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.
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 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 the prominent market share and is expected to showcase significant growth to retain its dominance during the forecast period. The increasing adoption of wood pellets for space heating in federal or municipal buildings, office buildings, educational facilities, and other commercial buildings.
“UAE 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). UAE is among the leading country in the middle east, imported significant amount of wood pellet in 2020.
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• Deep dive regional level analysis of the industry
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