Wellesley, Massachusetts, Jan. 17, 2017 (GLOBE NEWSWIRE) -- Surge in Asian Markets Keying Growth in Global Markets for Gasifiers,
Reports BCC Research
Wellesley, Mass., Jan 17, 2017 – Recent improvements in the efficiency and environmental friendliness of gasifiers, as well as technology modifications, are driving growth in this global market. BCC Research reveals in its new report that global growth is expected to be about 150% of the global gross domestic product (GDP) growth rates, with substantial growth in Asia.
Gasification is a technology by which thermal breakdown is accomplished in a controlled, oxygen-starved atmosphere. The final products are gases, which can further be cleaned and then burned to produce energy, thus controlling and reducing toxic by-products while improving the efficiency of energy capture. Gasification adds value to low- or negative-value feedstocks by converting them into marketable fuels and products.
The global market for new gasifiers is expected to reach 1088 units by 2021, up from 887 units in 2016, rising at a five-year compound annual growth rate (CAGR) of 5.0%. Biomass-to-energy (BTE) applications, the largest market, should reach 653 units and 804 units in 2016 and 2021, demonstrating a five-year CAGR of 5.0%. Plasma applications as a segment is expected to reach 24 units in 2021, up from 16 units in 2016, demonstrating a five-year CAGR of 7.0%.
The need for environmentally friendly and efficient technologies for energy in the form of electricity, heat and liquid fuels is the main market driver. Coal remains one of the largest worldwide sources of energy, and clean coal gasification by technologies like integrated gasification combined cycle (IGCC) are gaining both global popularity and market share. In addition to coal, other carbonaceous substances such as pet coke, refinery residuals, biomass, forest and agricultural residues, industrial and municipal wastes, and factory farm manure can all be converted into syngas thermochemically using gasifier technology.
The Asian markets should experience huge growth as global economics continue to change. This shift in focus to energy in the Asian region is driving new technologies, as most of these markets do not have well-established distribution networks for the transport of oil, natural gas or electricity. Localized energy production is creating markets in rural areas in countries across South Asia.
"In terms of the amount of energy produced annually, coal-to-energy (CTE) and coal-to-liquid (CTL) gasifiers are the largest market segments. China continues to lead this segment with a large number of gasifiers coming on-line each year," says BCC Research analyst Vijay Subramanian. "The country’s push for clean coal technologies is keying growth this segment's growth. Other countries such as Indonesia and India are also promoting the use of coal to improve energy independence, which will support market growth in these geographies."
Global Markets for Gasifiers (EGY106B) analyzes the national/state incentives, international agreements, regulatory regimes and political policies that foster, hinder or avoid the implementation of gasifiers. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research
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