Albany - NY, Oct. 19, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report, titled "Wood Pellets Market, by Application (Power Plants and Heating) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023". The report presents key insights into the factors shaping the growth trajectory of the global wood pellet market and is available on the company website for sale.
According to the findings of the report, the global wood pellet market, which stood at US$6.2 bn in 2014, is anticipated to reach US$20 bn by the end of 2023, rising at an impressive 14.10% CAGR. Robust growth of the global wood pellet market during the forecast period is majorly attributed to the increasing use of wood pellet in heating and power plants.
Browse Research Report: http://www.transparencymarketresearch.com/wood-pellet-market.html
The report segments the global wood pellet market into Asia Pacific, North America, Europe, Central and South America, and the Middle East and Africa, on the basis of geography. Implementation of stringent emission control standards in North America and Europe has greatly contributed to the development of the wood pellet market in the region. In addition, increasing awareness regarding greenhouse gas emissions in the aforementioned regions has also encouraged the use of wood pellets as the most preferred substitute to fossil fuels for power generation.
The global market for wood pellets is gaining a significant momentum from the prominent companies in the energy sector, who are proactively increasing the usage of renewable technologies. This is anticipated to continue over the next few years, thereby fuelling demand from the wood pellet market. The report profiles a few of these companies, which include F. E. Wood and Sons, Andritz AG, Georgia Biomass, LLC, Drax, Rentech, Inc., Enito Singpellet Pte Ltd, and The Westervelt Company.
Transparency Market Research (TMR) is a U.S.-based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR's exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
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Source:Transparency Market Research