Rapid Technological Advancements to Expedite Global Biomass Gasification Market Through 2031

Biomass gasification provides high power production efficiency, which is used in a variety of power generating systems, including internal combustion engines, gas turbines, heat recovery boilers, and steam boilers, which in turn is likely to raise the demand for biomass gasification market during the forecast period, 2024-2031.

According to Markets and Data, Research report, “Biomass Gasification Market Assessment, By Region, Opportunities and Forecast, 2017-2031F”, Biomass Gasification market was valued at USD 52.6 billion in 2023 and is expected to register a CAGR of 7.66% during the forecast period. One of the primary drivers of the biomass gasification market will be the generation of power through this process. To create syngas, a combustible gas mixture, biomass feedstocks including wood chips, agricultural residues, and energy crops must undergo a thermochemical process known as biomass gasification. After that, this can be utilized as fuel in a variety of power generation devices to generate electricity. High power production efficiency from biomass gasification is utilized in many different power generating systems, such as gas turbines, internal combustion engines, heat recovery boilers, and steam boilers. With a total cost that is now comparable to that of producing electricity using conventional energy sources, biomass gasification has emerged as the most economical technology.

Spread through 236 pages, the " Biomass Gasification Market" report includes an in-depth TOC, over 28 market data figures, the latest market developments, key drivers and opportunities, and a thorough study of major company profiles. Moreover, the report also offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail. 

Key Takeaways:

• The demand for cleaner energy sources is the leading driver of the biomass gasification market.
• The rise in the availability of agricultural waste globally drives the demand for biomass gasification.
• Increasing government subsidiaries promoting the usage of biomass gasification strengthens the demand.
• However, the high production cost involved and huge requirements such as processing infrastructure hinder the growth of the market.

Biomass Gasification Market is Segmented in the Following Categories:

By Source: Agriculture Waste, Forest Waste, Municipal Waste, Animal Waste, and Others.
By Gasifier Technology: Fixed Bed, Fluidized Bed, and Others.
By Application: Power Generation, Chemicals, Transportation Fuels, Ethanol, Hydrogen Generation, and Others.
By Region: North America, Europe, South America, Asia-Pacific, and Middle East and Africa.

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In terms of application, the market is split into power generation, chemicals, transportation fuels, ethanol, hydrogen generation, and others wherein it is observed that power generation dominated the market by 48% value-wise in 2022. The most economical method of generating electricity is biomass gasification, where the overall cost is now on par with that of generating electricity from traditional energy sources. The flexibility of gasification power generation further enhances the economic benefits of small-scale production. Compared to other renewable energy-based power generation techniques, biomass gasification is a simple process with inexpensive equipment making it utilized heavily in energy generation.

Moreover, region-wise Europe witnessed the highest growth in the global biomass gasification market. Using biomass gasification technologies has been fueled by Europe's commitment to lowering carbon emissions and its reliance on less fossil fuels. Biomass feedstocks used for gasification in Europe include forestry waste, food processing residues, energy crops, and agricultural residues. This varied feedstock aids the efficiency and sustainability of the region's biomass gasification processes.

Major Companies Operating in Biomass Gasification Market Include:

• Mitsubishi Heavy Industries (MHI) Group
• GP Green Energy Systems Pvt. Ltd
• EQTEC PLC
• Valmet Corporation
• Aries Clean Technologies
• Nexterra Systems Corp
• LanzaTech
• Enerkem Inc.
• ALL Power Labs (APL)
• Dall Energy

Major companies are primarily focused on developing biomass power plants, which is causing the biomass gasification industry to advance quickly. Furthermore, these businesses frequently collaborate to create cutting-edge technologies to increase their respective profits.

For instance, in January 2024, Enerkem declared that it will close its Edmonton-based Enerkem Alberta Biofuels (EAB) facility. The primary goal of the EAB facility was accomplished, and Enerkem's industry-leading technology was commercially scaled up. After more than 15,000 hours of operation, the plant produced ethanol and methanol (certified by ISCC EU and ISCC PLUS), which helped Enerkem's cutting-edge waste-to-biofuels platform be validated by key industry players and other outside parties. Enerkem was also able to draw in international investors and partners while building a top-notch team with knowledge of the development and application of cutting-edge gasification technology.

“Biomass Gasification Market Assessment, 2017-2031F”, evaluates the future growth potential of biomass gasification market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers to make investment decisions for their organizations more strategically. Moreover, the report also identifies and examines the emerging trends along with key drivers, challenges, and opportunities in the biomass gasification market.

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