Middle East Wood Pellets Market: Current Analysis and Forecast (2021-2027)

$3499$6799

Emphasis on Application (Heat, Combined Heat Power (CHP), Power); End-User (Residential, Commercial, Industrial); Region/Country

Published:

Sep-2021

Pages:

162

Table:

37

Figure:

88

Report ID:

UMEP21434

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

The Middle East wood pellet market was stood at $2.5 million in 2020 and is likely to showcase double digit growth during the forecast period (2021-2027). Government in the Middle East countries are working on various regulations implementing clean energy sources. For instance, in Dubai, the Supreme Council of Energy announced an implementation plan for the Dubai Clean Energy Strategy 2050 to enhance the sustainable development of Dubai, a year after the launch of the national strategy by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and ruler of Dubai. In May 2020, Dubai Electricity and Water Authority (DEWA) announced that the share of clean energy in Dubai’s energy mix had increased to around 9%. This exceeds the target set in the Dubai Clean Energy Strategy 2050, which aimed to provide 7% of Dubai’s total power output from clean energy sources by 2020 and 75% by 2050. DEWA’s total installed capacity is 11,700 megawatts (MW) of electricity.

Moreover, as per Energy Outlook, the global carbon dioxide emissions are projected to rise by 29% in 2035, with all the growth coming from the emerging economies. This can have severe effect on the environment and can be reduced with the adoption of cleaner sources such as wood pellets for heat energy

Furthermore, the increasing population and rapid urbanization has been significantly increasing the energy consumption in middle east region countries. According to the United Nations International Children’s Emergency Fund (UNICEF) the population of the Middle East will increase from 484 million in 2018 to 581 million in 2030 and 724 million in 2050. Between 2018 and 2030, the population is forecast rise by almost 1.7% annually and between 2030 and 2050 by just over 1.2% annually. By far the largest country demographically is Egypt, and its population is forecast to rise by almost 1.8% annually between 2018 and 2030 and by almost 1.4% annually between 2030 and 2050.

Middle East Countries Population, 2018-2050 (millions)

German Pellets GmbH, Pinnacle Renewable Energy Inc., Energex, Enviva LP, Segezha Group JSC, Drax Group plc, AS Graanul Invest, Biopower Sustainable Energy Corp., Lignetics, Canfor are some of the prominent players operating in the Middle East Wood Pellets market. Several M&A’s along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst application, heat is anticipated to grow at the highest CAGR during the analyzed period”

Based on application, the market is fragmented into heat, combined heat power (CHP), and power. In 2020, heat accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period owing to increasing inclination towards using recyclable energy sources for heating and other related activities.

 “Amongst end-users, commercial segment is anticipated to grow at the highest CAGR during the analyzed period”

Further based on end-users, the market is fragmented into industrial, residential, and commercial. In 2020, commercial segment accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period owing to the increasing adoption of wood pellets for space heating in federal or municipal buildings, office buildings, educational facilities, and other commercial buildings.

“Saudi Arabia signifies one of the largest markets of Wood Pellets Market”

For a better understanding of the market dynamics of the Wood Pellets market, a detailed analysis was conducted for different regions across the globe including Middle East (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain, Turkey, and Rest of Middle East). Saudi Arabia dominated the market and generated revenue of USD XX billion in 2020 owing to the owing to the increasing government initiatives. For instance, in 2021 the overall GDP growth was around 4.8% and is expected to be 6.3% year-on-year in 2022.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The Wood Pellets Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Middle East Wood Pellet Market Study

2.1 Research Methodology for the Middle East Wood Pellet Market
2.1.1 Main Objective of the Middle East Wood Pellet Market

7.1 Heat
7.2 Combined Heat Power (CHP)
7.3 Power

8.1 Industrial
8.2 Residential
8.3 Commercial

9.1 Saudi Arabia
9.2 UAE
9.3 Qatar
9.4 Kuwait
9.5 Oman
9.6 Bahrain
9.7 Turkey
9.8 Rest of Middle East

10.1 Market Drivers
10.2 Market Challenges
10.3 Impact Analysis

14.1 Demand Side Analysis
14.2 Supply Side Analysis
14.2.1 Top Product Launches
14.2.2 Top Business Partnerships
14.2.3 Top Business Expansions, Investments and Divestitures
14.2.4 Top Merger and Acquisitions

16.1 Porter’s Five Forces Analysis
16.1.1 Bargaining power of Supplier
16.1.2 Bargaining power of Buyer
16.1.3 Industry Rivalry
16.1.4 Availability of Substitute
16.1.5 Threat of new Entrants
16.2 Competitive Landscape
16.2.1 Company Shares, By Revenue

17.1 Drax Group plc
17.1.1 Key Facts
17.1.2 Business Description
17.1.3 Key Product/Services Offerings Revenue Split
17.1.4 Growth Strategy Financial Overview of Drax Group plc
17.1.5 SWOT Analysis
17.1.6 Key Financials Product Launch
17.1.6.1 Partnerships
17.1.6.2 Business Expansion and Investments
17.1.7 Recent Developments Merger and Acquisition
17.1.7.1 Product Launch
17.1.7.2 Partnerships
17.1.7.3 Business Expansion and Investments
17.1.7.4 Merger and Acquisition
17.2 Pinnacle Renewable Energy Inc.
17.3 Energex
17.4 Enviva LP
17.5 Segezha Group JSC
17.6 German Pellets GmbH
17.7 AS Graanul Invest
17.8 Biopower Sustainable Energy Corp.
17.9 Lignetics
17.1 Canfor

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Middle East Wood Pellets Market were the three major steps undertaken to create and analyze the adoption of Wood Pellets due to increased population and rapid urbanization. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Wood Pellets sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Wood Pellets through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Wood Pellets market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are application and end user. Further country-level analyses were conducted to evaluate the overall adoption of Wood Pellets in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Wood Pellets. Further, we conducted factor analysis using dependent and independent variables such as rising e-commerce industry and Rapid growth in the manufacturing industries. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Wood Pellets industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Wood Pellets market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets Middle East. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (USD) and the adoption rate of Wood Pellets across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Wood Pellets market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Wood Pellets market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the application and end user of the Wood Pellets market.

Main Objective of the Wood Pellets Market Study

The current & future market trends of Wood Pellets were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Wood Pellets in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of application and end users
  • Define and analysis of the regulatory framework for the Wood Pellets industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Wood Pellets market for the major region
  • Major regions studied in the report include Middle East (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain, Turkey, and Rest of Middle East)
  • Company profiles of the Wood Pellets market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry