Residential Wood Pellets Market is growing due to renewable energy policies & rising bioenergy demand, driving adoption for heating & sustainability in the 2026-2030 forecast period.

According to the TechSci Research report, “Residential Wood Pellets Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2020-2030,” the global Residential Wood Pellets Market is expected to see significant growth during the forecast period. This growth is primarily driven by the increasing demand for wood pellets in clean energy generation, particularly in Europe. However, the rise of alternative renewable energy sources such as solar photovoltaic, wind energy, and geothermal may pose a challenge to market growth.

The heating application accounted for a significant market share in 2021 and is expected to remain dominant during the forecast period. The World Bioenergy Association highlights that Residential Wood Pellets have the potential to replace coal in power generation facilities. Recent technological advancements have enabled wood pellets to undergo thermal upgrading, making them more suitable for use as a fuel with coal-like properties. This makes the Asia-Pacific region, which has the largest number of coal power plants, a potential growth opportunity for the market. Europe, with its high production of residential wood pellets, is expected to lead the market during the forecast period.

The Global Residential Wood Pellets Market is also influenced by several government policies and incentives. For example, in January 2021, the United States introduced a new Wood and Pellet Heater Investment Tax Credit (ITC), which offers a 26% tax credit to consumers purchasing efficient wood and pellet stoves. Similarly, the United Kingdom amended its Domestic Renewable Heat Incentive (Domestic RHI) to promote renewable heating at residential levels, making wood pellets more accessible to consumers. These policies are expected to further boost the heating application segment.

Based on region, Europe is expected to dominate the Residential Wood Pellets Market throughout the forecast period. The demand for wood pellets in Europe is projected to increase by 30-40% between 2021 and 2026. As of 2020, Europe accounted for more than 50% of global pellet demand, with residential heating, power plants, and commercial heating sectors being major contributors. Many European countries have already converted coal power plants to biomass-based power stations, further enhancing the market for Residential Wood Pellets.

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In terms of feedstock, sawmill residues made up 85% of the mix for wood pellet production in 2020, followed by roundwood at 13%. While wood residues remain a key feedstock, technological advancements in the region are expected to meet the growing demand for Residential Wood Pellets in the future.

Overall, the market for Residential Wood Pellets is expected to grow substantially during the forecast period, driven by technological innovations, supportive government policies, and increasing demand for renewable energy sources.

Key market players in the Global Residential Wood Pellets Market are: -

Enviva LP 
Drax Group plc 
Graanul Invest AS 
Pinnacle Renewable Energy Group Inc. 
Energex American, Inc. 
German Pellets GmbH 
Westervelt Company 
Lignetics, Inc. 
TANAC S.A. 
Rentech, Inc

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“The global Residential Wood Pellets market is propelled by several key drivers. Firstly, renewable energy policies worldwide are fostering the adoption of Residential Wood Pellets as a sustainable biomass fuel, aligning with global efforts to reduce carbon emissions. The increasing demand for bioenergy, driven by environmental awareness and a desire to transition away from fossil fuels, further amplifies the market's growth. Government incentives, subsidies, and tax benefits incentivize businesses and consumers to invest in wood pellet technologies.

Additionally, technological advancements in pelletization processes enhance production efficiency. The market is also buoyed by consumer awareness of the environmental benefits of Residential Wood Pellets and the global push for a green energy transition, emphasizing the role of Residential Wood Pellets in achieving renewable energy targets.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Residential Wood Pellets Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Feedstock (Forest Waste, Agricultural Waste, and Others), By Application (Heating, Combined Heat & Power (CHP), and Power Generation), By Region, and By Competition 2020-2030” provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Residential Wood Pellets Market.

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