The global syngas market size was USD 48.71 Billion in 2021 and is expected to register a revenue CAGR of 5.9% over the forecast period. Increasing investment in power generation in various countries and rapid adoption of Underground coal gasification (UCG) process are driving demand for syngas. In addition, increasing demand for alternative and renewable sources of fuel is expected to drive revenue growth of the market.
UCG process converts underground coal into a mixture of gaseous products. Methane, hydrogen, carbon monoxide, and carbon dioxide are the primary byproducts. Syngas is a mixture of hydrogen and carbon monoxide that can be used to create liquid fuel or synthetic natural gas. To inject and extract gas in UCG, wells are drilled deep into the coal seam. In principle, coal can be burned underground at high pressure to create the gases by pumping air or oxygen into the coal seam; these gases are then retrieved through separate wells to the surface. UCG does away with the requirement for mining, as well as the related risks to miners and environmental damage. Due to the fact that only one-sixth to one-eighth of the world's coal reserves can be commercially mined, it also converts deep or difficult-to-access coal seams into useful energy resources. According to experts, UCG could raise the U.S. reserves of useable coal by 300%. Rapid adoption of the UCG process is driving revenue growth of the market.
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Increasing investment in power generation in various countries and high demand for alternative and renewable sources of fuel can increase demand for syngas. Syngas is a renewable fuel, which is produced from wood, waste wood, cellulose, or lignin. It is a mixture of hydrogen, carbon monoxide, carbon dioxide, methane, and nitrogen depending on the type of feedstock. The methane can be isolated from these parts and processed to produce bio SNG. Gas engines can run on both syngas and bio SNG as fuel.
Syngas can be used to produce electricity. A turbine-powered by syngas can generate electricity. The spinning blades are rotated when the hot syngas expands through the turbine. The rotating blades power a generator to generate electricity and operate a compressor to push more pressured air into the combustion chamber. Similar to an internal combustion engine, heat capture can be added to the system. Factors such as significantly higher capital investments in setting up syngas plants, and increasing government initiatives to reduce usage of coal are restraining revenue growth of the market. However, rapid technological innovations in production of syngas and alternative and renewable sources of energy is expected to support growth of the market in the long term.
The latest research report by Emergen Research, named ‘Global Syngas Market - Forecast to 2030’, entails a comprehensive review of the global Syngas Market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period.
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Emergen Research has segmented the global syngas market based on production technology, gasifier type, feedstock, application, and region:
By Production Technology Outlook (Revenue, USD Billion, 2019–2030)
Steam Reforming
Partial Oxidation
Auto-Thermal Reforming
Two-step Reforming
Biomass Gasification
Gasifier Type Outlook (Revenue, USD Billion, 2019–2030)
Moving Bed Gasifier
Fluidized Bed Gasifier
Entrained Flow Gasifier
Others
Feedstock Outlook (Revenue, USD Billion, 2019–2030)
Coal
Natural Gas
Petroleum Byproducts
Biomass
Application Outlook (Revenue, USD Billion, 2019–2030)
Chemicals
Fuel,
Electricity
Others
The report also studies the key companies of the Syngas market along with analysis of their business strategies, MA activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some major companies in the global market report include
Air Products Inc.,
KBR Inc.,
Linde plc,
Siemens,
Haldor Topsoe A/S, Air Liquide,
BASF SE,
Synthesis Energy Systems, Inc.,
Dow Inc., and
Sasol Limited.
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Global Syngas Market Geographical Landscape - Synopsis:
The report closely studies the growth trajectory of the global Syngas market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
Key Features of the Syngas Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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