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Global Gasification Market: Rising demand for efficient and clean energy generation from developed and developing countries is expected to drive growth of global gasification market

Gasification Market

Global Gasification Market: Gasification is a reliable, commercial, and flexible technology which converts any material containing carbon such as petroleum coke (petcoke), coal, and biomass into synthesis gas (syngas). Gasification is mainly done on a commercial scale worldwide especially in fertilizer, chemical, refining, and electric & power industries. Gasification does not include combustion, but rather uses little or no oxygen or air in a closed reactor to change over carbon-based materials specifically into a synthetic gas, or syngas.

Rising demand for efficient and clean energy generation technologies in various end use industries as well as households is a key factor driving growth of the global gasification market. In addition, gasification by-products are readily marketable, and rising demand for gasification from emerging economies are major factors expected to fuel growth to the global gasification market over the forecast period.

However, high cost of gasification in various end use applications is a key factor restraining growth of the global gasification market. Additionally, large amount of biofuels used in the generation of power is a major factor expected to hamper growth of the global gasification market over the forecast period.

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The global gasification market is segmented on the basis of feedstock, gasifier type, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Asia Pacific is a dominant player in the global gasification market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to rising power demand mainly for biomass gasification in emerging economies such as China, India, and Indonesia. The markets in North America and Europe are projected to show significant growth over the forecast period, owing to rising demand for clean energy and adoption of underground coal gasification (UCG).

Prominent players in the global gasification market include Royal Dutch Shell, Air Liquide, General Electric, Mitsubishi Heavy Industries, Ltd., SEDIN Engineering Company Limited, Siemens Ltd., KBR Inc., Thyssenkrupp AG, and CB&I.

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