Peat Market Growth to be Propelled by a CAGR throughout 2022 – 2030 on the Back of Rising Usage of Renewable Energy Sources Globally

Research Nester published a report titled Peat Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global peat market in terms of market segmentation by material type, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global peat market is estimated to occupy a large revenue by growing at a CAGR of ~14% during the forecast period, i.e., 2022 – 2030, owing to the escalating number of industrial activities around the world, growing use of renewable energy sources and high demand for food globally. Along from these, increasing population and electricity demand are also expected to drive market growth in the near future.

The global peat market is segmented by material type and application. Based on material type, the fibric segment is anticipated to grab the largest market share during the forecast period on the back of high usage of fibric peat in several applications globally. Additionally, by application, the agriculture segment is projected to acquire the largest share over the forecast period ascribing to increase in use of peat to produce organic fertilizer and as a garden soil.

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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Europe region is evaluated to grab the largest share in the market during the forecast period attributing to the presence of large number of peatlands in Scandinavia and British Isles, and growing usage of peat as a fuel in the region.

Growing Usage of Renewable Energy Sources to Drive Market Growth

Since the last decade, the world is highly emphasizing on generating energy that produces minimal to no greenhouse gas emissions and helps in the reduction of various types of air pollution. This is considered to be a major factor anticipated to boost the growth of the market in the upcoming years.

However, concerns associated with the pollution caused by peat burning is expected to operate as key restraint to the growth of the global peat market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global peat market which includes company profiling of Elva E.P.T. Ltd., Global Peat Ltd, Stender AG, Oulun Energia Oy, Klasmann-Deilmann GmbH, PEAT LAND UKRAINE LLC, Klasmann-Deilmann GmbH, Neova Oy, Globalcoirs, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global peat market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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