The wood pellet industry was valued at approximately US$ 9,630.99 million in 2020 and is anticipated to grow to US$ 23,892.77 million by 2028, reflecting a compound annual growth rate (CAGR) of 12.1% from 2021 to 2028.
Wood pellets are manufactured from finely ground wood materials, primarily serving as a fuel source. They are widely utilized in residential settings for efficient combustion in compact stoves. The production of wood pellets involves various wood waste products, positioning them as a renewable energy resource. In addition to their traditional use in residential heating, there is a notable increase in the utilization of wood pellets for electricity generation worldwide. This trend is expected to drive the demand for wood pellets in the future. Europe currently leads in the consumption of wood pellets for power generation, while North America stands out as a significant exporter, likely to expand its production facilities in the near future.
The wood pellet market is categorized based on application into several segments: residential heating, commercial heating, combined heat and power (CHP), and power generation. In 2020, the residential heating segment dominated the market, holding the largest share. Globally, wood-fueled systems are increasingly adopted for residential heating, with wood pellets gradually replacing conventional firewood. Wood pellet boilers designed for residential use offer low emissions, high efficiency, and automated operation. These pellets are utilized in pellet stoves and boilers to produce heat, steam, and electricity across various sectors, including service industries, power generation, and manufacturing. The demand for wood pellets in power and heat generation within the manufacturing and energy sectors is a significant factor propelling the market forward. Additionally, the cost-effectiveness of wood pellets compared to other fuels has made them an attractive option for the residential sector. As a renewable energy source, wood pellets have also benefited from government incentives and subsidies in numerous countries, leading to updated policies and schemes promoting their use for heating applications.
In 2020, Europe accounted for the largest share of the global wood pellet market. According to an annual report from the USDA Foreign Agricultural Service's Global Agriculture Information Network, the European wood pellet market remained largely stable despite the challenges posed by the COVID-19 pandemic. The report indicates that Europe consumed approximately 29 million metric tons of wood pellets in 2018, solidifying its position as the largest pellet market globally. Wood pellets are extensively used for residential heating and industrial heat and power generation. The report further highlights that Europe currently contributes around 30% of the world's pellet production, while being the leading consumer of wood pellets. Countries such as Italy, Germany, and others are recognized as significant markets for residential heating applications using wood pellets. The UK ranks among the top consumers, followed closely by Italy and Denmark.
Key players in the wood pellet market include Pacific BioEnergy, Premium Pellet Ltd., Pinnacle Renewable Energy, Enviva, Andritz, Wood & Sons, Graanul Invest, New England Wood Pellet, Tanac, and Energex Pellet Fuel, Inc..
The overall size of the global wood pellet market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the findings and gain deeper analytical insights. Participants in this research included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the global wood pellet market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
 3.2.1 Data Collection:
 3.2.2 Primary Interviews:
 3.2.3 Hypothesis formulation:
 3.2.4 Macro-economic factor analysis:
 3.2.5 Developing base number:
 3.2.6 Data Triangulation:
 3.2.7 Country level data:
4. Wood Pellet Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
 4.2.1 Bargaining Power of Suppliers
 4.2.2 Bargaining Power of Buyers
 4.2.3 Threat of Substitutes
 4.2.4 Threat of New Entrants
 4.2.5 Intensity of Competitive Rivalry
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Wood Pellet Market - Key Market Dynamics
5.1 Market Drivers
 5.1.1 Growing Awareness About Use of Renewable Energy Sources
 5.1.2 Expanding Demand for Wood Pellets from Europe
5.2 Market Restraints
 5.2.1 Mandatory Compliances and Operational Challenges Associated with Wood Pellet
5.3 Market Opportunities
 5.3.1 Rising Demand for Wood Pellets from Power Generation Industry
5.4 Future Trends
 5.4.1 Significant Investment in Research and Expansion
