Biomass Pellets Market: Report Highlights The Competitive Scenario With Impact Of Drivers And Challenges

The factors driving the growth of the global market include low GHG emission from biomass, increased government initiatives for renewable technologies, need for constant energy supply and massive untapped biomass potential. The rapid depletion of fossil fuels and global warming caused by their usage has shifted the global interest from conventional energy to green energy. The different governments across the globe have initiated several schemes in the form of incentives, grants and subsidy to promote and encourage the generation of renewable energy. The new government policies are encouraging the development of renewable energy sources for power generation.

Research Scope & Methodology

1.1 Market Definition

1.2 Market Scope

1.2.1 Market breakdown by application

1.2.2 Market breakdown by geography

1.3 Research Methodology and Sources

Asia biomass pellet market is expected to witness the fastest growth (21.6% CAGR) globally during 2015 – 2020.The major consumers of biomass pellets in Asia are China, Japan and South Korea. On January 1, 2006, Renewable Energy Law was enacted in China. As a result of this, the Chinese government put the adoption of biomass fuel development at top priority. Currently, biomass pellets are produced in large scale for replacing coal burning in China and is expected to grow steadily. This in turn, is expected to support the growth of the Asian biomass pellets market.

Market Outlook

3.1 Introduction

3.2 Trends in Biomass Pellets Market

3.2.1 Advancement in technology

3.2.2 Increased third-party ownership   

3.2.3 Increased focus on renewable technologies for power generation

3.3 Factors Driving Growth of the Biomass Pellets Market

3.3.1 Low GHG emissions from biomass

3.3.2 Increased government initiatives for renewable technologies

3.3.3 Need for constant energy supply

3.3.4 Massive untapped biomass potential

3.4 Factors Hindering Growth of the Biomass Pellets Market      

3.4.1 Increase in cost of biomass pellets

3.4.2 Instability in global economic conditions    

3.4.3 Cost competitiveness

3.5 Impact analysis of drivers and restraints on market forecast

The major reasons behind the growth of the biomass pellets market in the region are low GHG emission from biomass and increased government initiatives for adoption of renewable technologies. The biomass pellets market in Europe is expected to maintain its growth rate, which is mainly driven by various subsidies and legislation. The incentives for biomass conversion in the U.K. are aimed at encouraging infrastructural development. The price of carbon is getting increased, thus making it very expensive to burn coal.