The Global Peat Market size is expected to grow from USD 7.44 Million in 2022 to USD 23.08 Million by 2030, at a CAGR of 15.2% during the forecast period (2023-2030).
Peat Market encompasses the extraction, processing, and utilization of peat, an organic material formed from the partial decomposition of plant matter in waterlogged conditions over thousands of years. Peat is predominantly used as a growing medium in horticulture, agriculture, and landscaping due to its unique properties, including high water retention, aeration, and acidity.
Historically, peat has been a significant source of fuel for heating and cooking in regions where it is abundant. However, concerns over environmental sustainability and carbon emissions have led to a decline in peat extraction for fuel purposes in many countries.
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Top Company Profiles Included in the Peat Market:
Bord na Mona (Ireland), Premier Tech (Canada), CoCo Green (Pvt.) Ltd. (Sri Lanka), PEAT LAND UKRAINE LLC (Ukraine), Dutch Plantin B.V. (Netherland), Globalcoirs (Canada), Elva E.P.T. Ltd. (Estonia), Oulun Energia Oy (Finland), Global Peat Ltd. (Lativa), Jiffy International AS (Netherland), Klasmann-Deilmann GmbH (Germany), Lambert (US), Neova AB (Sweden), Stender AG (Germany), Neova Oy (Finland), Sun Gro Horticulture (US)
The report Peat Market report provides an in-depth analysis of the Peat Market including a detailed description of market growth and size, value, and the key opportunities in the market, as well as an outline of the factors that are and will be driving the industry's growth, taking previous growth patterns into account. The global Peat Market Report provides an in-depth analysis of the market state of Peat Market manufacturers, including the latest facts and data, SWOT analysis, and expert views from around the world. The cost structure, market size, Peat Market sales, Gross Margin and Market Share, Price, Revenue, Size, Forecast, and Growth Rate are all calculated in the report. The income earned from the sale of This Study and technologies by various application industries is considered in the report.
Segmentation Analysis of Peat Market:
The Peat Market can be segmented in various ways to understand better and cater to consumers' diverse needs and preferences. Here are some common segmentation criteria for the Peat Market
By Type
- Coco Peat
- Sod Peat
- Other
By Material
- Fabric
- Hemic
- Sapric
- Others
By Application
- Agriculture
- Domestic
- Fuel & Energy
- Medicine
- Others
Share Data Market Segment by Regions and Countries Level Analysis:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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Market Dynamics of the Peat Market
The global market for peat has been driven by an increase in demand for natural and organic matter. Increased environmental concerns and awareness of the necessity of renewable energy sources indicate that non-renewable energy sources will be depleted in the future. Due to population growth, there is also a rise in demand for power generation. Renewable energy use grew by 3% in 2020, while demand for all other fuels fell. The biggest cause was a nearly 7% increase in renewable-energy-generated power. Despite decreasing electricity demand, supply chain issues, and building delays in many parts of the world, renewables development was fueled by long-term contracts, priority access to the grid, and the continuing installation of new plants. As a result, renewables will account for 29 percent of worldwide electricity generation in 2020, up from 27 percent in 2019. The industry's usage of bioenergy increased by 3%, but this was substantially offset by a drop-in biofuel, as lower oil demand lowered the use of blended biofuels. Renewable power output is expected to grow by more than 8% in 2021, reaching 8 300 TWh, the highest annual growth rate since the 1970s. Solar PV and wind are expected to account for two-thirds of future renewable energy growth. In 2021, China alone is expected to account for about half of the global increase in renewable electricity, with the United States, the European Union, and India following closely after.
Our Free Sample Report Includes in Peat Market:
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- Share & Trends
- Includes Updated List of tables & figures
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- Sales Volume, and Revenue Analysis
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