The global gasification market is anticipated to reach $836.6 billion by 2032, growing from $472.20 billion in 2022 at a CAGR of 5.7% from 2023 to 2032.Gasification is a thermochemical process that converts organic waste and compost into syngas and compounds such as methane, ethylene, fatty acids, detergents, and plasticizers. Gasification is the thermochemical conversion of organic or fossil-based raw materials into hydrogen and carbon monoxide gas with a negligible amount of carbon dioxide and water. The primary raw materials used in this process are carbonaceous and this procedure produces syngas as a byproduct.
Ongoing R&D activities are driving technological advancements in gasification. Improvements in process efficiency, feedstock flexibility, gas cleaning, and carbon capture technologies are making gasification more economically viable and environmentally sustainable. Advancements in gasification also enable the integration with other renewable energy sources, such as solar and wind, to create hybrid energy systems. Numerous governments are implementing policies, rules, and financial Incentives into place to support clean energy technologies and lower greenhouse gas emissions. This assistance Includes money for R&D, tax breaks, grants, and subsidies for gasification projects. These government programs create a positive business situation and encourage financial investments in the gasification market.
Gasification technology is complex and requires sophisticated equipment and processes. There are technical challenges involved in effectively handling and converting different feedstocks, ensuring gas quality, managing by-products such as ash and slag, and addressing operational issues like equipment maintenance and reliability. Overcoming these technical challenges can be time-consuming and resource-intensive.
An Increasing understanding of sustainability and environmental awareness has led to an Increase in interest in gasification as a clean energy replacement. Gasification techniques are being used in production and manufacturing facilities due to Increased industrialization and the expanding electrical, chemical, and oil & gas sectors. The demand for biomass gasification in the municipal sector is quickly rising due to the widespread use of gasification for waste disposal and the recycling of complex compost.
The COVID-19 pandemic had significant impact on the market for gasification. The pandemic caused disruptions in project development activities due to lockdowns, travel restrictions, and supply chain disruptions. Construction activities, equipment procurement, and site inspections were delayed or halted, affecting the progress of gasification projects. The pandemic created economic uncertainty, which impacted investment decisions and financing availability for gasification projects.
The key players profiled in this report Include Royal Dutch Shell, Air Liquide, General Electric, Mitsubishi Heavy Industries, SEDIN Engineering Company Limited, Siemens, CB&I, KBR, Thyssenkrupp AG and Synthesis Energy Systems Inc. The market players are continuously striving to achieve an upper hand in this competitive market using strategies such as collaborations and acquisitions.
Ongoing R&D activities are driving technological advancements in gasification. Improvements in process efficiency, feedstock flexibility, gas cleaning, and carbon capture technologies are making gasification more economically viable and environmentally sustainable. Advancements in gasification also enable the integration with other renewable energy sources, such as solar and wind, to create hybrid energy systems. Numerous governments are implementing policies, rules, and financial Incentives into place to support clean energy technologies and lower greenhouse gas emissions. This assistance Includes money for R&D, tax breaks, grants, and subsidies for gasification projects. These government programs create a positive business situation and encourage financial investments in the gasification market.
Gasification technology is complex and requires sophisticated equipment and processes. There are technical challenges involved in effectively handling and converting different feedstocks, ensuring gas quality, managing by-products such as ash and slag, and addressing operational issues like equipment maintenance and reliability. Overcoming these technical challenges can be time-consuming and resource-intensive.
An Increasing understanding of sustainability and environmental awareness has led to an Increase in interest in gasification as a clean energy replacement. Gasification techniques are being used in production and manufacturing facilities due to Increased industrialization and the expanding electrical, chemical, and oil & gas sectors. The demand for biomass gasification in the municipal sector is quickly rising due to the widespread use of gasification for waste disposal and the recycling of complex compost.
The COVID-19 pandemic had significant impact on the market for gasification. The pandemic caused disruptions in project development activities due to lockdowns, travel restrictions, and supply chain disruptions. Construction activities, equipment procurement, and site inspections were delayed or halted, affecting the progress of gasification projects. The pandemic created economic uncertainty, which impacted investment decisions and financing availability for gasification projects.
The key players profiled in this report Include Royal Dutch Shell, Air Liquide, General Electric, Mitsubishi Heavy Industries, SEDIN Engineering Company Limited, Siemens, CB&I, KBR, Thyssenkrupp AG and Synthesis Energy Systems Inc. The market players are continuously striving to achieve an upper hand in this competitive market using strategies such as collaborations and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global gasification market analysis from 2022 to 2032 to identify the prevailing global gasification market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global gasification market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global global gasification market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Gasifier Medium
- Air
- Oxygen
- Vapor
By Application
- Electricity
- Chemicals
- Fertilizers
- Liquid Fuels
- Synthetic Natural Gas (SNG)
- Hydrogen
By Type
- Fixed Bed
- Fluidized Bed
- Entrained Flow
By Feedstock
- Biomass
- Waste
- Coal
- Petroleum
- Gas
- Petcoke
By Feed Type
- Dry
- Slurry
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Netherlands
- Austria
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- UAE
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Air Liquide
- CB&I
- General Electric
- KBR Inc.
- Mitsubishi Heavy Industries
- SEDIN Engineering Company Limited
- Shell Plc.
- Siemens
- Synthesis Energy Systems Inc.
