A renewable source of energy, biomass is primarily obtained from organic matter such as plant and animal waste. It is converted into a combustible gas mixture through the process of biomass gasification. The energy released through this process can be used for cooking food, generating electricity, heating and transportation. Due to rising environmental concerns and increasing green-house gas emissions, countries are now turning towards environment-friendly energy sources, particularly for the production of electricity. According to a latest report by IMARC group titled, “Biomass Gasification Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global biomass electricity production has grown at a CAGR of around 10% during 2009-2016 reaching a value of around US$ 73 Billion in 2016.
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Highlights of the global biomass gasification market:
- Electricity production is the largest application area of biomass gasification.
- Increasing population and urbanisation are the major factors driving the market.
- The market is expected to reach a value of more than US$ 100 Billion by 2022.
The market for biomass gasification for electricity production is expected to reach a value of more than US$ 100 Billion by 2022. The major factor expected to drive this growth is the increasing demand for electricity. It is witnessed mostly in the urbanised regions which are experiencing a sudden surge in the population as more people are heading towards these regions in search of employment opportunities. Apart from this, improving standards of living have also contributed in influencing the demand for electricity, thereby encouraging the global biomass gasification market.
The market for biomass gasification is segmented on the basis of sources from which biomass is obtained such as solid biomass, biogas, municipal waste, liquid biomass, etc. Currently, solid biomass represents the biggest source of biomass electricity production. On the basis of regions, Europe holds the biggest market share followed by North America. An analysis of the competitive landscape provides details of the key players operating in the global biomass gasification market. Some of the major players include Lahti Energia, Vaskiluodon Voima, Essent and Electrabelz.
The report provides a comprehensive analysis for setting up a biomass gasification plant. The study covers all the requisite aspects of the biomass gasification market and provides an in-depth analysis of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the biomass gasification market in any manner.
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The report by IMARC Group has examined the global biomass gasification market on the basis of:
Market by Source:
- Solid Biomass
- Municipal Waste
- Liquid Biomass
Market by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key Player Profiles:
- Lahti Energia
- Vaskiluodon Voima
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