SAN FRANCISCO, January 22, 2019
SAN FRANCISCO, January 22, 2019 /PRNewswire/ --
The global wood pellet market size is projected to reach USD 15.47 billion by 2025 expanding at 9.2% CAGR, according to a new report by Grand View Research, Inc. The product is obtained by recycling the timber and forest residues into clean, renewable biomass fuel. Increased government spending on renewable energy for power generation is expected to stimulate market development. Rising demand for cleaner and renewable sources for power generation owing to instability in fossil fuel prices is also expected to propel the product demand.
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Read 118 page research report with TOC on "Wood Pellets Market Size, Share & Trends Analysis Report By Application (Power Plants, Residential Heating, Commercial Heating, CHP Heating), By Region (APAC, Europe, MEA), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/wood-pellets-market
Moreover, wood pellets help reduce the Greenhouse Gas (GHG) and carbon emissions, which is likely to augment their usage; thereby boosting market growth. On the other hand, increasing integration among timber industries towards pelletization is likely to be a major concern for the manufacturers over the forecast period. However, several policies and agreements, such as the Kyoto Protocol, the Paris Agreement of COP21, and the American Clean Energy and Security Act, are estimated to drive the product demand. In addition, increasing R&D activities to develop innovative manufacturing procedures for wood pellets are projected to have a positive impact on the market growth.
Grand View Research has segmented the global wood pellet market on the basis of application and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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