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Gasification Market to Reach USD 901.51 Billion by 2027; Never-ending Energy Demand to Accelerate Market Progression, states Fortune Business Insights™

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Pune, Aug. 25, 2020 (GLOBE NEWSWIRE) — The global gasification market size is expected to reach USD 901.51 billion by 2027, exhibiting a CAGR of 8.4% during the forecast period. The rising need for clean energy across the globe will subsequently aid the expansion of the market, states Fortune Business Insights, in a report, titled “Gasification Market Size, Share & COVID-19 Impact Analysis, By Feedstock (Coal, Petroleum, Natural Gas, and Biomass/Waste), By Application (Chemical, Liquid Fuel, Power, and Gaseous Fuel), and Regional Forecast, 2020-2027.” The market size stood at USD 479.13 billion in 2019.Click here to get the short-term and long-term impact of COVID-19 on this market.

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The coronavirus emergency has created a hassle and distraught for industries and across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.The report on the gasification market incorporates:Extensive study of this marketIntuitive data about future developmentsLeading market driversThrough analysis of dominant regionsInsights into the competitive landscapeCoronavirus impact on the global market
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Market Driver:Coal Industry to Offer Impetus to MarketThe growing demand for coal has led to the expansion of the coal industry. The rising utilization of coal in the power generation sector is expected to spur lucrative opportunities for the market. According to the BP Statistical Review, 2019, coal production output rose at a rate of 4.3% y-o-y in 2018, the fastest in the last five years. The growing coal mining activities in the developing nations will contribute positively to the growth of the market. Additionally, the development of coal-based power plants in European countries will have a tremendous impact on the market. Nonetheless, the countless benefits of gasification will further enhance the scope of the market during the forecast period.Delay in Biofuel Production to Limit Market During PandemicThe constraint on transportation and production will directly affect the growth of the market.  The low production rate will thus curb the supply of trillions of cubic meters of gas, billions of barrels of oil and millions of tons of coal from the global energy system. The lockdown and have narrowed the biofuels extraction activities, which in turn, will hamper the market. The delay in gasification projects around the globe will further diminish market development during the coronavirus pandemic.
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Regional AnalysisInflated Energy Demand to Boost Market in Asia PacificThe market in Asia Pacific is expected to dominate the global market during the forecast period. The growth in the region is attributed to the growing energy demand from various countries. The inclination towards clean energy sources is expected to contribute heavily to the growth of the market. The presence of coal reserves in China, India, and Japan are expected to enable speedy expansion for the market. According to the BP Statistical Review 2019, coal production in the Asia Pacific stood at 2,853.1 million tons of oil equivalent in 2019. The growing coal consumption will subsequently promote the growth of the market. North America and Europe are expected to witness a substantial growth rate during the forecast period. The growth in Europe is attributed to well-established biomass gasification plants with a capacity of more than 15,000 MW.Key Development:March 2020: EQTEC PLC, a major bioscience energy company based in the United Kingdom announced that it has signed a contract for the engineering design and installation of the first advanced gasification plant in Greece.List Of Key Companies in the Gasification Market:Air Liquide (France)Mitsubishi Heavy Industries (Japan)ANDRITZ (Austria)Thyssenkrupp ag (Germany)Synthesis Energy Systems, Inc. (U.S.)Larsen & Toubro Limited (India)Dakota Gasification Company (U.S.)EQTEC plc (Ireland)Air Products (U.S.)SEDIN ENGINEERING COMPANY LIMITED (China)
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Detailed Table of ContentIntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Emerging Trends – For Major CountriesLatest Technological AdvancementRegulatory LandscapePorters Five Forces AnalysisQualitative Analysis – Impact of COVID-19Impact of COVID-19 on the Gasification MarketSteps Taken by the Government to Overcome the ImpactKey Developments by the Industry Players in Response to COVID-19Potential Opportunities and Challenges due to COVID-19 OutbreakGlobal Gasification Market Analysis (USD Billion) (GW), Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By FeedstockCoalPetroleumNatural GasBiomass/WasteMarket Analysis, Insights and Forecast – By ApplicationChemicalLiquid FuelPowerGaseous FuelMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaTOC Continued..
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Have a Look at Related Research Insights:Liquid Biofuels Market Size, Share & COVID-19 Impact Analysis, By Product Type (Ethanol and Biodiesel), By Feedstock (Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, and Others), By Process (Fermentation, Transesterification, and Others), By Application (Transportation, Power Generation, and Heat), and Regional Forecast, 2020-2027Bioenergy Market Size, Share & COVID-19 Impact Analysis, By Product Type (Solid Biomass, Liquid Biofuel, Biogas, and Others), By Feedstock (Agricultural Waste, Wood and Woody Biomass, Solid Waste and Others), By Application (Power Generation, Heat Generation, Transportation, and Others), and Regional Forecast, 2020-2027Biogas Market Size, Share and Industry Analysis By Feedstock (Organic Residues & Waste, Energy Crops), By Application (Heating, Electricity, CHP, Others) And Regional Forecast 2019-2026Waste to Energy Market Size, Share and Global Trend By Technology (Thermo-chemical, Biochemical), By Waste Type (Municipal Solid Waste, Process Waste, Agriculture Waste), By Application (Electricity, Heat) and By Geography Forecast till 2026
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us:
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