Wood Pellets Biomass Boilers Market to Reach $17.4 Billion Globally by 2032 at 14.3% CAGR

Allied Market Research

The growing awareness & emphasis on renewable energy solutions, advancements in biomass boiler technology, and the global shift towards carbon neutrality and sustainability are projected to drive the global wood pellets biomass boilers market's growth during the forecast period. The Europe region is predicted to witness prominent growth by 2032.

PORTLAND, Ore., April 23, 2024 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Wood Pellets Biomass Boilers Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global wood pellets biomass boilers market generated $4.6 billion in 2022, and is anticipated to generate $17.4 billion by 2032, rising at a CAGR of 14.3% from 2023 to 2032.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A300158

Prime Determinants of Growth

The increasing awareness & emphasis on renewable energy solutions, potential cost savings with wood pellets biomass boilers compared to traditional heating methods, and supportive policies & financial incentives by governments across the globe are the factors expected to drive the growth of the global wood pellets biomass boilers market in the forecast period from 2023 to 2032. However, higher upfront costs & installation expenses and increased maintenance requirements may hamper the market growth in the coming future. On the contrary, advancements in biomass boiler technology and global shift towards carbon neutrality & sustainability are expected to offer remunerative opportunities for the expansion of the wood pellets biomass boilers market during the forecast period.

Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$4.6 billion
Market Size in 2032	$17.4 billion