The global biomass gasification market is expected to grow from USD 29 million in 2022 to USD 45 million by 2027, at a CAGR of 8.9% during the forecast period.
Northbrook, IL 60062 -- (SBWIRE) -- 12/06/2022 -- The global Biomass Gasification Market is expected to grow from USD 29 million in 2022 to USD 45 million by 2027, at a CAGR of 8.9% according to a new report by MarketsandMarkets™. The Biomass Gasification Market has promising growth potential due to the rising deployment of combined heat and power plants and the rising use of bioethanol.
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Fixed-bed gasifier segment expected to dominate Biomass Gasification Market, by gasifier, during the forecast period
The fixed-bed gasifier segment holds the largest share of the Biomass Gasification Market. The large market share can be attributed to the increasing number of deployments of gasifier for small scale applications such as electricity generation and biochar in Asia Pacific and Africa.
Forest waste to witness fastest growth rate in Biomass Gasification Market, by source, during forecast period
The Biomass Gasification Market, by product, is divided into agricultural waste, forest waste, municipal waste and animal waste, wherein forest waste accounts for the largest share. Municipal waste is second fastest growing segment during the forecast period, the growth is attributed to increase in government initiatives on waste to energy projects.
Europe to be fastest-growing Biomass Gasification Market during forecast period
In this report, the Biomass Gasification Market has been analyzed for five regions, namely, Europe, the Middle East, Africa, Asia Pacific, North America and South America. Europe is a significant contributor to the Biomass Gasification Market in the current scenario owing to the rapidly increasing cost-competitiveness of gasifier technology, which enable consumers to have access to clean transportation fuel.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the Biomass Gasification Market.
The Biomass Gasification Market is dominated by a few major players that have a wide regional presence. The leading players in the Biomass Gasification Market are Valmet (Finland), EQTEC (Ireland), ThyssenKrupp AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Enerkem (Canada), and Ankur Scientific Technology (India).
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