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 Drivers/Constraints:
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:
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