Biomass Gasification Market to Hit $45 Million by 2027 | ThyssenKrupp, Enerkem, Valmet, EQTEC, Mitsubishi Heavy Industries, Ankur Scientific Technology.

The global biomass gasification market has promising growth potential due to the rising deployment of combined heat and power plants and the rising use of bioethanol.

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.

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Forest waste to witness fastest growth rate in biomass gasification market

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 expected to be the fastest-growing biomass gasification market

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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Ethanol segment to witness fastest CAGR during forecast period

By application, transportation fuel segment will be the second fastest growing segment during the forecast period. The growth of segment is attributed to increase in towards the use of sustainable fuel and trying to achieve net zero CO2 emissions.

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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This release was published on openPR.