Global Gasification Market 2015-2019
Gasification is a thermochemical process that converts hydrocarbons such as coal, petroleum, petcoke, natural gas, and biomass into simple molecules, primarily resulting in a mixture called syngas (carbon monoxide and hydrogen) by means of partial oxidation with air, oxygen, or steam. The key advantage of gasification is its ability to perform in various designs having a reduced environmental footprint as compared to combustion technologies. There are several gasifier designs and operating conditions. The most vital component of the gasification process is the gasifier, a vessel in which the feedstock reacts with air or oxygen at high temperatures. The carbon monoxide and hydrogen ratio depends on the hydrogen and carbon content of the feedstock and the type of gasifier.
TechNavio's analysts forecast the Global Gasification market to grow at a CAGR of 13.1 percent over the period 2014-2019.
Covered in this Report
TechNavio's report, Global Gasification Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Gasification market landscape and its growth prospects in the coming years. The report also includes the segmentation of the Global Gasification market by feedstock as well as geographical segmentation. The report includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Global Gasification Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Gasification Market: Air Liquide SA, GE Energy, Mitsubishi Heavy Industries Ltd., Royal Dutch Shell plc and Siemens AG.
Other Prominent Vendors in the market are: CB&I, Sedin Engineering, Synthesis Energy Systems and ThyssenKrupp.
Commenting on the report, an analyst from TechNavio’s team said: “The adoption of underground coal gasification is one of the major trends upcoming in this market. The increased adoption of the UCG technology stems from the increased focus on R&D coupled with advances in technology. Gasification helps increase the overall operational efficiency of the Power Generation industry.”
According to the report, the energy demand worldwide has increased significantly and there has been a shift from traditional power generation techniques such as fossil fuel-based energy generation to renewable energy-based techniques. Industries across geographies are increasingly using fossil fuels as the primary source of energy, and therefore they have started to adopt the gasification technology to harness the clean energy obtained from coal.
Further, the report states that the high upfront cost of the gasification technology is hampering the market growth significantly. The cost of gasifiers can go into billions, which makes it highly burdensome for investors. Moreover, the cost to construct and operate a gasification plant can be significantly high.
Air Liquide, GE, Mitsubishi Heavy Industries, Royal Dutch Shell , Siemens Energy , CB&I, Sedin Engineering Company , Synthesis Energy Systems , Thyssenkrupp