Powering up the Gasification Market
Global Gasification Market: Overview
Gasification is a process of converting organic carbonaceous materials into carbon dioxide, carbon monoxide, and hydrogen. With the controlled amount of oxygen, the materials are reacted at very high temperatures. It is a thermochemical process, which converts hydrocarbons such as biomass, coal, natural gas, petroleum, and petcoke into simple molecules known as syngas by partial oxidation with oxygen and air. Gasification emerges as the best alternative for clean energy; it is rapidly being adopted in the various industries such as chemicals, oil & gas, and power. Available feedstock for gasification includes biomass, petroleum, natural gas, and coal. Most commonly used feedstock in the gasification processes for industrial applications are coal and petroleum.
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Global Gasification Market: Growth Factors
The demand for clean and efficient energy generation technology has increased among household and industrial applications thus driving the global gasification market. Other energy generation technologies cause wastage of energy during the combustion process. However, gasification process generates energy with optimum utilization of energy. The resultant gas formed in the process is known as producer gas, which has high calorific value as compared to fossil fuels. Producer gas generates a huge amount of energy than combustion of fossil fuels; this is the major driving factor in the market growth. Application of the gasification has increased in the municipal industry in the past few years. However, wide usage of the biofuels in the generation of the power and the high cost that is associated with gasification hinders the global market growth to some extent.
Global Gasification Market: Segmentation
The global gasification market is fragmented into feedstock, application, gasifier type, and regions. The feedstock segment is classified into petroleum, coal, biomass, natural gas, and others. Based on the application segment, the global market is divided into gas fuels, liquid fuels, chemicals, and power. The power application segment is dominating across the world due to increasing industrial and household applications. On the basis of gasifier type, the market is segregated into the fluidized bed, entrained, moving/fixed bed, and others. Region-wise, the global market is diversified into Asia Pacific, North America, Europe, and Rest of the World.
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Global Gasification Market: Regional Analysis
Asia Pacific is the leading region in the global gasification market due to the increasing applications of gasification in the end-use industries. This growth is expected to continue in the near future. Other developing countries such as Indonesia, India, and China anticipate attracting rural areas owing to rising power demand in these regions for biomass gasification. North America and Europe will show a significant growth in the coming years. Rapid infrastructural development in the Asia Pacific region contributes to the growth of the market. Rising need for clean energy and increasing acceptance of the UGC in the Latin America anticipates propelling the global market.
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Global Gasification Market: Competitive Players
The major market players in the global gasification market include General Electric, Royal Dutch Shell, Synthesis Energy Systems Inc., Sedin Engineering Company Limited, Air Liquide, ThyssenKrupp AG, Siemens, Mitsubishi Heavy Industries, KBR, and CB&I.
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