- ThyssenKrupp AG.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GASIFICATION MARKET, BY TYPE
CHAPTER 5: GASIFICATION MARKET, BY FEEDSTOCK
CHAPTER 6: GASIFICATION MARKET, BY FEED TYPE
CHAPTER 7: GASIFICATION MARKET, BY GASIFIER MEDIUM
CHAPTER 8: GASIFICATION MARKET, BY APPLICATION
CHAPTER 9: GASIFICATION MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Global Gasification Market,' The global gasification market was valued at $472.20 billion in 2022, and is estimated to reach $836.6 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032. Gasification is a process that converts carbonaceous materials, such as coal, biomass, or municipal solid waste, into a gaseous fuel called syngas (synthetic gas). It involves heating the feedstock at high temperatures in an oxygen-limited environment, resulting in the partial oxidation of the material. During gasification, the carbonaceous material reacts with a controlled amount of oxygen or steam, producing a mixture of gases composed mainly of carbon monoxide (CO), hydrogen (H2), carbon dioxide (CO2), methane (CH4), and other trace gases. The ratio of oxygen to carbon is carefully regulated to achieve the desired composition of the syngas.An increase in greenhouse gas emissions, a rise in the use of environmentally friendly energy sources, and a rise in public concern for the environment are the key factors driving the market growth. Increasing environmental regulations aimed at reducing greenhouse gas emissions and promoting sustainable development have led to a greater emphasis on cleaner energy technologies. Gasification helps to mitigate environmental concerns by enabling the capture and utilization of carbon dioxide (CO2) emissions and reducing dependence on fossil fuels. Through the process, corrosive ash components like chlorides and potassium, which can cause a number of issues in the feedstock, are refined to produce clean gas. In addition, the popularity of gasifying fossil fuels for generating electricity at the residential and industrial levels is rising. Technological advancements in syngas production and reduction of costs are playing an important role in shifting industry preferences toward a responsive and clean source of electricity. These factors are expected to drive the market revenue growth in the upcoming years.
Gasification projects require significant upfront investment and operational costs. The capital expenditure involved in building gasification plants, implementing carbon capture and storage, and ensuring compliance with environmental regulations can be significant. The high costs associated with gasification can pose a barrier to its widespread adoption, particularly in regions where alternative energy sources are cheaper. In addition, competition for feedstock resources from other industries, such as the agricultural or bioenergy sectors, can further restrict its availability.
Gasification is becoming more popular as a clean energy replacement due to rising environmental consciousness and increased awareness of sustainability. Gasification processes are being used in production and manufacturing facilities owing to rapid industrialization, expanding power, chemical, and oil & gas industries, and technological advancements. Demand for gasification is increasing rapidly in the municipal sector due to the widespread use of gasification for waste disposal and the recycling of complex compost. These key factors are expected to create several growth opportunities for the global gasification market players during the forecast period.
The global gasification market share is segmented on the basis of type, feedstock, feed type, gasifier medium, application, and region. By type, it is classified into fixed bed, fluidized bed, and entrained flow. By feedstock, it is classified into coal, petroleum, gas, petcoke, biomass, and waste. By feed type, it is classified into dry feed and slurry. By gasifier medium, it is classified into air, oxygen, and vapor. By application, it is classified into electricity, chemicals, fertilizers, liquid fuels, SNG, hydrogen, and steel. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the gasification market report include Royal Dutch Shell, Air Liquide, General Electric, Mitsubishi Heavy Industries, SEDIN Engineering Company Limited, Siemens, CB&I, KBR, Thyssenkrupp AG, and Synthesis Energy Systems Inc.
The report offers a comprehensive analysis of the global gasification market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Gasification Industry
COVID-19 impact caused economic uncertainty, which might have an impact on investment decisions and the availability of finance for gasification projects in the post-pandemic period. The pandemic caused disruptions in global supply chains, including the gasification industry. Restrictions on international trade, travel, and manufacturing led to delays in the delivery of equipment and materials required for gasification projects. This affected the overall development and deployment of gasification technologiesCOVID-19 generated major price changes in energy commodities such as oil, natural gas, and coal. These price changes had an impact on the economics of gasification projects because they altered the cost competitiveness of gasification-derived fuels and products versus traditional fossil fuels
The pandemic led to changes in energy demand patterns, with fluctuations in electricity consumption and disruptions in industrial activity. These changes impacted the business case for gasification projects, especially those focused on power generation or industrial applications
Key Findings of the Study
- Based on type, the fixed bed sub-segment emerged as the global leader in 2022 and the entrained flow is expected to grow with the highest CAGR during the forecast period
- Based on feedstock, the coal sub-segment emerged as the global leader in 2022 and the biomass sub-segment is predicted to have the fastest growth rate during the forecast years
- Based on feed type, the dry feed sub-segment emerged as the global leader in 2022 and is predicted to have the fastest growth rate in the upcoming years
- Based on gasifier medium, the air sub-segment emerged as the global leader in 2022 and the oxygen sub-segment is predicted to have the fastest growth rate during the forecast period
- Based on application, the chemicals sub-segment emerged as the global leader in 2022 and the hydrogen is predicted to have the fastest growth rate
- Based on region, the Asia-Pacific market registered the highest market share in 2022 and is projected to show the fastest growth during the forecast period
Companies Mentioned
- Air Liquide
- CB&I
- General Electric
- KBR Inc.
- Mitsubishi Heavy Industries
- SEDIN Engineering Company Limited
- Shell Plc.
- Siemens
- Synthesis Energy Systems Inc.
- ThyssenKrupp AG.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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