New York, United States , Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Global Biomass Gasification Market Size is to Grow from USD 104.25 Billion in 2022 to USD 216.87 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.
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Biomass gasification is a renewable energy process that converts organic materials, such as agricultural waste and wood chips, into a mixture of gases called syngas. This is achieved by subjecting the biomass to high temperatures in a low-oxygen environment. The resulting syngas can be used for electricity generation, heat production, or as a raw material for biofuels and chemicals. Biomass gasification offers a sustainable alternative to fossil fuels, reduces greenhouse gas emissions, and helps in waste management by utilizing agricultural and forestry residues. It holds significant potential for a cleaner and more environmentally friendly energy production system.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on the "Global Biomass Gasification Market Size, Share, and COVID-19 Impact Analysis, By Source (Agricultural Waste, Forest Waste, Animal Waste, and Municipal Waste), By Technology (Fixed Bed Gasifier, Fluidized Bed Gasifier, Entrained Flow Gasifier, and Others), By Application (Power Generation, Chemicals, Transportation Fuels, Hydrogen Generation, Ethanol, and Biochar), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032".
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The ethanol segment is expected to grow at a CAGR of around 6.5% during the forecast period
Based on the application, the global biomass gasification market is segmented into power generation, chemicals, transportation fuels, hydrogen generation, ethanol, and biochar. The ethanol segment is anticipated to experience growth during the forecast period in the biomass gasification market. This can be attributed to several factors, the ethanol is a widely used biofuel that serves as a renewable and low-carbon alternative to conventional gasoline. As governments and industries worldwide strive to reduce greenhouse gas emissions and promote sustainable transportation, the demand for ethanol as a fuel source is increasing. Biomass gasification offers a viable pathway for producing ethanol from biomass feedstock, such as agricultural residues and energy crops. This process allows for the conversion of syngas into ethanol through various downstream processes. With the advancements in gasification technology and the focus on developing advanced biofuels, the ethanol segment is expected to witness significant growth as a promising application of biomass gasification in the coming years.
The fixed bed gasifier will grow at a CAGR of around 6.8% over the projected period
Based on the technology, the global biomass gasification market is segmented into fixed bed gasifier, fluidized bed gasifier, entrained flow gasifier, and others. The fixed bed gasifier segment is expected to witness growth during the forecast period in the biomass gasification market. The fixed bed gasifiers offer advantages such as simplicity, reliability, and lower operating costs compared to other gasification technologies. These characteristics make them suitable for small to medium-scale biomass gasification projects. The fixed bed gasification technology has undergone advancements in recent years, improving its efficiency and overall performance. This has boosted the confidence of investors and project developers in utilizing fixed bed gasifiers for biomass gasification applications.
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Europe is predicted to grow at a higher CAGR of around 7.6% over the coming few years
Based on region, Europe is anticipated to experience higher growth in the Biomass Gasification Market during the forecast period. This can be attributed to several factors, because the region has set ambitious renewable energy targets and is actively transitioning towards a low-carbon economy. Biomass gasification is seen as a key technology to achieve these goals, driving investments and government support. Europe has a well-established infrastructure for biomass supply and utilization, creating a favorable ecosystem for biomass gasification projects. Additionally, the region's strong emphasis on research and development fosters technological advancements, improving the efficiency and cost-effectiveness of gasification systems. Moreover, increasing awareness and public support for renewable energy further contribute to the expected growth of the biomass gasification market in Europe.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the Global Biomass Gasification Market include Goteborg Energi AB, Valmet Corporation, Thyssenkrupp AG, KASAG Swiss AG, Ankur Scientific Energy Technologies Pvt. Ltd., Vaskiluoto Voima Oy, Beltran Technologies, Inc., Chanderpur Works Private Limited, Infinite Energy Pvt. Ltd., EQTEC PLC and Others.
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Recent Market Developments
In May 2022, Valmet's new pre-treatment Biotrac pilot facility has launched at the fibre technology centre in Sundsvall, Sweden. The pilot plant investment would assist Valmet improve its research and development capabilities in the field of biomass pre-treatment, as well as respond to market demand for bioenergy, biofuels, and biochemicals.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global biomass gasification market based on the below-mentioned segments
Biomass Gasification Market, By Source
- Agricultural Waste
- Forest Waste
- Animal Waste
- Municipal Waste
Biomass Gasification Market, By Technology
- Fixed Bed Gasifier
- Fluidized Bed Gasifier
- Entrained Flow Gasifier
- Others
Biomass Gasification Market, By Application
- Power Generation
- Chemicals
- Transportation Fuels
- Hydrogen Generation
- Ethanol
- Biochar
Biomass Gasification Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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