Global wood pellet fuel market stood at USD10,533.55 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 7.73%, owing to rising demand for eco-friendly alternatives to non-renewable fuels, etc.
The term "wood pellet fuel" refers to biofuels made from compressed wood fibers. Pellets can be made from a variety of biomass sources, including industrial waste and byproducts, food waste, agricultural waste, energy crops, and untreated lumber. For uses such as heating, cooking, boilers, and power plants, wood pellets can be used in place of charcoal, firewood, oil, and gas.
Wood Pellet Energy UK (LTD), Drax Group Plc, Enviva, German Pellets GmbH, Stora Enso Oyj, Pacific BioEnergy, Wood & Sons, Land Energy Girvan Limited, AS Graanul Invest are among the major market players in the global platform that lead the market growth of the global wood pellet fuel.
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