Global Wood Fuels Market 2019-2023
About this market
The The regulations for GHG emissions and the use of bioenergy in heating systems will trigger the wood fuels market growth during the forecast period. The US EPA has been developing common-sense regulatory initiatives for reducing emissions and improving efficiency in emission reduction. In addition, the US EPA has also been supporting the use of CHP due to its cost-effective reduction in GHG emissions and improved fuel efficiency. Some governments are also imposing mandatory obligations and incentives including grants, subsidies, and energy taxes, which, in turn, have increased the share of wood fuels market during the forecast period. Technavio’s analysts have predicted that the wood fuels market will register a CAGR of nearly 9% by 2023.
Increasing the use of biomass fuels
One of the growth drivers of the global wood fuels market is the increasing use of biomass fuels. The increasing adoption of biomass fuel across the globe for power generation will support the growth of the global wood fuels market.
Challenges associated with CHP plants
One of the challenges in the growth of the global wood fuels market is the challenges associated with CHP plants. The challenges associated with the development of CHP plants restrict the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the wood fuels market during 2019-2023, view our report.
The market appears to be highly fragmented with the presence of several market players. Organization is focusing on developing top-quality products in minimal time at a low price to remain competitive in the market. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Wood Fuels Market 2019-2023
Technavio recognizes the following companies as the key players in the global wood fuels market: Drax Group plc, Enviva Partners, LP, Fram Fuels, Oji Forest & Products Co., Ltd., and Pinnacle Renewable Energy Inc.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising popularity of distributed energy generation.”
According to the report, one of the major drivers for this market is the increasing use of biomass fuels.
Further, the report states that one of the major factors hindering the growth of this market is the challenges associated with CHP plants.
Drax Group plc
Enviva Partners, LP
Oji Forest & Products Co.,Ltd.
Pinnacle Renewable Energy Inc.
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