case in point here is recent acquisition announcement by Enviva Partners, LP. The firm noted that it has completed the acquisition process of Georgia Biomass together with its Waycross production plant. This move is expected to help Enviva Partners in maintaining its important position in the global biomass pellets market in the forthcoming years.
The list of key players in the global biomass pellets market includes:
The global biomass pellets market shows existence in many regions including North America, Europe, Latin America, Asia Pacific, and rest of the world. Of all these regions, Europe is one of the prominent regions in the market for biomass pellets. One of the key factors attributed to this growth includes increased initiatives from the regional government bodies for adoption of renewable technologies.