Biomass Gasification Market Size, Share, Revenue Demand & Growth by 2034
The global biomass gasification market is anticipated to reach a valuation of US$ 114.0
billion in 2024, driven by awareness and education. The trend is expected to create new
opportunities for the market, leading to a projected CAGR of 8.9% between 2024 and 2034,
and reaching a total valuation of approximately US$ 268.0 billion by 2034.
Growing investments in renewable energy projects, including biomass gasification, are
contributing to market expansion. Investors and financial institutions are recognizing the
long-term potential and viability of such projects. Efficient gas cleaning and purification
technologies are essential for biomass gasification systems. Ongoing advancements in this
area are improving the overall reliability and environmental performance of biomass
gasification processes.
Integration of biomass gasification with other renewable energy sources, such as solar or
wind, in hybrid energy systems is gaining attention. The approach aims to provide a more
reliable and consistent power supply, overcoming the intermittency associated with some
renewable sources.
The growing interest in electrifying transportation, including electric vehicles and charging
infrastructure, creates opportunities for biomass gasification to contribute to the generation of
renewable electricity for the transportation sector. Government initiatives and policies, such
as renewable energy targets, carbon pricing mechanisms, and clean energy incentives, play a
pivotal role in shaping the biomass gasification market. Supportive regulatory frameworks
can accelerate market growth.
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Biomass gasification is gaining traction in various industrial sectors for process heating,
steam generation, and combined heat and power applications. Industries seeking sustainable
alternatives for their energy needs present a significant market opportunity. Ongoing research
and development efforts are focused on improving gasifier technology, increasing efficiency,
and reducing capital and operational costs. Advanced gasification technologies, such as
fluidized bed gasifiers and entrained flow gasifiers are being explored.
Key Takeaways from the Market Study:

The global biomass gasification market was valued at US$ 103.7 billion in 2023.

From 2019 to 2023, the market demand expanded at a CAGR of 11.1%.

The market in Japan is expected to expand at a CAGR of 10.3% through 2034.

By application, the chemicals segment accounts for a CAGR of 8.3% through 2034.

The absolute dollar growth of the market is projected to reach a value of US$ 154.0
billion during the forecast period

The market in the United Kingdom is expected to expand at a CAGR of 10.0%
through 2034.
“Biomass gasification is well suited for microgrid applications, especially in remote or offgrid areas. The ability to generate power locally can enhance energy security and
reliability, particularly in regions with unreliable grid infrastructure” – says Nikhil
Kaitwade, Associate Vice President at Future Market Insights, Inc.
Company Portfolio:

ThyssenKrupp is a diversified industrial group based in Germany. They operate in
various sectors, including steel, industrial solutions, elevator technology, and
materials services. The company is also involved in various sustainable and green
technologies. They have expertise in engineering and providing solutions for biomass
gasification, given their focus on industrial solutions.

Siemens is a global conglomerate with activities in electrification, automation, and
digitalization. The company operates in numerous sectors, including energy,
healthcare, and industry. The company has offerings related to sustainable energy
solutions. They offer technology and services for biomass gasification as part of their
commitment to environmentally friendly energy sources.
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