Market Size of Europe Wood Pellet Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Wood Pellets Market Analysis
The Europe wood pellet market is expected to grow at a CAGR of more than 6% during the forecast period of 2022 - 2027. The COVID-19 outbreak in Q1 of 2020 had reduced demand and shortages of raw materials and further delayed wood pellet production across the Europe region. Factors, such as increasing demand for wood pellets in clean energy generation are likely to drive the Europe wood pellet market during the forecast period. However, the adoption and increasing deployment of alternative renewable energy sources such as solar photovoltaic, wind energy, and geothermal in various parts of the world is likely to hinder the market growth during the forecast period.
- The heating application is expected to dominate the market during the forecast period, owing to the increasing demand for wood pallets in the heating applications.
- As per the World Bioenergy Association, wood pellets have the potential to replace coal in power generation facilities. With technology development in recent years, wood pellets have undergone some thermal upgrading through various processes like torrefaction, hydrothermal carbonization, and steam explosion. This is expected to provide opportunity for the market to grow in the near future.
- With a significant production of wood pellets during 2021, United Kingdom is expected to the fastest growing market during the forecast period.
