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.
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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.
Emergen Research’s latest document, titled ‘Global Syngas Market - Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Syngas Market. The report’s authors have offered necessary details on the latest Syngas Market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Syngas Market industry entails useful insights into the estimated Syngas Market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcome in the near future. Those are further intended to assist businesses involved in this sector in sound decision-making and formulating lucrative business plans.
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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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
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.
Highlights of the TOC:
Report Overview
1.1 Research Scope
1.2 Key Syngas market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Syngas market size
2.2 Latest Syngas market trends
2.3 Key growth trends
Competitive Landscape
3.1 Global Syngas market key players
3.2 Global Syngas size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Syngas market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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