Global Biopellet Energy Market Size Set to Touch USD 428 Million by 2030

Published | 28 November 2024

Global Biopellet Energy Market is flourishing because of an increasing demand for energy from renewable resources and the availability of  abundant affordable biomass resources.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Biopellet Energy Market size at USD 271.1 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Biopellet Energy Market size to expand at a significant CAGR of 6.60% reaching a value of USD 427.7 million by 2030. Major growth factors for Global Biopellet Energy Market include the increasing use of renewable energy and the significant volatility of fossil fuel prices. Various countries are pledging towards net zero emissions. They are also enforcing strict rules to cut their carbon emissions, which should encourage the use of biopellets and propel the growth of Global Biopellet Energy Market during the period in analysis.

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Opportunity – Governments’ Favorable Policies and Incentives

Favorable government policies and incentives that promote the use of renewable energy sources are extremely crucial for the growth of Global Biopellet Energy Market. Governments of various countries have adopted carbon reduction strategies and established renewable energy targets to promote sustainability in their respective regions. For instance, the United States has launched programs, such as the Biomass Crop Assistance Program (BCAP) to support biomass production. Such programs provide financial assistance and a policy framework to boost biopellet production and consumption, offering market stability to both businesses and consumers.

Impact of Escalating Geopolitical Tensions on Global Biopellet Energy Market

Intensifying geopolitical tensions influence various aspects of Global Biopellet Energy Market. Supply chain disruptions brought on by geopolitical conflicts frequently make it more difficult to get essential resources like the raw biomass materials needed to make biopellet energy or agricultural leftovers. Sanctions or blockades resulting from tensions in areas with extensive agricultural output may further raise the cost of logistics and transportation. For example, the flow of biopellets might be delayed or stopped by military action that damages infrastructure or disrupts important shipping routes, which would have an impact on international trade. But as the price of fossil fuels fluctuates more, growing geopolitical tensions might also present biopellet energy with lucrative growth opportunities. As fossil fuel costs rise, biopellet energy will become a more appealing renewable and reasonably priced energy source.

Agricultural Residue Feedstock Holds Largest Market Share

The agricultural residues segment accounts for the largest share of Global Biopellet Energy Market by feedstock. Biopellets are made from agricultural waste, such as crop stalks, sugarcane bagasse, coffee husks, and rice husks. Carbon monoxide is released into the atmosphere as a result of the growing amount of agricultural waste that would otherwise be burnt if it were not recycled. The commercial expansion of agricultural residue is further aided by its wide availability. The other major feedstock segments include forestry residue, energy crops, animal manure, and municipal residue.

Europe Leads Global Biopellet Energy Market

Europe holds a major market share of Global Biopellet Energy Market, because of strict laws pertaining to reduced carbon emissions. Renewable energy adoption is aided by the growing commercial and industrial sectors as well as favorable government initiatives. North America has a significant market share after Europe. The market for biopellets is expanding as a result of rising output in many states , such as West Virginia, Kentucky, and Alabama, in United States.

Competitive Landscape

Major companies Global Biopellet Energy Market include NextEra Energy Resources, Drax Group, Avangrid Renewables, RWE Generation SE, Audubon Cos, AES Corporation, Southern Company, Enviva Partners, Dominion Energy, Ameren Missouri, and Pinnacle Renewable Energy. The presence of high number of companies intensify the market competition as they compete to gain a significant market share.

These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

Don’t miss the business opportunity in Global Biopellet Energy Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Global Biopellet Energy Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Biopellet Energy Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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