Wood Pellets Market Expected To Expand At A CAGR of 9.2% For The Projected Period From 2019-2025 : Grand View Research Inc.
San Francisco, 11 October 2019: The Report 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 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. 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 integrat