Zion Research has published a new report titled “Global Biomass Pellets Market for Residential and Industrial applications: Global Market Perspective, Comprehensive Analysis and Forecast, 2014 - 2020.” According to the report, global biomass pellets was valued at USD 4.52 billion in 2014 and is forecast to reach USD 8.34 billion in 2020, growing at a CAGR of 10.9% between 2015 and 2020.
Biomass pellets are mainly used as a heating fuel. The use of biomass pellets for heating and as a source of fuel has increased extremely during recent years. Use of biomass pellets in different residential and industrial applications such as pellet stoves or boilers over old-style wood-fired equipment has been increase significantly over the past few years. Biomass pellets are normally obtained from various sources including the timber industry, sawdust, sugarcane crop, woody plants, and switch grass etc. The use of biomass pellets is increased in power generation. It is ideally used as a substitute for materials used as a source of fuel for heating and power generation purposes.
Browse the full "Global Biomass Pellets Market for Residential and Industrial applications: Global Market Perspective, Comprehensive Analysis and Forecast 2014 - 2020" report at http://www.marketresearchstore.com/report/global-biomass-pellets-market-for-residential-and-industrial-35999
The global biomass pellets market can be classified into two application segments such as residential applications and industrial applications. The global biomass pellet market was led by the industrial application, accounting for a largest share of over 55% in 2014. However, residential segment is expected to witness rapid growth rate compared to industrial segment through forecast period.
Renewable energy such as solar and wind power are only available for certain periods of the month. Biomass is the only renewable energy source that is independent on the weather and is available all over the period of power...