5.5 Impact Analysis of Drivers and Restraints
6. Wood Pellet - Global Market Analysis
6.1 Wood Pellet Market Overview
6.2 Wood Pellet Market -Revenue and Forecast to 2028 (USD Million)
6.3 Market Positioning - Global Market Players
7. Wood Pellet Market Analysis - By Application
7.1 Overview
7.2 Wood Pellet Market, By Application (2020 and 2028)
7.3 Residential Heating
 7.3.1 Overview
 7.3.2 Residential Heating: Wood Pellet Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Commercial Heating
 7.4.1 Overview
 7.4.2 Commercial Heating: Wood Pellet Market - Revenue and Forecast to 2028 (US$ Million)
7.5 CHP (Combined Heat and Power)
 7.5.1 Overview
 7.5.2 CHP (Combined Heat and Power): Wood Pellet Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Power Generation
 7.6.1 Overview
 7.6.2 Power Generation: Wood Pellet Market - Revenue and Forecast to 2028 (US$ Million)
8. Global Wood Pellet Market - Geographic Analysis
8.1 Overview
8.2 North America Wood Pellet Market Revenue and Forecasts To 2028
 8.2.1 North America Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
 8.2.2 North America Wood pellet Market Breakdown, by Application
 8.2.3 North America Wood pellet Market Breakdown, by Country
 8.2.3.1 US Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.2.3.1.1 US Wood pellet Market Breakdown, by Application
 8.2.3.2 Canada Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.2.3.2.1 Canada Wood pellet Market Breakdown, by Application
 8.2.3.3 Mexico Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.2.3.3.1 Mexico Wood pellet Market Breakdown, by Application
8.3 Europe Wood pellet Market Revenue And Forecasts To 2028
 8.3.1 Europe Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
 8.3.2 Europe Wood pellet Market Breakdown, by Application
 8.3.3 Europe Wood pellet Market Breakdown, by Country
 8.3.3.1 Germany Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.3.3.1.1 Germany Wood pellet Market Breakdown, by Application
 8.3.3.2 France Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.3.3.2.1 France Wood pellet Market Breakdown, by Application
 8.3.3.3 United Kingdom Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.3.3.3.1 United Kingdom Wood pellet Market Breakdown, by Application
 8.3.3.4 Italy Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.3.3.4.1 Italy Wood pellet Market Breakdown, by Application
 8.3.3.5 Russia Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.3.3.5.1 Russia Wood pellet Market Breakdown, by Application
 8.3.3.6 Rest of Europe Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.3.3.6.1 Rest of Europe Wood pellet Market Breakdown, by Application
8.4 Asia Pacific Wood pellet Market Revenue And Forecasts To 2028
 8.4.1 Asia Pacific Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
 8.4.2 Asia Pacific Wood pellet Market Breakdown, by Application
 8.4.3 Asia Pacific Wood pellet Market Breakdown, by Country
 8.4.3.1 Australia Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.4.3.1.1 Australia Wood pellet Market Breakdown, by Application
 8.4.3.2 China Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.4.3.2.1 China Wood pellet Market Breakdown, by Application
 8.4.3.3 Japan Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.4.3.3.1 Japan Wood pellet Market Breakdown, by Application
 8.4.3.4 India Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.4.3.4.1 India Wood pellet Market Breakdown, by Application
 8.4.3.5 South Korea Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.4.3.5.1 South Korea Wood pellet Market Breakdown, by Application
 8.4.3.6 Rest of Asia Pacific Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.4.3.6.1 Rest of Asia Pacific Wood pellet Market Breakdown, by Application
8.5 Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028
 8.5.1 Middle East and Africa Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
 8.5.2 Middle East and Africa Wood pellet Market Breakdown, by Application
 8.5.3 Middle East and Africa Wood pellet Market Breakdown, by Country
 8.5.3.1 South Africa Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.5.3.1.1 South Africa Wood pellet Market Breakdown, by Application
 8.5.3.2 Saudi Arabia Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.5.3.2.1 Saudi Arabia Wood pellet Market Breakdown, by Application
 8.5.3.3 UAE Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.5.3.3.1 UAE Wood pellet Market Breakdown, by Application
 8.5.3.4 Rest of Middle East and Africa Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.5.3.4.1 Rest of Middle East and Africa Wood pellet Market Breakdown, by Application
8.6 South America Wood pellet Market Revenue And Forecasts To 2028
