According to a new report, published by KBV research, The Global Wood Pellets Biomass Boilers Market size is expected to reach $11.4 billion by 2030, rising at a market growth of 13.9% CAGR during the forecast period.
The global energy landscape has undergone a profound transformation in recent years, driven by escalating environmental concerns, dwindling fossil fuel reserves, and the urgent need to mitigate climate change. Amid this paradigm shift, renewable energy sources have emerged as pivotal pillars of sustainable development, offering viable alternatives to traditional fossil fuels and promising a cleaner, greener future. Within this context, these boilers have garnered considerable attention as a versatile and environmentally friendly heating solution, poised to play a pivotal role in the transition towards a low-carbon economy.
The Residential segment led the Global Wood Pellets Biomass Boilers Market by Application in 2022; thereby, achieving a market value of $7.1 Billion by 2030. Growing awareness of environmental issues and the need for sustainable energy solutions has led many homeowners to seek alternatives to fossil fuel-based heating systems. Wood pellets biomass boilers offer a renewable and carbon-neutral heating option, making them attractive to environmentally conscious consumers. Thus, these aspects will boost the demand in the segment.
The Fully Automated Biomass Boiler segment is growing at a CAGR of 13.4 % during the forecast period. Fully automated biomass boilers offer users convenience and ease of operation compared to traditional manual or semi-automated systems. With automated fuel feeding, ignition, combustion control, and cleaning processes, these boilers require minimal user intervention, making them attractive options for residential, commercial, and industrial applications. Thus, these aspects can help in the growth of the segment.
Full Report: https://www.kbvresearch.com/wood-pellets-biomass-boilers-market/
The Europe region dominated the Global Wood Pellets Biomass Boilers Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4 Billion by 2030. The North America region is anticipated to grow at a CAGR of 13.7% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 14.5% during (2023 - 2030).
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