Gasification Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Gasification Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 3,97,563.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.8% and is expected to reach a valuation of US$ 6,35,358.7 Mn by 2032 end.
Throughout the projected period, the market for thermal conversion of biomass, coal, and other carbonaceous solid materials is growing as the demand for clean cooking and heating fuels increases worldwide.
ChemView Consulting has analyzed that Biomass gasification is a thermal conversion process that utilizes biomass as an energy source to transform it into clean and renewable fuels. Doing so allows the use of carbon dioxide and other waste gases as well as excess heat from the process, which helps reduce the impact on the environment. Increased demand for biomass gasification has increased investment in the sector, and further investments will further boost its growth during the forecast period.
The increased focus on sustainable energy sources such as biogas and biomass gasification has resulted in heavy competition among companies operating in this market. This has led to several mergers & acquisitions (M&As), business alliances, and joint ventures among players operating in the sector.
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Segments Covered in Report
By Fuel:
- Wood
- Animal Waste
- Others
By Applications:
- Chemicals
- Liquid Fuels
- Power and Gas Fuels
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Gasification Market
- Based on the Fuel, The coal segment will lead the highest revenue, 40.0% of the market in 2021. The thermochemical process harnesses the full energy potential of the feedstock while reducing the costs associated with disposal and environmental impact.
- Based on the Application, In 2021, The chemical segment was projected to lead the global market. Synthesis gas is the plant’s primary product and is used in manufacturing various products. Most of it is consumed in the chemical industry, where ammonia, methanol, liquid fuels, and hydrogen are produced.
- Based on Region, the Asia Pacific market held a sizeable revenue share of 47.0%. The market growth in the Asia Pacific region can be attributed to several factors, such as the rising demand for energy, significant coal reserves, and the increasing demand for clean energy technologies.
Competition Summary
Key companies covered in the market study are Air Liquide, Shell, Mitsubishi Heavy Industries, ANDRITZ, Thyssenkrupp ag, Synthesis Energy Systems, Inc., Larsen & Toubro Limited, Dakota Gasification Company, EQTEC plc GE, Air Products, Sedin Engineering Company Limited.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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