Canada is #3 in the world in the production of wood pellets, an almost $10B sector that is growing fast year over year, FYI:
Wood Pellet Market Size Will Surpass $12.4 Billion by 2030 at 5.8% CAGR Growth | Vantage Market Research
According to Vantage Market Research, one of the key factors affecting the expansion of the Wood Pellet market is the growing need for
renewable and sustainable energy sources. More customers are looking for alternatives to conventional fossil fuels as worries about climate change and environmental sustainability continue to rise. Because they are renewable, carbon-neutral, and produce fewer greenhouse emissions than fossil fuels, Wood Pellets, created from compressed sawdust and other waste wood components, are desirable. A popular option for household and commercial heating systems, Wood Pellet stoves and boilers also become increasingly effective and affordable. As a result, the Wood Pellet industry is expected to expand in the upcoming years.
We forecast that the residential sector will account for more than 45% of all sales by 2030. This is because adopting renewable energy sources to heat houses and reduce carbon emissions is becoming increasingly popular. Wood Pellets provide homes with a cheap and sustainable answer in light of rising fossil fuel prices and the need to lessen reliance on non-renewable energy sources. Additionally, Wood Pellets are a popular option for household heating since they are simple to use and store. Additionally, it is anticipated that government policies and programs supporting renewable energy sources would increase demand for Wood Pellets in the residential sector.
WASHINGTON, July 11, 2023 (GLOBE NEWSWIRE) -- The Global Wood Pellet Market accounted for USD 8.4 Billion in 2022 and is expected to have USD 12.4 Billion by 2030 at a CAGR of 5.8% over the forecast period of 2023-2030. The Wood Pellet market is one of the fastest-growing markets economically...
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