The global Biomass Gasification Market is projected to grow from USD 29 million in 2022 to USD 45 million by 2027, at a CAGR of 8.9% according to a new report by MarketsandMarkets™. 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 factors driving the market include the demand for syngas from green chemicals producers and the power generation industries. 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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=105152418
Global biofuel demand has been increasing gradually due to the rising focus of countries on achieving net zero-emission targets. According to Statistical Review of World Energy 2022, the total biofuel consumption in 2021 was 1,837 thousand barrels of oil equivalent per day worldwide. Biofuels reduce greenhouse emissions by up to 65%. The demand for suitable biofuel crops is rising due to the increasing biofuel production, supporting the agricultural industry. Biofuels are less expensive for buildings, companies, and automobiles.
Several countries worldwide are trying to move away from dependence on oil imports. According to the Renewable Energy Directive (RED), the European Union had set a goal of covering at least 20% of its total energy demand from renewable sources by 2020. Similarly, the US Renewable Fuels Standards Program was created to reduce greenhouse gas emissions and expand the US renewable fuel sector. Biofuels are the most efficient alternative to fossil fuels because they can be produced locally.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=105152418
Asia Pacific is expected to be the largest region in the Biomass Gasification Market
Asia Pacific is the largest market for biomass gasification owing to the abundant availability biomass feedstock of and increasing government initiatives for the bioenergy. The growth of the Asia Pacific market is characterized by the increase in the production of electricity for rural areas and green fuel due to higher demand from the petrochemical industry.
Key Market Players:
Major players operating in the Biomass Gasification Market include Valmet (Finland), EQTEC (Ireland), ThyssenKrupp AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Enerkem (Canada), and Ankur Scientific Technology (India).
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/biomass-gasification.asp
