Biomass Gasification is anticipated to project robust growth in the forecast period with a CAGR of 8.58% through 2029
Renewable
Energy Mandates and Policies and Technological Advancements are the factors
propelling the market growth.
According
to TechSci Research report, “Global Biomass Gasification Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”. Global Biomass Gasification is
anticipated to project robust growth in the forecast period with a CAGR of
8.58% through 2029. Biomass,
derived from organic matter found in plants and animals, serves as a renewable
energy source capable of generating both heat and electricity through
combustion, followed by the conversion of heat into electricity. Biomass
gasification is a process that transforms organic and fossil fuels into gases
under controlled conditions of oxygen and steam, devoid of combustion. This
high-temperature process prevents burning or combustion of the matter. In
biomass gasification, organic biomass is converted into gases like carbon
dioxide, hydrogen, and carbon monoxide within a controlled environment using
various gasifiers. Subsequently, carbon monoxide reacts with water in a
water-gas shift reaction, yielding additional hydrogen and carbon dioxide, with
hydrogen utilized as a fuel source.
Biomass
Gasification, particularly fueled by municipal solid waste (MSW), is gaining
traction due to various factors. MSW encompasses biomass materials like paper,
cardboard, wood chippings, leaves, and leather, alongside non-biomass items
such as plastic, glass, and metal. However, managing MSW raises significant
concerns, as the disposal of large quantities of waste directly and indirectly
impacts the environment. According to the U.S. Energy Information
Administration (EIA), approximately 12% of total MSW was incinerated in biomass
gasification plants for waste-to-energy purposes in 2018. The utilization of
MSW for energy production has led to an increased contribution from this source
to the biomass gasification market, thereby driving its growth.
Browse
over xx market data Figures spread through 188 Pages and an in-depth TOC on " Global
Biomass Gasification Market.”
Based
on Application, Power segment is expected to hold the largest share of Biomass
Gasification market during the forecast period, The
power sector has commanded a significant market share and is projected to
experience a higher Compound Annual Growth Rate (CAGR) in the foreseeable
future. This growth can be credited to the active efforts within the power
industry to transition from coal-based sources to more cost-effective and
environmentally sustainable alternatives. With advancements in Biomass
Gasification technology, biomass is anticipated to expand its contribution to
the sector. In the electric power industry, wood and biomass-derived wastes are
utilized to produce electricity, which is then distributed to various sectors
for consumption.
Based
on Region, Europe will dominate the market, the
European region's market dominance was fueled by the significant presence of
key industry players. This trend is anticipated to persist, driven by ongoing
efforts to transition towards renewable sources for primary energy production.
This shift is poised to strongly propel market growth. However, Europe
currently relies heavily on imported fossil gas, accounting for 90% of its
energy supply, without providing substantial support for expediting the rapid
deployment of renewable gases.
Key
market players in the Global Biomass Gasification Market are following: -
- Synthesis Energy Systems Inc.
- Bellwether Recuperative Gasification Ltd
- SHANGHAI HAIQI ENVIRONMENTAL PROTECTION TECHNOLOGY CO., LTD.
- Infinite Energy
- Ankur Scientific Energy Technologies Pvt Ltd.
- Enersol Biopower Pvt.Ltd
- Thyssenkrupp AG
- SG H2 Energy
- Bio Energy Netherlands BV
- Yosemite Clean Energy
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“Several key drivers shape the global
biomass gasification market, highlighting its significance in sustainable
energy initiatives. The adoption of biomass gasification is propelled by
increasing renewable energy mandates and governmental regulations aimed at
reducing carbon emissions. Concerns about environmental impact and a commitment
to combating climate change also drive the demand for biomass gasification as a
clean energy solution. Technological advancements play a vital role by
improving efficiency and lowering costs, making biomass gasification
technologies more commercially viable. These advancements include enhanced gas
cleaning and purification methods to meet strict environmental standards. The diversification
of biomass sources, along with the use of waste materials, expands the
potential of biomass gasification. Its contribution to rural development and
job creation, particularly through the utilization of locally available biomass
resources, adds an economic dimension to its appeal. Moreover, biomass
gasification serves a dual purpose by addressing waste management challenges
while generating renewable energy. Corporate sustainability initiatives and a
global trend towards greener practices further drive market growth, as
businesses incorporate biomass gasification into their strategies to achieve
environmental objectives. Together, these factors position biomass gasification
as a key player in the worldwide transition towards sustainable and
eco-friendly energy solutions.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
Biomass
Gasification Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Source
(Solid Biomass, Liquid Biomass, Biogas, Municipal Waste, Others), By
Application (Chemical, Liquid Fuel, Gaseous Fuel, and Power), By Region, By
Competition 2019-2029 has
evaluated the future growth potential of Global Biomass Gasification Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Biomass Gasification
Market.
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