Europe Biomass Pellets Market Surpasses US$ 22,161.2 Million in 2033 amid Rapid Expansion to Meet Renewable Energy Demands | Data by Future Market Insights, Inc.
According to the recent report on the Europe Biomass Pellets market study by FMI, the market is set to culminate at US$ 22,161.2 million by 2033. Biomass pellets, known for their clean-burning and renewable attributes, are gaining traction as an eco-friendly alternative to fossil fuels. Primarily used for heating in industrial, commercial, residential, and power generation applications, their popularity is evident in leading European countries like the UK, Netherlands, Italy, and Germany. Export opportunities, innovative distribution channels, and strategic growth initiatives are fueling the expansion of this dynamic market.
NEWARK, Del, Aug. 15, 2023 (GLOBE NEWSWIRE) — The Europe biomass pellets market size, as reported by Future Market Insights (FMI), reached US$ 10,743.6 million in 2022. Demand for biomass registered a 6.3% year-on-year growth in 2022, indicating that the Europe market would reach US$ 11,387.5 million in 2023.
Over the forecast period 2023 to 2033, Europe’s sales of biomass pellets are expected to exhibit a 6.9% CAGR. It is expected to total a market size of US$ 22,161.2 million by the end of 2033.
Biomass pellets are a clean-burning, cost-effective, and renewable source of fuel that is gaining high popularity as an alternative to fossil-based fuels. Biomass pellets can be produced from any type of compressed biomass or organic matter. This includes cordwood, wood chips, wood sawdust, waste paper, agricultural waste (residue), food waste, virgin lumber, and energy crops among others.
The key application of biomass pellets is heating. They can be used in industrial heating, commercial or residential heating, and also in power generation.
Wood pellets are widely consumed for diverse applications in European countries such as in the United Kingdom, Netherlands, Italy, Germany, and others. The increasing cost of energy, electricity, and fluctuations in the oil and gas industry are propelling the demand for renewable products for power generation.
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The United Kingdom is the leading and key consuming country followed by other European countries such as Denmark, The Netherlands, Italy, Germany, and others.
The growing demand for renewable energy has created export opportunities for European biomass pellet producers. Countries with surplus biomass resources, advanced pellet production technologies, and sustainability certifications are exporting biomass pellets to meet demand in other countries, contributing to market growth.
Key market players are focusing on alternative distribution channels, such as online, to strengthen their market presence in both regional and country-level markets.
The majority of key players are focusing on, the expansion of production units whereas small-scale companies must invest significantly in research and development to introduce new products and expand their Europe presence. Also, key players are focusing on growth in strategic sectors and creating value hubs.
Key Takeaways from this Market Report:
- Europe’s market of biomass pellets is projected to witness a CAGR of 6.9% during the period between 2023 and 2033.
- Based on the end use, biomass pellets are widely used in the residential sector majorly for heating and cooking purposes.
- Based on the type, wood pellets are the dominant segment and hold more than 85% of the total market share.
- Based on the country, the United Kingdom is the leading and key consuming country for biomass pellets, at 25% of the total Europe market.
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“Expansion of production capacities to cater the growing demand for pellets is driving the market in Europe. Fluctuating prices of oil & gas in Europe, and demand for green and carbon-neutral technology are expected to provide growing opportunities to manufacturers,” – says a lead analyst at FMI.
Top 16 Players in Europe Biomass Pellets Market are:
- Energex
- Blackwood Technology
- Arbaflame AS
- TTCL Public Company Limited
- Verdo Holding A/S
- Airex Energie Inc.
- Graanul Invest
- 2 Iwatani Corporation
- Land Energy Girvan Limited
- Schwaiger Holzindustrie GmbH and Co. KG
- Holzwerke Weinzierl GmbH
- Balcas Energy
- Enviva, LP
- Drax Group
- Ambienta Biomasse
- Naparpellet
Key players are engaged in the expansion of production capacities along with research and development. They are also involved in the long-term supply of the products with the end users to maintain the proper supply chain and uninterrupted supply of final products.
For instance:
- On April 4th, 2022, Enviva announced a US$ 250 million investment in a new production plant for Bond, Mississippi to serve the growing demand for renewable resources.
- December 12th, 2022, Enviva Inc. announced the signing of a new 10-year take-or-pay off-take fuel supply contract with an existing European customer, extendable for up to five years.
- On June 1st, 2019, Arbaflame signed a contract with Engie. The French energy company Engie will purchase 70,000 tonnes a year of Arbaflame’s patented wood pellets to replace coal in Engie’s coal power plant Maasvlakte in Rotterdam.
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Market Segmentation:
By Type:
- Wood Pellets
- Black Pellets
- Forestry Pellets
- Agricultural Pellets
- Biomass Briquettes
By Source:
- Agricultural Residue
- Wood Sawdust
- Wood Chips
- Others
By End-use:
- Residential
- Heating
- Cooking
- Power Generation
- Industrial
- Heating
- Power Generation
- Bio-refining
- Others
- Commercial
- Heating
- Power Generation
- Others
By Region:
- Germany
- Italy
- France
- The United Kingdom
- Spain
- Belgium
- Netherland
- Russia
- Rest of Europe
More Insights into the Europe Biomass Pellets Market Report:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the Europe biomass pellets market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the Europe market potential, growth, and scope, the market is segmented based on type, source, end-use, and country.
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