Yahoo Finanzen Europe Wood Pellet Heating System Industry is Expected to Reach US$ 8,082.8 Million by 2034, with a 3.50% CAGR Growth | Future Market Insights, Inc.
Growth and expansion of semiconductors industry especially in the emerging ones, growing accessibility to low cost labour and abundant raw materials, rising up gradation of existing infrastructure with advanced systems and increasing infrastructural development activities especially in the developing economies are the major factors attributable to the growth of wood pellet heating systems market.
NEWARK, Del, April 02, 2024 (GLOBE NEWSWIRE) -- The Europe wood pellet heating system market is estimated to be worth US$ 5,730.1 million in 2024 and is projected to be valued at US$ 8,082.8 million in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 3.50%.
Numerous European countries have put supportive laws and incentives in place to encourage using renewable energy sources, such as wood pellets. These laws might set renewable energy goals, tax breaks, grants, and subsidies, all of which would foster a climate conducive to the growth of the wood pellet heating sector.
The public's knowledge of the advantages of utilizing renewable energy sources, such as wood pellets, for the environment has grown. Customers are more eager to spend money on eco-friendly heating solutions as environmental concerns gain popularity, driving the market growth in Europe.
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The necessity for sustainable energy solutions and renewable heating sources like wood pellets has increased awareness of climate change. Wood pellet heating systems are becoming increasingly popular among consumers and companies who want to lessen their carbon footprint and support environmental preservation.
Wood pellet heating systems are renowned for their excellent efficiency and minimal emissions compared to conventional heating systems. Wood pellet heating systems are becoming a more appealing choice as consumers and companies prioritize energy efficiency to lower energy expenses and their environmental effects.
Key Takeaways
From 2019 to 2023, Europe's wood pellet heating system market expanded at a CAGR of 2.70%.
Based on the product type, the stoves segment is expected to account for a market share of 44.70% in 2024.
The demand for wood pellet heating system market in Italy is predicted to grow at a CAGR of 2.9% through 2034.
In Germany, the wood pellet heating system industry is estimated to register a CAGR of 4.4% from 2024 to 2034.
Spain is projected to expand by a CAGR of 3.5% between 2024 and 2034.
The wood pellet heating system in France is anticipated to record a CAGR of 3.1% during 2034.
“The development of wood pellet heating systems in Europe has been fueled by a confluence of variables including economic incentives, regulatory assistance, technological breakthroughs, and environmental consciousness,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape
Companies invest in research and development to enhance wood pellet heating systems' performance, efficiency, and features. This includes developing advanced control systems, improving combustion technology, and designing aesthetically pleasing products to meet consumer preferences.
The British energy company Drax Group PLC announced in February 2021 that it will acquire Pinnacle Renewable Energy Inc., a Canadian manufacturer of wood pellets. The deal was completed in April 2021. After buying Pinnacle's 11 properties, Drax will now hold 17 pellet factories and development projects.
Top Key Players in the Europe Wood Pellet Heating System Industry
Ferroli S.p.A.
BioCurve
Burkhardt GmbH
Linea Trovata
HAAS + SOHN OFENTECHNIK GMBH
Erwin KOPPE - Ceramic Heaters GmbH
Fröling GmbH
Biotech Energietechnik GmbH
KWB - Kraft und Wärme aus Biomasse GmbH
Gilles Energie- und Umwelttechnik GmbH & Co KG
More Valuable Insights Available
Future Market Insights offers an unbiased Wood Pellet Heating System Industry Analysis in Europe, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand opportunities in the industry, the market is segmented based on Product type ( Boilers, Stoves, Fireplaces, Biomass Gasifiers ) By End Use (Residential, Commercial, Industrial )Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa)
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Key Segments of Europe Wood Pellet Heating Systems Industry Survey
By Product:
Boilers
10 kW
10 - 50 kW
50 kW - 200 kW
200 kW - 500 kW
500 kW - 1,000 kW
1,000 kW - 5,000 kW
Stoves
Fireplace
Biomass Gasifiers
By End Use:
Residential
Commercial
Industrial
By Country:
Spain
Germany
Italy
France
Russia
Ukraine
Rest of Europe
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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