The global wood pellet market was valued at US$10.491 billion in 2019 and is expected to grow at a CAGR of 14.47% over the forecast period to reach a total market size of US$23.604 billion in 2025. Wood pellets have risen as a reasonable and promising sustainable power source as a substitution of coal, particularly in Europe and North America. The pellet market has been seeing a gigantic development worldwide from the previous barely any years with expanding interest for both mechanical applications in huge scope power plants and little scope application in private warming frameworks.