The new report by Expert Market Research titled, ‘Global Biomass Gasification Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global biomass gasification market, assessing the market based on its segments like source and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 107.52 Billion
- Forecast CAGR (2023-2028): 8.7%
- Forecast Market Size (2028): USD 177.24 Billion
Biomass is a feasible alternative to coal-based power generation. Companies are gradually moving to environmentally friendly energy sources in response to the rising environmental issues and rising greenhouse gas emissions. As a result, the demand for biomass has risen at a much faster rate than the demand for other energy sources. Over the forecast period, government support through various policies and regulations, as well as ample biomass availability, are some of the other factors that will drive the growth of the market.
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Industry Definition and Major Segments
Via a series of thermo-chemical reactions, biomass gasification converts solid biomass fuel into a gaseous combustible gas (known as producer gas).
The market is divided on the basis of source into:
- Solid Biomass
- Municipal Waste
- Liquid Biomass
Regionally, the industry can be segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
150 MW biomass gasifier systems have been installed in India for grid and off-grid projects. In addition, over 300 rice mills and other industries are using gasifier systems to meet their captive power and thermal applications. In addition, nearly 70 biomass gasifier systems are providing electricity to over 230 villages in India. All of these factors are expected to propel the biomass gasification market forward.
Key Market Players
The major players in the market are Thyssenkrupp AG, Siemens, Synthesis Energy Systems Inc., Mitsubishi Heavy Industries Ltd., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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