Wood fuel production in the US increased significantly from 2013 through 2018, reaching 71.609 million cubic meters. However, 2019 saw a slight decline, followed by a significant drop in 2020. Production rebounded in 2021 and 2022, peaking at 76.23 million cubic meters in 2022. By 2023, production slightly decreased to 75.998 million cubic meters. Forecasts predict a gradual decline from 2024 to 2028, with values stabilizing around 75 million cubic meters.
Recent two-year trend revealed:
- 2021: +17.49% YoY
- 2022: +7.2% YoY
- 2023: -0.3% YoY
Last five-year CAGR (Compounded Annual Growth Rate):
- +1.2%
Future Trends to Watch For:
- Sustainability and renewable energy policies could impact production.
- Technological advancements in biofuels may influence wood fuel demand.
- Market dynamics and competition from alternative energy sources.
