Global Biomass Gasification Market to be Driven by Rising Environmental Issues During the Forecast Period 2021-2026
Expert Market Research’s new report titled, “Global Biomass Gasification Market Report and Forecast 2021-2026”, provides an in-depth analysis of the global biomass gasification market, assessing the market based on its segments such as source and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): 91 billion USD
- Forecast CAGR (2021-2026): 7%
- Projected market size (2026): 150 billion USD
Biomass is a viable alternative to coal-based electricity generation. Companies are gradually turning to environmentally friendly energy sources in response to growing environmental problems and rising greenhouse gas emissions. As a result, the demand for biomass has grown at a much faster rate than the demand for other energy sources. During the forecast period, government support through various policies and regulations, as well as abundant availability of biomass, are some of the other factors that will drive the growth of the market.
Industry definition and major segments
Through a series of thermochemical reactions, biomass gasification converts the solid biomass fuel into a gaseous fuel gas (known as the produce gas).
The market is split 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 gasification systems have been installed in India for on-grid and off-grid projects. In addition, more than 300 rice mills and other industries use gasification systems to meet their captive energy and thermal applications. In addition, nearly 70 biomass gasification systems supply electricity to more than 230 villages in India. All these factors are expected to propel the biomass gasification market forward.
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Main market players
The major market players are Thyssenkrupp AG, Siemens, Synthesis Energy Systems Inc., Mitsubishi Heavy Industries Ltd. and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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