Gasification Market size was valued at US$ 784.3 billion in 2023 and is expected to grow at a CAGR of 6.2% from 2024 to 2030. Gasification is a process that converts carbon-based materials into synthesis gas (syngas), which can be used for various applications including electricity generation, chemical production, and fuel synthesis. This technology plays a crucial role in the transition towards cleaner energy sources and waste management solutions. The global focus on reducing greenhouse gas emissions and the increasing demand for clean energy are primary drivers of the gasification market. According to the International Energy Agency, global energy-related CO2 emissions reached 33 Gt in 2019, highlighting the urgent need for cleaner energy technologies.
The versatility of gasification in handling various feedstocks, including coal, biomass, and waste, contributes to its growing adoption. Additionally, the ability of gasification to produce high-value products from low-value feedstocks enhances its economic viability. Technological advancements in gasification processes, such as improved reactor designs and catalysts, are further propelling market growth by increasing efficiency and reducing costs. The market is also benefiting from supportive government policies and incentives for clean energy technologies in many countries. However, challenges such as high initial capital costs and competition from other renewable energy technologies may hinder market growth. The Asia Pacific region held the major market share in 2023 and is expected to dominate the global Gasification Market in the forecasted years, driven by rapid industrialization and increasing energy demand in countries like China and India.
In 2022, Air Products and Chemicals, Inc. announced plans to invest $4.5 billion in a blue hydrogen production facility in Louisiana, USA, utilizing advanced gasification and carbon capture technologies. This development aims to:
Study Period
2024-2030Base Year
2023CAGR
6.2%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The increasing global focus on reducing carbon emissions and transitioning to cleaner energy sources is a significant driver for the gasification market. Gasification offers a more environmentally friendly alternative to traditional combustion processes, particularly for coal and waste materials. For instance, according to the Global Syngas Technologies Council, gasification can reduce CO2 emissions by up to 10% compared to direct combustion of coal. The versatility of gasification in handling various feedstocks also contributes to its growing adoption, especially in regions with diverse energy resources. Furthermore, the rising demand for chemicals and synthetic fuels, particularly in developing economies, is boosting the market for gasification-derived products. The ability of gasification to produce high-value chemicals from low-cost feedstocks enhances its economic attractiveness. However, the high capital costs associated with gasification plants and the technical complexities of the process can pose challenges to market growth. Additionally, the availability of competing technologies, such as direct biomass combustion and solar photovoltaics, may impact the adoption rate of gasification in certain sectors.
Based on Region, the Gasification Market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. The Asia-Pacific gasification market accounted for the largest share and is expected to retain its dominance in the forecasted years. Rapid industrialization, increasing energy demand, and abundant coal resources in countries like China and India are driving the growth of gasification in this region. China has been a leader in coal gasification technology deployment. The North American market is anticipated to show significant growth during the forecast period, driven by increasing interest in biomass and waste gasification for renewable energy production and the potential for carbon capture and storage integration with gasification systems.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2023 |
US$ 784.3 billion |
|
Market CAGR |
6.2% |
|
By Feedstock |
|
|
By Application |
|
|
By Region |
|
Download Free Sample Report
The global gasification market size was valued at US$ 784.3 billion in 2023 and is projected to grow at a CAGR of 6.2% from 2024-2030.
The Gasification Market is segmented based on Feedstock, Application, and Geography.
The leading players in the global Gasification Market are Air Products and Chemicals, Inc., General Electric Company, Royal Dutch Shell plc, Mitsubishi Heavy Industries, Ltd., Siemens Energy, ThyssenKrupp AG, Linde plc, and others listed in the Competition Assessment section.
Historic years considered for the market study are 2019-2022, 2023 is considered as the base year for market estimation, and Seven years forecast is presented from 2024 – 2030.
| 1.Executive Summary |
| 2.Global Gasification Market Introduction |
| 2.1.Global Gasification Market - Taxonomy |
| 2.2.Global Gasification Market - Definitions |
| 2.2.1.Feedstock |
| 2.2.2.Application |
| 2.2.3.Region |
| 3.Global Gasification Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Gasification Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Gasification Market By Feedstock, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Coal |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Biomass |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Waste |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Gasification Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Electricity Generation |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Chemical Production |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Fuel Production |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global Gasification Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Gasification Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Feedstock Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Coal |
| 8.1.2.Biomass |
| 8.1.3.Waste |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Electricity Generation |
| 8.2.2.Chemical Production |
| 8.2.3.Fuel Production |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Gasification Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Feedstock Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Coal |
| 9.1.2.Biomass |
| 9.1.3.Waste |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Electricity Generation |
| 9.2.2.Chemical Production |
| 9.2.3.Fuel Production |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Gasification Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Feedstock Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Coal |
| 10.1.2.Biomass |
| 10.1.3.Waste |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Electricity Generation |
| 10.2.2.Chemical Production |
| 10.2.3.Fuel Production |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Gasification Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Feedstock Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Coal |
| 11.1.2.Biomass |
| 11.1.3.Waste |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Electricity Generation |
| 11.2.2.Chemical Production |
| 11.2.3.Fuel Production |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Gasification Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Feedstock Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Coal |
| 12.1.2.Biomass |
| 12.1.3.Waste |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Electricity Generation |
| 12.2.2.Chemical Production |
| 12.2.3.Fuel Production |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Air Products and Chemicals, Inc. |
| 13.2.2.General Electric Company |
| 13.2.3.Royal Dutch Shell plc |
| 13.2.4.Mitsubishi Heavy Industries, Ltd. |
| 13.2.5.Siemens Energy |
| 13.2.6.ThyssenKrupp AG |
| 13.2.7.Linde plc |
| 13.2.8.Sedin Engineering Company Limited |
| 13.2.9.Synthesis Energy Systems, Inc. |
| 13.2.10.KBR Inc. |
| 13.2.11.Chevron Corporation |
| 13.2.12.Exxon Mobil Corporation |
| 13.2.13.ANDRITZ AG |
| 13.2.14.McDermott International, Inc. |
| 13.2.15.Larsen & Toubro Limited |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Download Free Sample
