Gasifier Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
The gasifier market has been projected to reach US$ 1.02 billion during the forecast period from 2020 to 2030. Furthermore, the gasifier market is likely to exhibit a CAGR of 7.5% in the years to come.
The revenue generation opportunities in the gasifier market are attributed to the rising demand for clean energy across the world. In addition to this, the expansion of cool industry in recent years is also predicted to create novel growth opportunities in the gasifier market in the foreseeable years.
On the flip side, there are certain Asian countries with huge climate and electricity-related issues. Although they use traditional coal power plants and the capacities of the coal thermochemical process have not picked up according to the expectations because of the high production and capital costs of the procedure. These factors are further anticipated to create growth obstacles in the gasifier market in the foreseeable years.
Based on geographical areas, the Asia Pacific region is likely to grow rapidly in the gasifier market. This rapid growth in the region is due to growing demand for energy, rising demand for clean technologies, and the presence of noticeable reserves of coal in the area.
Gasifier is an equipment that is used to convert carbonaceous or organic materials into hydrogen, carbon monoxide, and carbon dioxide. The resulting mixture is synthesis gas (syngas) and other end products is used in various end-use industries such as transportation, power generation, chemical, and fertilizers.
The global market for gasifiers is largely supplemented by growing popularity of biomass energy. However, the high capital investment required for the installation of gasifiers is hampering the growth prospects of the gasifier market.
The key segments analyzed in the report on the basis of geography are Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Asia Pacific will register a high demand for gasifiers. Increasing gasification activities along with the soaring demand for syngas is contributing to the growth of the region.
The abundant availability of coal and the surging demand for clean energy are creating a staggering volume of demand for gasifiers. The growth of North America and Europe can be attributed to advancements in technologies pertaining to gasifiers.
Continuous technological advancements for the introduction of superior gasification technology are shaping the future of the gasifier market. Product innovation will be one of the key growth strategies for global participants to enhance their visibility in the market.
The market is expected to witness an increase in mergers and acquisitions and joint ventures, which is likely to intensify the competition in the global gasifier market.
The global gasifier market has emerged as a revolutionary pool of the providers of crucial chemical production and energy conservation products and technologies.
The international market for gasifiers has witnessed strong growth as the need for energy in the form of electricity is augmenting at a considerable rate.
Gasifiers are connected to a power grid spread across a larger space to supply electrical as well as thermal energy, especially in countryside areas, at various magnitudes, viz. small, medium, and large.
On the basis of the type of device, gasifiers can be graded as large gasifiers and small gasifiers, each of which exhibit different capabilities and find different usages in various sectors.
Some of these devices are significantly large whereas others are significantly small in size. For instance, remotely located rural areas employ stove-sized gasifiers for cooking purpose, whereas heavy industries or refineries using low-quality coal require very large gasifiers, such as integrated gasification and combined cycle (IGCC) and base load power plant, to suffice their powering need.
With such indispensable factors in position, the global gasifier market is expected to see a continuing rise in the near future.
The health risks associated with a massive amount of waste generated on a regular basis in populated nations has increased the need to deploy gasifiers. The primary reason for this growing demand for gasifiers is their unique functionality in effectively dealing with waste.
These special devices also find usage in efficient coal gasification, waste disposal, and most importantly, biomass gasification. Another vital usage of gasifiers is controlling the quantity of feedstock waste following the process of gasification when producing syngas. Waste can be used as feedstock during the waste gasification process for efficient production of electricity or synthetic fuels.
Gasification technologies such as IGCC can be installed to ensure that the approach of clean coal is taken to control industrial emissions and carbon tax. They have been developed as a crucial means of generating power while doing away with health and environmental issues.
Besides this, an industrial plant can improve its operational efficiency and reduce costs to some extent by producing more than one product, other than electricity, through gasification.
The process of gasification incorporates a broad scope of activities, which make them useful in different applications. In this regard, the global gasifier market can be segmented into stainless steel industries involving the heat treatment of furnaces, substitute for petro-fuel in industrial kilns, lime kilns, galvanizing industries, hot air generators, thermal applications, and power production using dual-fuel application.
Depending on the industrial plant configuration, a specific type of gasifier can be installed. The product type categorization of the global gasifier market includes three major segments, viz. fixed bed, fluidized bed, and entrained flow gasifier.
In terms of end-user, the global gasifier market exhibits five vital segments, which are chemical industry, fertilizer industry, power industry, liquid fuel industry, and gaseous fuel industry.
Vulcan Gasifier, Dakota Gasification Company, Gasifier Manufacturing, LLC, PRM Energy Systems, Inc., Phoenix BioEnergy LLC, Borgford BioEnergy LLC, Aries Clean Energy, and Enginuity Energy LLC are expected to dominate the global gasifier market as major players. Other firms that are anticipated to make a mark with the gasification technology include Zeropoint, GE Energy, GASEK, Gasification Technologies Ltd., Plasma Gasification, Taiyuan Coal Gasification, and Nexterra.
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