LONDON--(BUSINESS WIRE)--The increasing use of biomass fuels is one of the critical reasons that will drive the wood fuels market growth. There is a rise in the number of regulations and agreements by various agencies to reduce GHG emissions. This is encouraging the use of alternatives such as bioenergy. The use of carbon-neutral energy sources such as biomass complies with government terms by achieving energy efficiency and reducing carbon emissions. This will consequently drive the adoption of wood-based biomass energy, thereby driving market growth during the forecast period. This industry research report also presents a competitive analysis of the market by product (wood pellets and wood chips) and geography (Americas, APAC, and EMEA).
Competitive vendor landscape
The global wood fuels market is highly competitive with major vendors such as Drax Group plc, Enviva Partners, LP, Fram Fuels, Oji Forest & Products Co., Ltd., and Pinnacle Renewable Energy Inc. competing based on price, quality, and product/service offerings.
“Distributed generation systems overcome high costs of tariff administration, metering and billing, and regulatory oversight. Wood biomass in the distributed energy generation sector also uses primary mill residues, forest residues, and clean urban wood waste. Moreover, the wood biomass-powered distributed energy generation system minimizes the amount of waste material to be processed by converting it into fuel, subsequently increasing the preference for wood fuels,” says a senior analyst at Technavio.
Top five wood fuels market vendors
Drax Group plc
Drax Group plc operates in three segments - power generation, B2B energy supply, and pellet production. The company manufactures compressed wood pellets, which are produced from sustainably managed working forests. The company owns and operates three wood pellet manufacturing plants in the US.
Enviva Partners, LP
Enviva Partners, LP offers energy-dense, low-moisture, uniformly sized wood fuels made of low-grade wood fibers, tops and limbs, and mill residues under Enviva Wood Pellets. It also provides wood chips made of low-grade wood and waste materials such as small wood tops and limbs, vines, and other woody debris under Enviva Wood Chips.
Fram Fuels offers premium wood pellets that are made from southern pine trees and also industrial pellets that are made mostly from pine trees with a minor percentage of hardwood.
Oji Forest & Products Co. Ltd.
Oji Forest & Products Co, Ltd. produces wood chips made from the unused timber left on the hillsides and waste timber from sawmills. It also recycles the wood from demolished house materials.
Pinnacle Renewable Energy Inc.
Pinnacle Renewable Energy Inc. runs its operations through two segments - finished wood pellets and port services. The company offers industrial-grade fuel pellets for clean biomass energy to customers in Europe, North America, and Asia. These pellets are made from the softwood residuals of operations using timber from certified forests. It also offers wood pellets for residential customers to generate heat from stoves and furnaces.
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