Wood Pellet Fuel Market Report 2025 (Global Edition)

Global Wood Pellet Fuel Market Report 2025 Market Size Split by Application (Residential Heating, Commercial Heating, Industrial Heating, Power Generation), by Raw Material (Hardwood, Softwood, Wood C...

Wood Pellet Fuel Market Report Description

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Wood Pellet Fuel Market Insights Video

Competitive Landscape of the Wood Pellet Fuel Market

In the Wood Pellet Fuel Market's competitive landscape, numerous key competitors are driving innovation and growth. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and cooperation with other organizations. Market participants are also engaging in a range of strategic actions to broaden their global footprint. Market rivalry is encouraging technological and design innovations to create Wood Pellet Fuel that fulfill both consumer wants and sustainability goals, keeping the market dynamic and competitive.

In October 2022, In a white paper, Enviva Inc., a provider of wood biomass that is obtained responsibly, examined the potential applications of biomass in sectors other than fossil fuels, including chemicals, steel, cement, lime, and sustainable aviation fuel (SAF). (Source: https://www.envivabiomass.com/enviva-releases-white-paper-on-the-evolution-of-modern-bioenergy-in-heavy-industry-verticals/) In June 2023, High-performance polyethylene bags containing 50% PCR (post-consumer recycled) materials are now used by TotalEnergies to package their premium wood pellets. While delivering the same thickness and qualities as alternatives derived from fossil fuels, the packaging also lessens its environmental impact. In addition, the corporation started implementing a circular economy in its usage of plastic. (Source: https://polymers.totalenergies.com/latest-news/totalenergies-premium-wood-pellets-packaging-now-made-50-recycled-polymers-reclic-range) In February 2022, the acquisition of Princeton Standard Pellet Corporation's (PSPC) British Columbia, Canada, pellet production plant was agreed upon by Drax Group Plc. The facility can produce 90,000 tons of wood pellets annually. With this acquisition, Drax Group Plc will be able to meet its goal of producing 8 million tons of wood pellets annually by 2030. (Source: https://www.drax.com/investors/acquisition-of-90000-tonnes-canadian-pellet-plant/)

Top Companies Market Share in Wood Pellet Fuel Industry: (In no particular order of Rank)

• Drax Group Plc
• SINGPELLET Pte. Ltd.
• Enviva LP
• Georgia Biomass
• LLC
• The Westervelt Company
• Inc.
• Pinnacle Renewable Energy Inc.
• Energex
• Wood Pellet Energy (UK) Ltd.
• United Company
• Groupe Savoie Inc.
• Vermont Wood Pellet Co.
• Pacific BioEnergy
• Premium Pellet Ltd.
• I.C.S. (Lacroix) Lumber Inc.
• Lauzon Recycled Wood Energy
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Wood Pellet Fuel Market

Which Region Dominates the Wood Pellet Fuel Market in 2024?

According to Cognitive Market Research, North America currently dominates the Wood Pellet Fuel market, and the region is expected to have significant growth during the projected period. This is due to increased government support for sustainable practices and a growing demand for renewable energy sources.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR), due to rising energy demands and a focus on sustainability. Diversifying energy sources and cutting greenhouse gas emissions are the goals of government initiatives that encourage the shift to biomass.

The current report Scope analyzes Wood Pellet Fuel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Wood Pellet Fuel

According to Cognitive Market Research, the global Wood Pellet Fuel Market size was estimated at USD 13524.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 5409.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Wood Pellet Fuel Market with a market size of USD 4268.33 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. The U.S. market's Stringent governmental regulations against plastic pollution.
• The Canada Wood Pellet Fuel Market had a market share of USD 649.18 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Canada’s rising awareness among the population.
• The Mexico Wood Pellet Fuel Market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 492.29 million in 2024.

Europe Wood Pellet Fuel

According to Cognitive Market Research, the global Wood Pellet Fuel Market size was estimated at USD 13524.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 4057.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• The United Kingdom Wood Pellet Fuel Market had a market share of USD 681.63 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. In the UK, Wood Pellet Fuel sales witness an upswing due to the increasing focus on renewable energy resources.
• The France Wood Pellet Fuel Market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 373.28 million in 2024.
• According to Cognitive Market Research, the German Wood Pellet Fuel Market size was valued at USD 803.36 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. In Germany, Wood Pellet Fuel surged due to the Increased focus of the manufacturers and major market players.
• The Italy Wood Pellet Fuel Market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 348.93 million in 2024.
• The Russia Wood Pellet Fuel Market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 628.89 million in 2024.
• The Spain Wood Pellet Fuel Market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 332.70 million in 2024
• The Luxembourg Wood Pellet Fuel Market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 125.78 million in 2024.
• The Portugal Wood Pellet Fuel Market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 85.20 million in 2024.
• The Greece Wood Pellet Fuel Market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 48.69 million in 2024.
• The Rest of Europe's Wood Pellet Fuel Market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 628.89 million in 2024.

