Wood Pellets Market expected to drive its demand from the power plants applications
Wood Pellets Industry Overview The global wood pellets market size is expected to reach USD 18.22 billion by 2027, exhibiting a revenue-based CAGR of 9.4% during the forecast period, according to a new report by Grand View Research, Inc. Wood pellets can be used as an alternative for fossil fuels as they are eco-friendly, sustainable, and carbon neutral in nature. This factor is anticipated to drive the growth of the market. Wood Pellets Market Segmentation Grand View Research has segmented the global wood pellets market on the basis of application and region: Based on the Application Insights, the market is segmented into Power Plants, Residential Heating, Commercial Heating, and Combined Heat and Power (CHP). The commercial application segment is anticipated to show significant growth over the forecast period owing to increasing adoption of wood pellets for space heating in federal or municipal buildings, office buildings, educational facilitie...