Demand for Biomass Gasifier Market to Expand at a 9.3% CAGR until 2031: Report from TMR
Increasing demand for renewable energy sources will drive demand for biomass gasifiers. Advances in technology and government policies are expected to spur the market for biomass gasifiers.
Wilmington, Delaware, United States, Sept. 29, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. -* The biomass gasifier market was valued at US$ 49.5 billion in 2022. The biomass gasifier market is predicted to reach US$ 110.1 billion by 2031. Biomass gasifier market revenue will increase at a CAGR of 9.3% from 2023 to 2031.As one of the most widely used thermochemical processes in the energy industry, biomass gasification produces products that are more valuable and have greater economic value than raw materials. The development of this technology relies on the development of cutting-edge, innovative and economically efficient gasification techniques.
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With biomass generation, carbon dioxide from the atmosphere can be captured, utilized, and stored over the long run, resulting in a reduction in net carbon emissions.
Building and operating gasification plants for biofuel production is becoming increasingly common, and this can serve as a model for hydrogen production in the future. A biomass gasification plant could be constructed in the near term, according to the U.S. Department of Energy.
Biomass is available in sufficient quantities in the United States to meet the food and animal feed needs of the country. According to a recent report, plant breeding and agricultural practices could improve to allow the use of biomass for energy up to 1 billion tons per year.
*Key Findings of **the **Market Report*
· The global market for heat and power systems is expected to account for a significant share of the market.
· In 2022, North America held 42.6% of the biomass gasification market.
· The fixed bed gasifier market demand will show promising growth in the near future.
· A growing emphasis on resource conservation and sustainable development is expected to boost demand for biomass gasifiers.
*Global Biomass Gasifier **Market: Growth Drivers*
· Modern gasification technology has improved efficiency and cost-effectiveness. As a result, it is now considered to be one of the most viable energy solutions.
· The government of many countries around the world offers incentives and subsidies for the development of renewable energy resources, including biomass gasification. A number of incentives are available to encourage biomass projects, including grants, tax credits, and favourable tariffs.
· The technology of biomass gasification continues to improve with ongoing research and development efforts. In recent years, increasing awareness and adoption of environmentally friendly strategies have led to the expansion of biomass gasification in the market.*Global Biomass Gasifier **Market: Regional Landscape*
· European companies are leading the industry since biomass is widely used to generate electricity for businesses and households. Companies are seeking eco-friendly energy sources because of the growing environmental concerns.
· This has resulted in a significant increase in biomass gasification markets in Europe. Several policies and regulations in the region support the growth of the industry.
· Asia Pacific's energy consumption has steadily grown due to energy security and diversification concerns. Asia Pacific countries rely heavily on fossil fuels imported from other countries, which can compromise their energy security. By using biomass gasification, local biomass resources can be utilized for energy production, reducing fossil fuel dependence.
· Governments in the Asia Pacific region have implemented a number of policies and incentives in order to encourage biomass gasification as a renewable energy source. The types of subsidies and tax incentives that can be used include feed-in tariffs, renewable energy targets, and feed-in tariffs.
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*Global Biomass Gasifier **Market: Key Players *A few large players with a large share of the market dominate the biomass gasifier market share. Researchers and developers are investing a lot in enhancing the product portfolios of companies. As a result of technological advancements in biomass gasifiers, players in the market are experiencing growth opportunities.
Biomass Engineering & Equipment (BE&E), EnviTec Biogas AG, Ankur Scientific Energy Technologies Pvt. Ltd., ETA Heiztechnik GmbH, PRM Energy Systems, Inc., Nexterra Systems Corp., Agro Power Gasification Plant Pvt. Ltd., ALL Power Labs, Econotherm (UK) Ltd., Spanner Re2 GmbH, Phoenix Energy, and Shangqiu Haiqi Machinery Equipment Co., Ltd. are the leading biomass gasifier manufacturers on the market.
*Key Developments*
· In *May 2023, Expander Energy Inc. *and IMG Industries have partnered to create Expander Technologies Inc., a Penticton-based company specializing in clean technologies. Bio-Synthetic Diesel fuel produced by this project is estimated to have a Carbon Intensity (CI) of 32.5 gCO2e/MJ. Diesel fuel produced in Canada by 2030 will emit significantly more CO2 than the 79.5 gCO2/MJ mandated by the Clean Fuel Standard. It is expected that production will begin in mid-2025.
· In *August 2023, Reliance Industries Limited (RIL) *began offering cheap green hydrogen in place of traditional fuels as part of its annual report for the financial year 2023. As part of its sustainable solutions efforts in FY23, RIL's teams across its sites worked together. With the use of torrefied biomass in gasifiers, Reliance Industries produced its green hydrogen for the first time in 2022-23.
*Global Biomass Gasifier Market: Segmentation **By Type*
· Fixed Bed Gasifier
· Fluidized Bed Gasifier
· Entrained Flow Gasifier
· Others
*By Category*
· Downdraft
· Updraft
*By Capacity*
· Up to 10 MW (Small)
· 10 MW to 100 MW (Medium)
· More than 100 MW (Large)*By Application*
· Heat and Power System
· Cooking and Household Energy
· Biochemical Process
· Others
*By Region*
· North America
· Latin America
· Europe
· Asia Pacific
· Middle East & Africa*Place an Order Copy of Biomass Gasifier Market Report at: **https://www.transparencymarketresearch.com/checkout.php?rep_id=2193<ype=S*
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