Global Biomass Gasification Market Driven by Growing Demand for Renewable Energy

May 14, 2018

Biomass gasification is the process of converting solid biomass into combustible gas through a series of thermo-chemical reactions. It uses high heat and pressure along with inadequate supply of air (O2) for the partial combustion of biomass. Over the past few years, biomass gasification has significantly gained popularity, particularly in the developing countries as they aim to achieve energy efficiency. A new research report by IMARC Group, titled “Biomass Gasification Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a value of US$ 78 Billion in 2017. The report further anticipates the market to reach a value of US$ 126 Billion by 2023, at a projected CAGR of 8.3% over the forecast period.

Global Biomass Gasification Market

Global Biomass Gasification Market Drivers/Constraints:

  • Biomass gasification converts waste into electricity and other useful products. As a result, it helps in decreasing methane emissions from the decomposition of organic materials in the landfills along with reducing the landfill spaces and groundwater contamination.
  • On account of the rising environmental concerns and increasing green-house gas emissions, there has been a shift towards environment-friendly energy sources. This is anticipated to provide a positive thrust to the growth of the global biomass gasification market.
  • The abundant availability of biomass, in confluence with the initiatives taken by the governments of various countries to promote the use of renewable sources of energy, acts as another major factor driving the market.
  • The high cost associated with gasification and the increasing usage of biofuels for power generation are anticipated to hinder the global biomass gasification market growth.


Source Insights:

Solid biomass, such as wood and other organic matter, represents the most popular source of electricity production as it is renewable and sustainable in nature. It is followed by biogas, municipal waste and liquid biomass.

Regional Insights:

On a geographical front, Europe enjoys the leading position in the global biomass gasification market on account of the high demand for biomass which is mostly used for providing electricity to households and institutions. Other major regions include North America, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

The market is highly concentrated in nature with the presence of limited manufacturers who have significant control over the prices of the final product. Some of the leading players operating in the market are:

  • Lahti Energia
  • Vaskiluodon Voima
  • Rudorsdorfer Zement
  • Essent
  • Electrabel

 

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Global Biomass Gasification Market Driven by Growing Demand for Renewable Energy
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