Biomass Gasification Market Research Report – Global Forecast till 2023
In the present era of energy scarcity and depleting energy reserves, biomass gasification has gained widespread acceptance as a means of producing diverse forms of energy. Biomass gasification involves the thermo-chemical conversion of biomass into a combustible gas mixture. Market Research Future (MRFR) has recently released an exhaustive report on the global biomass gasification market which covers essential accruals derived from analyzing the various trend and patterns prevalent in the market. MRFR has predicted a CAGR of 8.50% in the market over the forecast period of 2016-2023.
Heightened emphasis on the reduction of green-house gas emissions and a shift towards renewable energy resources have favored the biomass gasification market. Moreover, numerous independent power producers (IPPs), Energy Service Companies (ESCOs), industries, Co-operatives, SHGs, NGOs, and promoters & developers are actively involved in biomass gasification development programs which further drive the market growth. Moreover, interest in biomass gasification has witnessed a surge as it reduces the need for landfill space for disposal of solid wastes and reduces methane emissions from landfills.
Biomass gasification projects have also started securing funds from the governments in various countries, which add fuel to the growth of the market. Moreover, A number of commercial banks, venture capital, and private equity firms have exhibited heightened interest in funding renewable energy projects.
Biomass gasifiers are capable of operating at small scales as well as medium scale, which provides opportunities to various businesses. The technology is playing a key role in the electrification of rural and remote areas in the emerging economies. However, despite the achievement of significant progress, biomass gasification is still in its development stage. Low reliability and high cost as compared to combustion are likely to restrain the growth over the market over the forecast period.
The global biomass gasification market has been segmented based on fuel type and application.
By fuel type, the biomass gasification market has been segmented into wood, animal waste, and others.
By application, the biomass gasification market has been segmented into chemicals, liquid fuels, and power & gas fuel.
Region-wise, the biomass gasification market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The APAC biomass gasification market is anticipated to be the fastest0growing market over the forecast period. The high cost of importing Liquefied natural gas or LNG along with concerns regarding energy security has prompted the construction of new biomass gasification plants in APAC. Biomass gasification is extensively used in the emerging economies of the region for electricity generation. Moreover, due to a higher emphasis on the use of renewable energy resources, the use of biomass gasification has increased considerably. In India, various biomass gasification systems have been deployed for grid and off-grid projects. Moreover, more than 230 villages in India get electricity supply for almost 70 biomass gasifier systems. Currently, APAC has the largest number of gasification plants. Japan, China, India, and South Korea are the key contributors to the APAC biomass gasification market.
North America has abundant availability of cheaper natural gas in the region, which limits the growth of the biomass gasification in the region. However, the region is highly focused on the use of renewable energy resources and bosts of more than 30 biomass gasification plants in the US. In 2017, the global biomass gasification market was dominated by Europe.
Air Liquide, ThyssenKrupp AG, Kbr Inc, Mitsubishi Heavy Industries Ltd, Sedin Engineering Company Limited, General Electric, Synthesis Energy Systems Inc., Siemens, Cb&I, and Royal Dutch Shell Plc are the notable players in the global biomass gasification market.
May 2019 – EQTEC Plc, an Irish gasification technology supplier, entered into a partnership with Phoenix Biomass Energy Inc., a California-based power firm, to jointly develop a biomass gasification power project in the US. EQTEC will supply its proprietary Gasifier Technology (EGT) for each site, and five sites have already been identified for the same.
Biomass Gasification Market Research Report: Information by Fuel Type (Wood, Animal Waste, and Others), Application (Chemicals, Liquid Fuels, and Power & Gas Fuels), and Region – Global Forecast till 2023
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