Asia Pacific Wood Pellet Fuel

According to Cognitive Market Research, the global Wood Pellet Fuel Market size was estimated at USD 13524.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 3110.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Wood Pellet Fuel Market size was valued at USD 1399.79 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. Wood Pellet Fuel surged in China due to Increased focus of the manufacturers and major market players.
• The Japan Wood Pellet Fuel Market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 429.27 million in 2024.
• The India Wood Pellet Fuel Market had a market share of USD 373.28 million in 2024 and is projected to grow at a CAGR of 11.8% during the forecast period. India's rising awareness among the populations .
• The South Korean Wood Pellet Fuel Market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 311.06 million in 2024.
• The Australian Wood Pellet Fuel Market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 161.75 million in 2024.
• The South East Asia Wood Pellet Fuel Market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 214.63 million in 2024.
• The Rest of Asia Pacific Wood Pellet Fuel Market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 220.86 million in 2024.

South America Wood Pellet Fuel

According to Cognitive Market Research, the global Wood Pellet Fuel Market size was estimated at USD 13524.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 676.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Wood Pellet Fuel Market size was valued at USD 289.42 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Wood Pellet Fuel flourished in Brazil due to growing interest in sustainable practices..
• Argentina's Wood Pellet Fuel Market had a market share of USD 113.61 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. Argentina's rising renewable energy sources.
• Colombia Wood Pellet Fuel Market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 60.18 million in 2024.
• Peru Wood Pellet Fuel Market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 55.45 million in 2024.
• Chile Wood Pellet Fuel Market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 48.69 million in 2024.
• The Rest of Latin America's Wood Pellet Fuel Market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 108.87 million in 2024.

Middle East Wood Pellet Fuel

According to Cognitive Market Research, the global Wood Pellet Fuel Market size was estimated at USD 13524.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 270.49 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031..

• The GCC Countries Wood Pellet Fuel Market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 115.77 million in 2024. Wood Pellet Fuel sales flourish due to the presence of major market players.
• The Egypt Wood Pellet Fuel Market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 28.40 million in 2024.
• The South Africa Wood Pellet Fuel Market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 42.74 million in 2024. Wood Pellet Fuel sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey Wood Pellet Fuel Market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 23.26 million in 2024.
• The Nigeria Wood Pellet Fuel Market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 28.40 millon in 2024.
• The Rest of the MEA Wood Pellet Fuel Market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 31.92 million in 2024.

Wood Pellet Fuel Market Analysis

Wood Pellet Fuel Market Feedstock Segment Analysis

According to Cognitive Market Research, forest waste are likely to dominate the Wood Pellet Fuel Market over the forecast period. The primary source of pellets is the waste material from conventional forestry operations like sawmills and the production of finished wood products. The majority of these landowners maintain their properties as working forests or as well managed forests that sustainably provide a range of forest products to different sectors.

The agriculture waste is the fastest-growing segment in the Wood Pellet Fuel Market. In order to provide sustainable energy, the wood pellet fuel market's agricultural waste segment makes use of byproducts like rice husks, straw, and maize stover. This strategy encourages the use of eco-friendly energy alternatives while also easing the burden of disposing of waste.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Wood Pellet Fuel Industry. Request a Free Sample PDF!

Wood Pellet Fuel Market Application Segment Analysis

According to Cognitive Market Research, the heating applications holds the largest share of the market, due to the availability of bulk fuel supplies and cutting-edge technology like pellet stoves, the use of wood pellets for heating office buildings, commercial buildings, federal or municipal buildings, and educational facilities is expanding quickly in European and North American countries.

In the Wood Pellet Fuel Market, the power generation has been expanding at a rapid pace. In coal-fired power plants, wood pellets are co-fired with coal to produce energy and lower greenhouse gas emissions. The market for these pellets in power generation applications is anticipated to be driven by their easy adaptation to automated combustion systems in coal-fired power plants.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Wood Pellet Fuel Grade Segment Analysis

Wood Pellet Fuel Market End-use Segment Analysis

According to Cognitive Market Research, the industrial segment dominates the market. The product is used as a renewable energy source in a variety of industrial activities, including food processing, drying, and manufacturing. They can assist lessen dependency on fossil fuels by providing energy for specific operations in boilers, thermal equipment, and industrial dryers.

Residential is projected to be the fastest-growing segment in the Wood Pellet Fuel Market, Due to the growing popularity of wood pellets for home heating through pellet boilers and stoves. Because of qualities like being green, clean, sustainable, etc., these pellets are growing in popularity among the home population.

• Premium Grade
• Standard Grade
• Industrial Grade

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion