PUBLISHER: Allied Market Research | PRODUCT CODE: 1225031
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225031
The global biomass gasification market was valued at $88.0 billion in 2021 and is projected to reach $188.5 billion by 2031, growing at a CAGR of 8% from 2022 to 2031.
Biomass gasification is the process of generating heat and hydrogen gas through controlled combustion of organic mass obtained for plants and animals. The increase in rural electrification rate, particularly in developing countries, has escalated the demand for decentralized electricity generation, which is majorly driving the global biomass gasification market toward growth. Besides this, the widespread acceptance of these systems for waste processing as a replacement for conventional techniques, such as incineration and landfill, is further fueling the market growth. Moreover, the leading market players and governments of various nations have been consistently investing in the development of advanced technologies, which is contributing to market growth. Even though electrification is happening at a very fast pace, still rural areas do not have access to electricity. Many villages have started to establish biomass plants for harvesting energy and use it in obtaining biogas for cooking and heat energy for electrification. Establishing these plants also reaps their incentives from the government through various schemes and subsidies which in turn benefits both parties. It also helps in reducing carbon emissions from smoke that comes through cooking by burning coal or wood in rural setups
For instance, the United States Depart of Energy (USDOE) is developing innovative and flexible modular designs through the Gasification Systems Program. This aids in the conversion of different types of US domestic coal blends, waste plastics, and municipal solid waste (MSW) into clean synthesis gas. The European Union has a target of a 55% reduction in greenhouse gas emissions by 2030 and a net zero ambition by 2050. It is critical that the legislative frameworks and associated policies enable a Just Energy Transition where no one is left behind. The aforementioned reasons act as driving factors for the region's growth which is expected to maintain its dominance during the forecast period. Slow growth in the LAMEA region was owing to the lack of technology. Moreover, higher installation costs also add up to several restraining factors of the market. However, technological advancements and government incentives offer opportunities for market growth during the projection period.
Furthermore, the rising development and commercialization of small- to large-scale biomass gasification systems combined with power generation equipment is positively influencing the market across the globe. However, the high capital required for installation and maintenance hampers market growth for biomass gasification. While the technological advancements prove to be a major challenge for the industry growth, technologies that will reduce tar production and increase plant efficiency are the need of the hour and thus will open wide opportunities
The biomass gasification market size is segmented on the basis of gasifier type, application, source, and region. Based on gasifier type, the market is segmented into moving or fixed bed, fluidized bed, entrained, and others. Fluidized bed gasifiers are expected to grow majorly during the projection period. Depending on the application, the market is divided into chemicals, liquid fuels, power, and gas fuels. Power application will be the highest growing application for biomass gasification during the forecast period. On the basis of source, the market is further classified into solid biomass, liquid biomass, biogas, municipal waste, and others. Solid biomass dominated the market share and is expected to grow its contribution at a higher CAGR over the projection period.
Region-wise, the biomass gasification market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). Region-wise, Europe is projcetd to lead the market growth during 2022-2031 owing to its 2030 targets for the reduction of carbon emissions. The key players in the biomass gasification industry are Beltran Technologies, Inc., Vaskiluodon Voima Oy, EQTEC plc, Chanderpur Works Private Limited, Ankur Scientific Energy Technologies Pvt. Ltd., Infinite Energy Pvt. Ltd., Valmet Corporation, KASAG Swiss AG, Goteborg Energi AB, and Thyssenkrupp AG.
Key Benefits For Stakeholders
By Gasifier type
By Application
By Source
By Region