Fuelwood Market to Witness Steady Growth Driven by Rising Demand for Biofuels and Increasing Government Regulations Aimed at Reducing Carbon Emissions
NEW YORK, March 10, 2023 (GLOBE NEWSWIRE) — IndexBox, a leading market research firm, has just published a new report on the global fuelwood market. The report provides a comprehensive analysis of the market, including market size, market forecast till 2030, growth drivers and challenges, key statistics, and an overview of the major consuming industries. Trial access to market data is available on the IndexBox platform, and the report can be found on their website: REQUEST FREE TRIAL
The report forecasts that the global fuelwood market will continue to grow steadily over the next decade, driven by a rising demand for renewable energy sources and increasing government regulations aimed at reducing carbon emissions. The market is expected to grow at a CAGR of 3.2% from 2023 to 2030. The residential heating segment is expected to be the largest end-user segment, accounting for more than half of global consumption.
Some of the key growth drivers identified in the report include increasing demand for biofuels, rising global population, and growing awareness about the environmental impact of fossil fuels. However, the market faces several challenges, including supply chain issues, deforestation, and low profitability.
The report also highlights the factors affecting demand, such as the price of crude oil, government policies, and technological advancements. The major consuming industries include residential heating, industrial boilers, and power generation.
The largest market for fuelwood is Asia-Pacific, accounting for more than 50% of global consumption. The region is expected to maintain its dominance over the next decade due to rising demand from countries such as China, India, and Indonesia.
The largest manufacturers in the industry include Enviva, Drax Group, and Pinnacle Renewable Energy Group.
The fuelwood industry is expected to continue its growth trajectory over the next decade, driven by increasing demand for renewable energy sources. However, industry players must address the challenges facing the industry to ensure its sustainability in the long term.
For more information about the report or IndexBox’s market research services.
CONTACT: Please contact Mekhrona Dzhuraeva, Editor, at [email protected].
