Power Segment is Expected to Dominate the Global Biomass Gasification Market
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, 2028”. Global Biomass Gasification is
anticipated to project robust growth in the forecast period with a CAGR of
8.58% through 2028. Biomass is organic matter that is obtained from plants and
animals. It is a renewable source that can be used for generating energy. It is
capable of providing energy in form of heat as well as electricity upon burning
and later turning the heat into electricity. Biomass Gasification is a process
in which organic and fossil fuels are converted into gases. It is carried out
through a controlled amount of oxygen and steam without any combustion. This
process is carried out at high temperatures without allowing the matter to burn
or combust. Biomass Biomass Gasification is a process where biomass obtained
from organic matter is converted into gases such as carbon dioxide, hydrogen,
and carbon monoxide in a controlled environment. This process is carried out
through different gasifiers. Carbon monoxide hence produced reacts with water
in a water-gas shift reaction and produces more hydrogen and carbon dioxide
from which hydrogen is further used as fuel.
Biomass
Biomass Gasification is gaining momentum owing to several factors, one of them
being a municipal solid waste. MSW consists of biomass such as paper,
cardboard, wood chippings, leaves, and leather products, and non-biomass
products such as plastic, glasses, and metal. There are several concerns linked
to municipal solid waste (MSW). Handling and managing MSW has raised so many
questions as disposing of such huge amounts of waste, directly and indirectly,
impacts the earth’s environment. According to the U.S. Energy Information
Association (EIA), in 2018, a total of 12% of total MSW was burnt in
waste-to-energy biomass Biomass Gasification plants. MSW is used for producing
energy which has led to increased contribution from the source in the biomass Biomass
Gasification market. It acts as a driving factor for the biomass Biomass
Gasification market 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 application dominated
the market share and is expected to grow at a higher CAGR during the projection
period. This can be attributed to the fact that the power sector is actively
working on an energy transition from coal-based to economical and
environmentally friendly options, biomass is expected to grow its contribution
with increased advancements in Biomass Gasification technology. The electric
power sector uses wood and biomass-derived wastes to generate electricity for
sale to the other sectors. Biomass energy provided about 4.8 quadrillion Btu
and is equal to about 5% of total U.S. primary energy consumption. The U.S. had
a total of 9% consumption of biomass energy in the power sector for the year
2021.
Based
on Region, Europe will dominate the market, Europe region has the presence of
major industry players which contributed towards its dominance in the market
share for 2021. It is expected to continue as it is actively working on its
energy shift towards renewable sources for primary energy production which will
act as a strong driving factor for the market growth. Europe is 90% dependent
on imported fossil gas and offers no significant support to ensure the fast
deployment of renewable gases.
Key
market players in the Global Biomass Gasification Market are following: -
- Vaskiluoto
Voima Oy
- Beltran
Technologies, Inc.
- Valmet
Corporation
- KASAG
Swiss AG
- Goteborg
Energi AB
- Ankur
Scientific Energy Technologies Pvt. Ltd.
- Thyssenkrupp
AG
- Infinite
Energy Pvt. Ltd.
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“The
global biomass gasification market is influenced by multiple key drivers that
underscore its significance in the sustainable energy landscape. Increasing
renewable energy mandates and government policies aimed at curbing carbon
emissions have fueled the adoption of biomass gasification. Growing
environmental concerns and a commitment to mitigating climate change contribute
to its appeal as a clean energy solution. Technological advancements play a
crucial role, enhancing efficiency and reducing costs, thereby bolstering the
commercial viability of biomass gasification technologies. This progress
includes improved gas cleaning and purification techniques, ensuring compliance
with stringent environmental standards.
The
diversification of biomass sources, coupled with the utilization of waste
materials, broadens the scope of biomass gasification. Its role in rural
development and job creation, particularly by utilizing locally available
biomass resources, adds an economic dimension to its attractiveness.
Additionally, biomass gasification serves as a dual-purpose solution,
addressing waste management challenges while producing renewable energy.
Corporate sustainability initiatives and a global shift towards greener practices
further stimulate market growth, as businesses increasingly integrate biomass
gasification into their strategies to meet environmental targets. Collectively,
these factors position biomass gasification as a pivotal player in the global
transition to sustainable and environmentally 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 2018-2028 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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