North America Biomass Pellets Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Feedstock Application, and Region

North America Biomass Pellets Market Definition:

Green waste and other natural materials are widely used to make Biomass Pellets. These are commonly used to generate electricity, heat, cooking fuel, and operate industrial boilers with the objective of generating electricity from steam. In the coming years, the North American Biomass Pellets Market is forecast to grow

 

Further, the North America Biomass Pellets market is segmented by Feedstock, Application and geography. On the basis of Feedstock, the North America Biomass Pellets market is segmented under Forest Waste, Agriculture waste and Other. Based on the Application, the market is segmented under Power generation, residential heating, commercial heating and CHP. By geography, the market covers the major countries in North America i.e., US, Canada and Mexico. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

To get more Insights: Request Free Sample Report

 

North America Biomass Pellets COVID 19 Insights:

During the pandemic, Canada is under scrutiny since it is responsible for exporting clean, renewable, and low-carbon electricity to power plants in Europe and Asia. Companies in the biomass pellets market in Canada are building a reputation for maintaining reliable supply chains for home heating applications in rural areas where natural gas is not available. In times of low economic activity, they are working at breakneck speeds to keep Canada's national rail network and ports busy.

 

North America Biomass Pellets Market Dynamics:

Market Drivers:

The increasing public awareness of the importance of environmental conservation benefits the biomass pellets market greatly. As a result of this transformation, biofuels and various renewable energy sources such as solar and wind are in extremely high demand. Clean energy demand has increased significantly, particularly in an industrialized region such as North America.

 

The biomass pellets market in the United States is expected to grow by 5.1 % in volume year over year in 2022, reaching a total market valuation of US$ 1.5278 million by the end of the year. The United States is a major buyer of biomass pellets. In terms of energy usage, it was among the top three developed economies. As a result, individuals in the United States are fully aware of growing environmental concerns and their negative effects. As a result, the country's demand for renewable energy sources is likely to rise. The US government is also introducing numerous programs to encourage the adoption of environmentally friendly solutions in the country, which is expected to boost biomass pellet demand through the forecast period.

 

Because of the advantages of biomass, biomass pellets will quickly become one of the most important energy sources. Pellets made from biomass are carbon-neutral, renewable, and, most importantly, plentiful. Taking these factors into account, governments in a variety of countries are encouraging the use of biomass-based energy, particularly biomass pellets, through a variety of schemes and subsidies. The Biomass Thermal Utilization Act (BTU Act) in North America, for example, aims to promote and recognize the economic and environmental benefits of biomass-derived fuels and energy sources. Clean wood heating systems for commercial and residential use are eligible for a 15% to 30% credit under this act.

 

Market Trend:

 People in cold regions are moving to wood pellet burners because natural gas is more costly than wood pellets. Biomass pellets are becoming increasingly popular as a low-cost option to heat a home. Companies in the biomass pellets market are taking advantage of this chance to increase production volumes by sourcing waste wood and sawdust. High-temperature pelletization technologies are used to combine these feedstock sources into pellets without the use of glue or additives. Currently, in the North American region are attempting to develop a system that uses biomass pellets as a fuel for grains drying air heating systems. As the cost of agricultural products rises, biomass pellet air heating systems, as well as biomass pellet central heating systems for farms, are becoming increasingly popular.

 

North America Biomass Pellets Market Segment Analysis:

By Feedstock, The market is divided into three categories based on the feedstock: forest waste, agricultural waste, and others. The forest waste segment accounted for the majority of the market share. Pellets are mostly made by-products of traditional forestry operations such as sawmills and the production of finished wood products.   Over 85 % of forestland in the southeastern United States is controlled by small-scale, private family landowners. The majority of these landowners maintain their lands as working forests or as forests that are carefully managed to provide such a variety of forest products to a variety of sectors in a sustainable way.

 

By Application, The market can be divided into four categories based on the application: power generation and combined heat and power (CHP), Residential Heating, Commercial heating. The primary factors driving the market's growth are stringent environmental regulations aimed at reducing carbon emissions and raising renewable energy requirements. Regulators and policymakers consider emissions at the smokestack from using wood energy to generate power and heat to be carbon-neutral. This will have a favorable impact on the growth of the North America Biomass Pellets market.

 

North America Biomass Pellets Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the North America market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the North America Biomass Pellets market to the stakeholders in the industry. The report provides trends that are most dominant in the North America Biomass Pellets market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the North America Biomass Pellets Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the North America Biomass Pellets market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the North America Biomass Pellets market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the North America Biomass Pellets market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the North America Biomass Pellets market. The report also analyses if the North America Biomass Pellets market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the North America Biomass Pellets market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Biomass Pellets market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Biomass Pellets market is aided by legal factors.

 

North America Biomass Pellets Market Scope:

North America Biomass Pellets Market
Market Size in 2023	USD 5.86 Bn.
Market Size in 2030	USD 7.76 Bn.
CAGR (2024-2030)	4.1%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Feedstock Forest Waste Agriculture Waste Other
	by Application Power Generation Residential Heating Commercial Heating CHP
Country Scope	United States Canada Mexico

 

North America Biomass Pellets MARKET KEY PLAYERS:

 

• Pinnacle Renewable Energy ( Canada)
• Fram Fuel (US)
• Premium Pellets Limited(Canada)
• Westervelt Company(US)
• New England wood pellet (US)
• Forest Energy Consumption (US)
• Zilkha Biomass Energy ( US)
• Enviva (US)