Global Wood Fuels Market 2019-2023 | Rising Popularity of Distributed Energy Generation to Boost Growth | Technavio

The global wood fuels market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.

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A key factor driving the growth of the market is the increasing use of biomass fuels. Government bodies worldwide are focusing on the reduction of GHG emissions and several regulations are adding impetus to the use of alternatives such as bioenergy. Thus, biomass energy production is being encouraged across the globe by implementing favorable policies and giving different subsidies and tax incentives for the development of biomass as a fuel. Since fossil fuels are depleting gradually, the growing need for renewable energy sources has driven governments to encourage biogas production. Also, there is an increase in the adoption of wood-based biomass energy as it is a renewable and sustainable energy source and helps reduce the carbon emission. Thus, the increasing adoption of biomass fuel across the globe for power generation will support the growth of the global wood fuels market during the forecast period.

As per Technavio, the rising popularity of distributed energy generation will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global wood fuels market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global wood fuels market: Rising popularity of distributed energy generation

Distributed generation refers to a range of technologies such as solar panels and CHP, which generate electricity at or near the point of consumption. Distributed generation systems function on a wide range of energy sources and technologies such as wind turbines, natural gas-fired fuel cells, solar PV panels, and diesel- and gasoline-powered backup generators. They can serve a single structure, such as a home or business, or can be integrated as a part of a microgrid (in a major industrial facility, a large college campus, or a military base). The distributed generation systems are also being largely used in the commercial, industrial, and residential sectors lately. Moreover, the use of wood biomass as a fuel has emerged as a new trend in the distributed energy generation sector. Hence, distributed energy generation is expected to grow rapidly during the forecast period.

“Apart from the rising popularity of distributed energy generation, the declining investment in coal industry, the increasing use of biomass district heating, the regulations for GHG emissions and the use of bioenergy in heating systems are some other major aspects that are expected to boost the growth of the overall global wood fuels market during the forecast period,” says a senior analyst at Technavio.

Global wood fuels market: Segmentation analysis

This market research report segments the global wood fuels market by product (wood pellets and wood chips) and geographical regions (Americas, EMEA, and APAC).

The Americas led the market in 2018, followed by APAC and EMEA, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increasing adoption of biomass fuels and the replacement of old conventional boilers with clean fuels such as wood pellets and wood chips.

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Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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