 8.6.1 South America Wood pellet Market Revenue and Forecast to 2028 (US$ Mn)
 8.6.2 South America Wood pellet Market Breakdown, by Application
 8.6.3 South America Wood pellet Market Breakdown, by Country
 8.6.3.1 Brazil Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.6.3.1.1 Brazil Wood pellet Market Breakdown, by Application
 8.6.3.2 Argentina Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.6.3.2.1 Argentina Wood pellet Market Breakdown, by Application
 8.6.3.3 Rest of South America Wood pellet Market Revenue and Forecast to 2028 (US$ MN)
 8.6.3.3.1 Rest of South America Wood pellet Market Breakdown, by Application
9. Overview - Impact of COVID-19
9.1 List of Top 10 Economies Affected by COVID-19 Pandemic
9.2 Impact of COVID-19 on Wood Pellet Market
9.3 North America: Impact Assessment of COVID-19 Pandemic
9.4 Europe: Impact Assessment of COVID-19 Pandemic
9.5 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
9.6 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
9.7 South and Central America: Impact Assessment of COVID-19 Pandemic
10. Company Profiles
10.1 ANDRITZ
 10.1.1 Key Facts
 10.1.2 Business Description
 10.1.3 Products and Services
 10.1.4 Financial Overview
 10.1.5 SWOT Analysis
 10.1.6 Key Developments
10.2 Energex Pellet Fuel, Inc.
 10.2.1 Key Facts
 10.2.2 Business Description
 10.2.3 Products and Services
 10.2.4 Financial Overview
 10.2.5 SWOT Analysis
 10.2.6 Key Developments
10.3 Enviva Lp
 10.3.1 Key Facts
 10.3.2 Business Description
 10.3.3 Products and Services
 10.3.4 Financial Overview
 10.3.5 SWOT Analysis
 10.3.6 Key Developments
10.4 New England Wood Pellet
 10.4.1 Key Facts
 10.4.2 Business Description
 10.4.3 Products and Services
 10.4.4 Financial Overview
 10.4.5 SWOT Analysis
 10.4.6 Key Developments
10.5 Pacific Bioenergy
 10.5.1 Key Facts
 10.5.2 Business Description
 10.5.3 Products and Services
 10.5.4 Financial Overview
 10.5.5 SWOT Analysis
 10.5.6 Key Developments
10.6 Pinnacle Renewable Energy Inc
 10.6.1 Key Facts
 10.6.2 Business Description
 10.6.3 Products and Services
 10.6.4 Financial Overview
 10.6.5 SWOT Analysis
 10.6.6 Key Developments
10.7 Premium Pellet Ltd.
 10.7.1 Key Facts
 10.7.2 Business Description
 10.7.3 Products and Services
 10.7.4 Financial Overview
 10.7.5 SWOT Analysis
 10.7.6 Key Developments
10.8 Graanul Invest
 10.8.1 Key Facts
 10.8.2 Business Description
 10.8.3 Products and Services
 10.8.4 Financial Overview
 10.8.5 SWOT Analysis
 10.8.6 Key Developments
10.9 Wood & Sons
 10.9.1 Key Facts
 10.9.2 Business Description
 10.9.3 Products and Services
 10.9.4 Financial Overview
 10.9.5 SWOT Analysis
 10.9.6 Key Developments
10.10 TANAC
 10.10.1 Key Facts
 10.10.2 Business Description
 10.10.3 Products and Services
 10.10.4 Financial Overview
 10.10.5 SWOT Analysis
 10.10.6 Key Developments
11. Appendix
11.1 About
11.2 Glossary of Terms
LIST OF TABLES
Table 1. Wood Pellet Market -Revenue and Forecast to 2028 (USD Million)
Table 2. North America Wood pellet Market Revenue And Forecasts To 2028 - By Application (USD Million)
Table 3. US Wood pellet Market Revenue And Forecasts To 2028 - By Application (USD Million)
Table 4. Canada Wood pellet Market Revenue And Forecasts To 2028 - By Product (USD Million)
Table 5. Mexico Wood pellet Market Revenue And Forecasts To 2028 - By Application (USD Million)
Table 6. Europe Wood pellet Market Revenue And Forecasts To 2028 - By Application (USD Million)
Table 7. Germany Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 8. France Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 9. United Kingdom Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 10. Italy Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 11. Russia Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 12. Rest of Europe Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 13. Asia Pacific Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 14. Australia Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 15. China Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 16. Japan Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 17. India Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 18. South Korea Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 19. Rest of Asia Pacific Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 20. Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 21. South Africa Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 22. Saudi Arabia Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 23. UAE Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 24. Rest of Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 25. South America Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 26. Brazil Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 27. Argentina Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 28. Rest of South America Wood pellet Market Revenue And Forecasts To 2028 - By Application (US$ Mn)
