USD 10.36 billion Variation in Coal Gasification Market Size With 78% Growth Contribution from APAC – Exclusive Technavio Report – QNT Press Release

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NEW YORK, July 29, 2022 /PRNewswire/ — The report titled Coal Gasification Market by Application and Geography – Forecast and Analysis 2022-2026 has been recently added to Technavio’s catalog. The report identifies the market to garner an accelerating growth momentum at a CAGR of 15.73% from 2021 to 2026 with a prediction of 15.19% YOY growth to be recorded in 2022. The analysts have categorized the global coal gasification market as a part of the global coal and consumable fuels market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the coal gasification market during the forecast period.

For Insights on the Market Growth Variance and YOY Growth Analysis, View Report Sample PDF

“One of the primary growth drivers for this market is the rise in global energy demand.“, says a senior analyst for the Energy industry at Technavio. According to the IEA, the demand for chemical products has been increasing substantially over the past two decades, primarily driven by the demand for nitrogenous fertilizers and plastics. Moreover, according to the IEA , global electricity demand increased two-fold during the past two decades. By 2040, global energy demand is expected to grow by more than 25%. This will drive market growth. In addition, other factors such as rising government support, and economic benefits of coal gasification have compelled the vendors to offer innovative gasification solutions.

However, rising environmental concerns will emerge as one of the key factors hindering the market’s growth. The sulfur content in the coal results in the production of acid gases owing to the high temperatures and low oxygen levels in the gasifier. Similarly, the nitrogen content in coal results in the formation of a small amount of ammonia and hydrogen cyanide. Underground coal gasification mostly takes place deep under the ground in unexposed coal seams. Vendors should ensure the efficiency of coal gasification processes and take care not to cause severe environmental damage that could take decades to recover. Such factors may limit the growth of the market during the forecast period.

For market dynamics and their impact analysis, Request for Sample Report

• The coal gasification market has been segmented by Application into Chemicals, fuels, and power,
• The chemicals application segment held the largest coal gasification market share in 2021.
• The segment will continue to account for the highest revenue throughout the forecast period.
• The growth of the segment can be attributed to the rising demand for chemicals and chemical products and the rising focus on the efficient use of coal.
• In addition, the adoption of clean technology in the chemicals sector to reduce carbon emissions and collaborations with various vendors in the market offering advanced technological solutions will also boost the market growth

• 78% of the market’s growth will originate from APAC during the forecast period.
• China, Australiaand Indonesia are the key markets for coal gasification in APAC. Market growth in this region will be faster than the growth of the market in other regions.
• The rising demand for energy, the presence of significant coal reserves, and the rising demand for clean energy technologies will facilitate the coal gasification market growth in APAC over the forecast period.

Get Segment-based Insights and Regional Opportunities to make informed purchase decisions

• The coal gasification market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
• To make the most of the opportunities and recover from the pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
• The coal gasification market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
• The research report offers information on several market vendors, including Air Products and Chemicals Inc., Basin Electric Power Co., CASE GROUP, Chiyoda Corp., Ergo Exergy Technologies Inc., Johnson Matthey Plc, KBR Inc., L Air Liquide SA, Larsen and Toubro Ltd., McDermott International Ltd., Mitsubishi Heavy Industries Ltd., Oil and Natural Gas Corp. Ltd., Oxeye Energy Holdings Ltd., Regius Synfuels Ltd., SEDIN Engineering Co. Ltd.CNCEC, Siemens AG, Swan Hills Synfuels LLP, Synthesis Energy Systems Inc., and thyssenkrupp AG

Want to know more about the vendors and their product offerings, Download Sample Now!

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