The global biopellet energy market is anticipated to grow at a significant CAGR during the forecast period. Biopellet or pellet fuels are biofuels made from biomass. Pellets are generally made from various biomass substances such as agricultural residues, energy crops, food waste and virgin lumber. Wood pallete considered as one of the best biopelletes and an effective alternatives to replace the fossil fuels in industrial combustion and power plant applications. The key factor driving the global biopellet market is growing demand for biomass pellets as a fuel for co-firing in coal-based boilers and in other end-user applications. For instance, in October 2021, NTPC has placed an order of 9,30,000 tonnes of biomass pellets for co-firing in power plants toimprove air quality.Apart from this, the adoption of biopelletes in industrial and commericla heat & power generation to reduce the carbon emission has surged their market demand , which in turn driving the market growth. . However, factors such as expensive extraction process, low product quality, and high cost of raw materials restrains the growth of the market. Furthermore, the increasing favourable government regulation and initiatives aimed at curbing carbon emission by increasing reliance on renewable energy for generating power is bringing new opportunities to the market. For instance, from 2013-2020, the European Government has reduced emission level upto 20% as per the Kyoto Protocol.
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Based on applications, heat generation segment is likely to hold significant share in the market during the forecast period. Biopellets are highly used in heat & power generation in induatrial and commercial sector. They are also used in residential and commercial sectors for food cooking and grilling, and supplying heat to homes. The cost of biopellets is less than other fuels and this is the major reason they become an economical option for heat generation. Major economies are using biopellets for renewable heat generation on a large level. For instance, in 2019, wood pellet consumption for heating application was majorly observed in Europe, followed by North America and Asia. 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.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Biopellet Energy Market by Type
- Pellet stoves
- Boilers
- Burners
Global Biopellet Energy Market by Application
- Vehiclefuel
- Heat generation
- Commercial or Residential heating
- Others
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- AMP Clean Energy
- BIOAGRO Energy Osterlen AB
- Brookfield Asset Management Inc.
- Biomass Secure Power Inc.
- Curran Renewable Energy, LLC
- Clarion Housing Group
- Pacific BioEnergy
- Pinnacle Renewable Energy Inc
- Punjab Renewable Energy System Pvt. Ltd
- Renewable Energy Group, Inc.
- Strahler Clean Energy Pvt. Ltd.
- Siemens Gamesa Renewable Energy
- The Brookridge Group
- VIASPACE Green Energy Inc.
- Wood Pellet Reviews
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global biopellet energy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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