Gasification Market Size And Forecast
Gasification Market size was valued at USD 412.7 Billion in 2020 and is projected to reach USD 630.5 Billion by 2028, growing at a CAGR of 5% from 2021 to 2028.
We're seeing more and more demand for cleaner, more efficient energy – both in big industries and at home – and that's really driving the market forward. The gas we get from this process, often called producer gas or syngas, actually packs a bigger punch than fossil fuels when it comes to heat. Because it gives you more energy than just burning fossil fuels, it's a huge reason why the Gasification Market is growing. If you want to get the full picture, check out the Global Gasification Market report. It dives deep into all the important parts of the market, like key segments, what's trending, what's pushing things forward, what's holding things back, who the big players are, and all the things that are really making a difference.
Global Gasification Market Definition
Think of gasification like thisit's a way to transform stuff like wood, natural gas, or even coal into something more usefula mixture of gases including carbon dioxide, hydrogen, and carbon monoxide. Basically, we're cooking these materials at super high temperatures with just the right amount of oxygen. It's a fancy thermochemical method that takes hydrocarbons – things like biomass, natural gas, coal, petroleum, and pet-coke – and breaks them down into simpler molecules, what we call syngas, through a partial burn with oxygen or air. Because it's cleaner than just burning stuff, gasification is becoming a popular way to get clean energy, and lots of industries – like chemicals, oil & gas, and power – are using it. You can use all sorts of "feedstock," including biomass, natural gas, petroleum, and coal. Right now, petroleum and coal are the workhorses of gasification in industrial settings.
Growing demand for clean and more efficient energy generation technology in industries and household applications will fuel the market growth. Other technologies for energy generation involve energy wastage during the combustion process. However, gasification is a better way of energy generation that optimizes energy utilization. The Increasing rural electrification rate, especially in developing countries, is escalating the demand for decentralized electricity generation is majorly driving the global gasification market toward growth. Besides, the widespread acceptance of these systems for waste processing as a replacement of conventional techniques like incineration and landfill is fuelling the market growth.
Moreover, the leading market players and governments of various nations have been consistently investing in the development of advanced technologies, which is contributing to market growth. For instance, the United States Depart of Energy (USDOE) is developing innovative and flexible modular designs with the Gasification Systems Program. This aids in the conversion of various types of US domestic coal blends, waste plastics, and municipal solid waste (MSW) into clean synthesis gas. Furthermore, the rising development and commercialization of small- to large-scale biomass gasification systems combined with power generation equipment has positively impacted the market across the globe.
Global Gasification Market Overview
Think of biomass as nature's way of fueling our lives – it's a renewable energy source we get from organic goodies like plant and animal waste. Then, we use a cool process called biomass gasification to turn it into a gas we can burn. What can we do with that energy? Loads! We can cook our food, make electricity, keep our homes warm, and even power our transportation. Biomass is a real contender against dirty coal power! And with everyone getting more worried about the environment and those pesky greenhouse gases, companies are looking for greener options, like biomass. That's why the biomass market is booming, growing way faster than other energy sources. Plus, with the government showing some love through helpful policies and regulations, and with biomass being super abundant, it's no wonder this market is taking off.
So, even though Asian countries are facing big problems with electricity and climate, and despite all the coal power plants they're using, coal gasification hasn't really taken off like everyone thought it would. The reason? It costs a ton to build and run these things. Integrated gasification combined cycle (IGCC) coal plants, which use this coal gasification tech to make power, are the main players here. And while IGCC is sometimes called "clean coal," it actually pollutes more with carbon than options like wind and solar. Plus, it's a whopping 35% more expensive than regular coal technology! And if you add CCS technology to try and clean things up, forget about it - the costs just skyrocket.
Okay, so here's the dealelectricity from IGCC plants equipped with CCS is looking pretty expensive in the US, like, twice as much as getting it from wind or those big solar farms. That's really holding back the whole "gamification" thing in the power industry. But, hey, things might change! With new tech and the government maybe chipping in, we could see things pick up. Now, what fuels these gasification plants? Well, think petroleum, coal, natural gas, even biomass and waste. Petroleum and coal are the big players right now. As for waste, we're talking wood chips, pellets, your everyday garbage (municipal solid waste), stuff called refuse-derived fuel, and even industrial and agricultural leftovers, dry grass, corn stover, and even sewage sludge.
Global Gasification MarketSegmentation Analysis
The Global Gasification Market is Segmented on the basis of Application, Process Type, and Geography.
Gasification Market, By Application
• Fuel Gas• Feedstock• Power Generation• Fertilizer• Chemical Making
Based on Application, the market is bifurcated into Fuel Gas, Feedstock, Power Generation, Fertilizer, and Chemical Making.
Gasification Market, By Process Type
• Moving Bed• Fluidized Bed• Entrained Bed• Molten Bed
Based on Process Type, the market is bifurcated into Moving Bed, Fluidized Bed, Entrained Bed, and Molten Bed.
Gasification Market, By Geography
• North America• Europe• Asia Pacific• Rest of the world
On the basis of Geography, the Global Gasification Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to hold the largest market share in the forecast period. The attendance of significant players such as General Electric and Siemens will boost the market growth with the help of incorporating technological advancements in the product portfolio. Increased disbursements of enterprises in Research and Development would expand the market growth across the region.
Key Players
The “Global Gasification Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are General Electric, Royal Dutch Shell, Synthesis Energy Systems Inc., Sedin Engineering Company Limited, Air Liquide, Thyssenkrupp AG, Siemens, Mitsubishi Heavy Industries, KBR, and CB&I. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
• March 2020EQTEC PLC, a major bioscience energy company based in the United Kingdom announced that it has signed a contract for the engineering design and installation of the first advanced gasification plant in Greece.
Report Scope
| REPORT ATTRIBUTES | REPORT ATTRIBUTES |
|---|
| Study Period | 2017-2028 |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Period | 2017-2019 |
| UNIT | Value (USD Billion) |
| Key Companies Profiled | General Electric, Royal Dutch Shell, Synthesis Energy Systems Inc., Sedin Engineering Company Limited, Air Liquide, Thyssenkrupp AG, Siemens, Mitsubishi Heavy Industries. |
| Segments Covered | - By Application
- By Process Type
- By Geography
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| Customization Scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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