The utilization of Fluidized Bed Technology is expected to drive the Global Biomass Gasification Market during the forecasted period, 2024-2031.
According to the Markets and Data Research report, “Global Biomass Gasification Market Assessment, By Region, Opportunities and Forecast, 2017-2031F”, the Global Biomass Gasification Market was valued at USD 52.6 billion in 2023 and is expected to register a CAGR of 7.6% during the forecast period.
The biomass gasification industry is expanding rapidly owing to a variety of causes. Reduced greenhouse gas (GHG) emissions, waste management, and the possibility for decentralized energy production are all advantages of biomass gasification. The industry is being pushed largely by rising demand for renewable energy, environmental concerns, and favorable regulatory frameworks. Furthermore, government assistance for renewable energy, the need for energy security and rural development, and the rising demand for clean energy solutions to meet the net zero objective contribute to the market’s growth.
Furthermore, the industry is seeing greater investment from both the public and private sectors, fueling its expansion.
Spread through 204 pages, the “Global Biomass Gasification Market” report includes an in-depth TOC, over 135 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:
- Biomass utilization in power generation is projected to boost market expansion.
- Major multinational corporations invest in biomass power plants to preserve their leadership positions and acquire a competitive advantage.
- Rapid technical improvements, increasing demand for biomass gasification in power production, and increased expenditures in cleaner energy generation are driving market expansion.
Global Biomass Gasification Market is segmented in the following categories:
By Source – Agriculture Waste, Forest Waste, Municipal Waste, Animal waste, Others
By Gasifier Technology – Fixed Bed, Fluidized Bed, Others
By Application – Power Generation, Chemicals, Transportation Fuels, Ethanol, Hydrogen Generation, Others
By Region: North America, Europe, Asia-Pacific, South America, Middle East, and Africa
Based on Technology, the “Fixed bed” gasifiers dominated the market due to their flexibility, suitability with various feedstocks, and environmental benefits. These technologies provide industries with the ability to choose the most suitable feedstock based on availability, cost, and environmental considerations, thereby contributing to their widespread adoption.
In terms of region, Europe led the biomass gasification market due to its commitment to renewable energy, stringent environmental regulations, and the presence of major players in the market. Countries like Germany, Sweden, and Denmark are leading the way, with the European Union’s ambitious renewable energy targets thereby driving the market growth.
Major companies operating in the Global Biomass Gasification Market include:
- Mitsubishi Heavy Industries (MHI) Group
- GP Green Energy Systems Pvt. Ltd
- Valmet Corporation
- EQTEC PLC
- Enersol Biopower Pvt. Ltd
- Nexterra Systems Corp.
- Ankur Scientific Energy Technologies Pvt Ltd
- PRM Energy Systems Inc.
- All Power Labs
- Spanner Re2 GmbH
- DP Clean Tech
Companies in the field of Biomass Gasification are committed to enhancing the production of power plants. This dedication is driving the industry’s fast evolution, with increased demand for fixed bed technologies are contributing significantly to the market growth.
In October 2023, Valmet, a market leader in biomass gasification in Finland, announced the provision of a biomass power plant to Göteborg Energi in Sweden. Valmet’s supply will include a 140 MWth Valmet BFB Boiler plant, as well as a flue gas cleaning & condensing system. Furthermore, forest waste and recovered wood chips will be utilized as primary fuels.
In January 2023, DP Clean Tech was awarded a significant contract to supply the boiler islands for West Africa’s largest biomass facility. The 46MW biomass plant in southeast Côte d’Ivoire is DP’s third major project on the continent and a high-profile project for the region. Furthermore, the project is being funded by Biovéa Energie S.A., a joint venture between Electricité De France (EDF), Biokala (a subsidiary of the agro-industrial business SIFCA), and the French corporation Meridiam, and it will be delivered by China Energy Engineering Corp. (CEEC). The facility is intended to run on around 480,000 tpa of palm garbage provided locally.
“Global Biomass Gasification Market Assessment, 2017-2031F”, evaluates the future growth potential of Global Biomass Gasification Market and provides statistics & information on market size, structure, and future market growth. This comprehensive research offers business leaders with critical market insights to help them make smart investment decisions. It investigates the market’s growing trends, main drivers, obstacles, and attractive possibilities. The detailed research in the study provides industry experts with the knowledge they need to navigate the volatile environment of the market and capitalize on its development potential.
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