Australia Briquette Market size is projected to grow at a CAGR of 7.9% during 2024-2030F

Charcoal briquette in terms of type accomplished the maximum revenue share in Australia Briquette Market – 6Wresearch

By type, charcoal briquette accounted for the highest revenue share in 2023 and would also be leading the market during forecast period on account of reliability and convenient availability, bolstered by a strong infrastructure for coal extraction, processing, and briquette manufacturing, which enhances accessibility and cost-effectiveness.

According to 6Wresearch, Australia Briquette Market size is projected to grow at a CAGR of 7.9% during 2024-2030F. In recent years, there has been a significant expansion in the Australian briquette market, fueled by ongoing construction activities and government housing initiatives like the Indigenous Home Ownership Program (IHOP). Moreover, the construction sector plays a pivotal role in driving briquette demand through various interconnected factors, including the production of building materials, infrastructure development, on-site heating, cooking, and compliance with environmental regulations.

The expected substantial growth in the briquette market is closely associated with the thriving construction and infrastructure sector. Increasing construction projects, such as residential developments like the $1 billion investment project at 28 Montague Street in Melbourne and the Pentridge Prison redevelopment scheduled for 2025, are boosting the demand for briquettes. Additionally, increased spending on social and economic infrastructure, as advocated by the Australian Construction Industry Forum (ACIF), further reinforces this growth trajectory.

The government's commitment to infrastructure development, with plans to invest $4.4 billion over four years until 2025-26, particularly in public transportation, aligns with the push for a more sustainable energy future. This emphasis is driving the demand for briquettes as a cleaner fuel source in construction and infrastructure projects throughout Australia. With the growing number of hospitality establishments, the demand for sustainable energy solutions like briquettes rises, driving market growth and offering opportunities for suppliers to meet the sector's evolving needs while contributing to environmental sustainability.

According to Dhaval, Research Manager, 6Wresearch, in the Australia Briquette Market, the commercial sector is poised for significant future growth, driven by regulatory mandates and the government's ambitious initiative to elevate the share of sustainable and renewable energy sources from 31% in 2023 to 82% by 2030. The uniformity, effectiveness and availability of briquettes add to their appeal in commercial settings.

Australia Briquette Market (2024-2030) report provides an in-depth analysis with 12 figures and 5 tables, covered in 62 pages. The report comprehensively covers the market by type and end use. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.