Biomass Gasification Market to Reach $45 Million by 2027 | ThyssenKrupp, Enerkem, Mitsubishi Heavy Industries, Valmet, EQTEC.

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 2022-2027. 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.

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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The biomass gasification market size refers to the total market value of biomass gasification systems, which are used to transform biomass feedstocks such as wood chips, agricultural waste, and municipal solid waste into a clean-burning fuel gas. Biomass gasification is a sustainable alternative to fossil fuels, reducing greenhouse gas emissions and promoting energy independence. Government support for renewable energy, the need for energy security and rural development, and the growing need for clean energy solutions are driving the biomass gasification market. The global biomass gasification market is predicted to expand rapidly over the next few years, owing to technological developments, increased investment in bioenergy projects, and rising demand for sustainable energy solutions.

The growing population has increased the demand for food and other essential resources. This has consequently increased industrial and agricultural activities, giving rise to waste mismanagement. The waste generated is either burned in the open or left in the field to decompose, resulting in adverse environmental impacts. Hence, rational utilization of abundant biomass waste is gaining attention. Biomass wastes such as agricultural wastes, forest residues, industrial wastes, animal wastes, and municipal solid wastes (MSW) are expected to increase with urbanization. According to the IRENA, the availability of world sustainable biomass is expected to rise continuously from 2,500 million tons of oil equivalent/year (Mtoe/year) in 2020 to 5,700-7,000 Mtoe/year by 2050. Hence, the availability of biomass feedstocks is expected to rise, which, in turn, will lead to an increase in biomass generation and drive the growth of the biomass gasification market.

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Europe is expected to be 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.

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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