Table 29. Glossary of Terms, Wood Pellet Market
LIST OF FIGURES
Figure 1. Wood Pellet Market Segmentation
Figure 2. Wood Pellet Market Segmentation - By Geography
Figure 3. Global Wood Pellet Market Overview
Figure 4. Residential Heating Segment Held Largest Share of Global Wood Pellet Market
Figure 5. Europe Region Held Largest Share of Global Wood Pellet Market
Figure 6. Global Wood Pellet Market, Key Market Players
Figure 7. Porter ?s Five Forces Analysis for Wood Pellets Market
Figure 8. Expert Opinion
Figure 1. Wood Pellets Market - Ecosystem Analysis
Figure 2. Wood Pellet Market Impact Analysis of Drivers and Restraints
Figure 3. Geographic Overview of Wood Pellet Market
Figure 4. Global: Wood Pellet Market - Revenue and Forecast to 2028 (USD Million)
Figure 5. Wood Pellet Market Revenue Share, By Application (2020 and 2028)
Figure 6. Residential Heating: Wood Pellet Market - Revenue and Forecast To 2028 (US$ Million)
Figure 7. Commercial Heating: Wood Pellet Market - Revenue and Forecast To 2028 (US$ Million)
Figure 8. CHP (Combined Heat and Power): Wood Pellet Market - Revenue and Forecast To 2028 (US$ Million)
Figure 9. Power Generation: Wood Pellet Market - Revenue and Forecast To 2028 (US$ Million)
Figure 10. Wood pellet Market Breakdown, by Region, 2020 & 2028 (%)
Figure 11. North America Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 12. North America Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 13. North America Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 14. US Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 15. Canada Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 16. Mexico Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 17. Europe Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 18. Europe Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 19. Europe Wood pellet Market Breakdown, by Country, 2020 & 2028 (%)
Figure 20. Germany Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 21. France Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 22. United Kingdom Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 23. Italy Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 24. Russia Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 25. Rest Of Europe Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 26. Asia Pacific Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 27. Asia Pacific Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 28. Asia Pacific Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 29. Australia Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 30. China Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 31. Japan Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 32. India Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 33. South Korea Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 34. Rest Of Asia Pacific Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 35. Middle East and Africa Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 36. Middle East and Africa Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 37. Middle East and Africa Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 38. South Africa Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 39. Saudi Arabia Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 40. UAE Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 41. Rest of Middle East and Africa Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 42. South America Wood pellet Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 43. South America Wood pellet Market Breakdown, By Application, 2020 & 2028 (%)
Figure 44. South America Wood pellet Market Breakdown, by Country, 2020 & 2028(%)
Figure 45. Brazil Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 46. Argentina Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 47. Rest of South America Wood pellet Market Forecasts To 2028 (US$ Mn)
Figure 48. Impact of COVID-19 Pandemic in North America
Figure 49. Impact of COVID-19 Pandemic in Europe
Figure 50. Impact of COVID-19 Pandemic in Asia-Pacific
Figure 51. Impact of COVID-19 Pandemic in Middle East & Africa
Figure 52. Impact of COVID-19 Pandemic in South and Central America
Pacific BioEnergy
Premium Pellet Ltd.
Pinnacle Renewable Energy
Enviva
ANDRITZ
Wood & Sons
Graanul Invest
New England Wood Pellet
TANAC
Energex Pellet Fuel, Inc.