The market for peat in Europe is being driven by a number of factors, with chief ones being the thriving agriculture and horticulture sectors, increased demand for electricity in the region and the use of peat as a conventional fuel for fueling power plants, and the healthy growth of several economies in the region. It is estimated that sustainable demand for peat from key end use sectors will allow Europe to remain the leading consumer of peat throughout the world over the forecast period as well.

Peat is also one of the key power generation resources used in the region for heating purposes and continues to witness demand from this segment as well. Over the report’s forecast period, the healthy economic growth of countries in the region is expected to lead to higher transport of peat between countries, driving the overall market.

Despite the presence of several growth opportunities, the is expected to exhibit growth at a nominal pace over the report’s forecast period. Key challenges hindering the overall growth prospects of the market include the unevenly spread deposits of peat across the region and environmental concerns related to carbon emissions. To be regarded as a primary form of fuel, especially for powering commercial-sized power plants, uniform availability of the product is one of the prime requisites. Failing in this regard, with only countries such as Finland and Ireland having large deposits and countries such as Poland, Spain, and the U.K. having no notable deposits, peat fails to serve certain application areas to the expected level.

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