Portland, OR, Jan. 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global biomass gasification market was valued at $88.0 billion in 2021 and is projected to reach $188.5 billion by 2031, growing at a CAGR of 8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, patent landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $88.0 Billion |
| Market Size in 2031 | $188.5 Billion |
| CAGR | 8.0% |
| No. of Pages in Report | 337 |
| Segments Covered | Type, Application, Source, and Region. |
| Drivers | Increase in waste management |
| Increase in electrification | |
| Commercialization of biomass gasification | |
| Rapidly depleting fossil fuels | |
| Restraints | High installation cost |
| Opportunities | Advancing technology for biomass gasification |
Covid-19 scenario-
- The disrupted supply chain across the world led to decreased activities in waste management, which in turn impacted the global biomass gasification market negatively, especially during the initial phase.
- The ongoing and planned projects suffered delays due to a disrupted supply chain, delays in government approvals, and a lack of budge
- However, as the net emissions targets for 2030 are nearing, globally, government and private players are heavily investing in biomass technology to shift towards clean energy from biomass gasification.
The global biomass gasification market is analyzed based on type, application, source, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the moving or fixed bed segment held the largest share in 2021, garnering more than one-third of the global biomass gasification market revenue as they can be used at high temperatures. However, the fluidized bed segment, on the other hand, would showcase the fastest CAGR of 8.2% during the forecast period as this gasifier type produces relatively less tar and unfinished char. The other segments assessed through the report take in plasma and FCC-fluid catalytic cracking.
By application, the power segment contributed to more than half of the global biomass gasification market share in 2021 and is projected to rule the roost by 2031. The gas fuels segment, on the other hand, would display a significant CAGR of 7.7% throughout the forecast period.
By source, the solid biomass segment accounted for the highest share in 2021, generating around half of the global biomass gasification market revenue. The liquid biomass segment, simultaneously, would portray a CAGR of 7.9% during the forecast period. The municipal waste and biogas segments are also analyzed through the report.
By region, Europe held the major share in 2021, garnering more than one-third of the global biomass gasification market revenue. The same region would also showcase the fastest CAGR of 8.3% from 2022 to 2031. The other region assessed through the report include North America, Asia-Pacific, and LAMEA.
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The key market players analyzed in the global biomass gasification market report include Beltran Technologies, Inc., Vaskiluodon Voima Oy, EQTEC plc, Chanderpur Works Private Limited, Ankur Scientific Energy Technologies Pvt. Ltd., Infinite Energy Pvt. Ltd., Valmet Corporation, KASAG Swiss AG, Göteborg Energi AB, and Thyssenkrupp AG. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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