In certain part of the world, peat is harvested as a vital source of fuel. By volume, there are about 4 trillion cubic meters (5.2 trillion cubic yards) of peat all over the globe, covering a total of around 2% of the global land area (about 3 million square kilometers or 1.2 million square miles), containing approximately around 8 billion terajoules of energy. Over the time, the formation of peat is often the first step in the geological formation of other fossil fuels such as coal, particularly low-grade coal such as lignite. Factors considering the market growth includes rising demand of electricity accounting growing population, water treatment and horticulture, and increasing industries of alcoholic beverages. However, the increasing popularity for bio-fuels and improvising development on bio-based peat products are expected to provide huge growth opportunities for the market.

The global peat market size is accounted at USD xx billion in 2018 and expected to project the value of USD xx billion in 2025 efficiently growing with a CAGR of x.x% during the forecast period.

Peat, also known turf is an accumulation of partially Decayed vegetation or Organic Matter. The peat is usually used in agriculture or gardening for increasing the nutritive value of the soil. It is generally being formed in wetland temperatures as it slows down the rate of decomposition of flood obstructing the flow of oxygen from the atmosphere. Increasing usage of biofuels favors the turf market growth, evolution of bio-medical peat products, rising demand for electricity generation due to growing population and growth opportunities/investment opportunities.

Leading players of the global peat market include Klasmann-Deilmann GmbH, Bord na Mona PLC, SMS Exports, Vapo Oy, Premier Tech, Sun Gro Horticulture, Lambert, Jiffy Products, REkyVA, Dutch Plantin, Turveruukki Oy, and Coco Green.

The global peat market is characterized by several segments such as type, applications, region, and key players. Based on the type, the market is segmented to sod peat, coco peat, and others. On the basis of applications, the market is segmented to agriculture & horticulture, fuel & energy, domestic, medicine, water filtration, and other applications. The global peat moss market holds a significant share in the agriculture segment owing to increase consumption of peat in the sector. It provides admirable capability to retain the moisture in the soil mainly during the product is in a dry state and need to protect the soil from the water.

Peat is used for the production of pasture and crops in the field. This acts as an opportunity as the countries with ever growing population needs more produce. Along with the increasing population, the Asia Pacific region is anticipated to witness high growth in the market due to the fast urbanization that however lead to an excessive demand for the product in various countries.

Key segmentation of the Global Peat Market

The Global Peat Market is segmented by two types:

By Type:

• Sod Peat
• Coco Peat
• Others

By Application:

• Agriculture and Horticulture
• Fuel and Energy
• Domestic
• Medicine
• Water Filtration
• Other Application
• Materials Covered:
• Hemic
• Sepric
• Fabric
• Other Materials

Regions Covered:

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• Italy
• France
• Spain
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Australia
• New Zealand
• South Korea
• Rest of Asia Pacific
• South America
• Argentina
• Brazil
• Chile
• Rest of South America
• Middle East & Africa
• Saudi Arabia
• UAE
• Qatar
• South Africa
• Rest of Middle East & Africa

What to expect from the upcoming report on ‘Global Peat Market:

- Future prospects and current trends of the global peat market by the end of forecast period (2018-2025)

- Information regarding technological progressions as well as innovations taking place in developing economies

- Supportive initiatives by government likely to influence the market dynamics

- Trends, drivers, opportunities, restraints, challenges and key developments in the market

- In-depth analysis of different market segmentations including regional segmentations, and product types

- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market

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Smart device providers, IoT app and service providers, Integration service providers, Facility management providers, Workplace solution providers and Building management companies looking for insights into the market to determine future strategies.