Global Biomass Gasification Market to Reach US$ 196.7 Billion by 2032, Propelled by the Increasing Demand for Renewable Energy Sources

April 11, 2023 | Energy & Mining

The latest report by IMARC, titled “Biomass Gasification Market Report by Source (Solid Biomass, Biogas, Municipal Waste, Liquid Biomass), and Region 2024-2032”, finds that the global biomass gasification market size reached US$ 119.0 Billion in 2023. Biomass gasification is a procedure that converts organic material, such as agricultural waste, forestry residues, or municipal solid waste, into a gaseous fuel known as synthesis gas or syngas. The process involves heating the biomass feedstock in a low-oxygen environment to produce a mixture of hydrogen, carbon monoxide, and carbon dioxide. The syngas can then be used as a fuel for power generation, heating, or as a feedstock to produce chemicals and fuels. Biomass gasification has various advantages over traditional biomass combustion, including higher energy efficiency and lower emissions of greenhouse gases and pollutants. This process can also help reduce waste disposal problems and promote sustainable agriculture and forestry practices. In recent years, biomass gasification has gained traction as it is a promising technology that can contribute to the development of a more sustainable and low-carbon energy system. 

Global Biomass Gasification Market Trends:

One of the primary factors driving the market is the increasing demand for renewable energy sources in confluence with the need to minimize greenhouse gas emissions. As a result, governments and industries seek to reduce their dependence on fossil fuels and promote a more sustainable energy mix like biomass, thus positively influencing the market growth. Besides this, biomass gasification offers a way to convert organic waste into usable fuel, thus reducing the need for traditional fossil fuels. Furthermore, converting biomass into a gaseous fuel can help reduce the amount of carbon dioxide and other greenhouse gases released into the atmosphere, compared to traditional biomass combustion, which is propelling the market growth. Moreover, there has been a growing interest in sustainable waste management practices, including the use of biomass gasification to convert organic waste into useful products, which can help reduce waste disposal problems while providing a source of renewable energy. Looking forward, IMARC Group expects the market value to reach US$ 196.7 Billion by 2032, expanding at a CAGR of 5.6% during the forecast period (2024-2032). 

Market Summary:

  • On the basis of the source, the market has been divided into solid biomass, biogas, municipal waste, and liquid biomass. Currently, solid biomass dominates the market.
  • Region-wise, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Presently, Europe holds the leading position in the market.
  • The competitive landscape of the market has also been analyzed, along with the detailed profiles of the key players operating in the industry.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion, TWh
Segment Coverage Source, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Biomass Gasification Market to Reach US$ 196.7 Billion by 2032, Propelled by the Increasing Demand for Renewable Energy Sources
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