Coal Gasification Market to see Huge Growth by 2029: KBR, ThyssenKrupp, McDermott
Published Via 11Press : The process of turning coal and water into syngas, which predominantly contain hydrogen (H2), carbon monoxide (CO), methane (CH4), carbon dioxide (CO2), and water vapour (H2O), is known as coal gasification. Before gasifying coal, coal gas, commonly referred to as “town gas,” was created. Before natural gas was widely extracted from oil wells for heating and municipal lighting, coal gas was utilised instead.
Currently, large-scale coal gasification facilities are mostly utilised to produce chemical feedstocks or energy (in both traditional thermal power plants and molten carbonate fuel cell power plants). A hydrogen economy may run on the hydrogen produced by coal gasification, or it could be used to make ammonia or boost the efficiency of fossil fuels. As an alternative, syngas produced from coal may be transformed into liquid fuels for vehicles, such as petrol and diesel, or into methanol, which can be used as a liquid fuel or fuel additive or transformed into petrol.
Natural gas produced by coal gasification can be cooled until it liquefies and is used as a transportation fuel. In the United States, coal is most recognised for its contribution to the nation’s energy supply, which makes up close to half of the total. The bulk of coal is burnt in conventional coal-fired power plants, but some of it can be turned into a gas that can be used to produce electricity, hydrogen, and other energy products.
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| Attributes | Details |
| Study Period | 2029 |
| Base Year | 2022 |
| Unit | Value (USD M) |
| Key Companies Profiled | General Electric Company (US), KBR Inc. (US), McDermott International, Inc. (US), Royal Dutch Shell PLC (Netherlands), ThyssenKrupp AG (Germany), Oil and Natural Gas Corporation Ltd. (India), Mitsubishi Heavy Industries Ltd (Japan), Sedin Engineering (China), Petrochemical Corporation of Singapore Private Limited (Singapore), Ergo Exergy Technologies Inc. (Canada) |
| CAGR | 11.2% |
The report offers Major leading Key players:
- General Electric Company
- KBR
- Royal Dutch Shell PLC
- Oil and Natural Gas Corporation Ltd.
- Mitsubishi Heavy Industries Ltd
- ThyssenKrupp
- Sedin Engineering
- Petrochemical Corporation of Singapore Private Limited
- McDermott International
- Ergo Exergy Technologies
By Application:
- Fuel Gas
- Feedstock
- Power Generation
- Fertilizer
- Chemical Making
- The United States will contribute the most to the global coal gasification market’s growth over the course of the forecast period, according to a research analyst at HTF MI. Due to new strategies used by companies in the coal gasification market, it is anticipated that the rivalry would get even more fierce in the next years.
- The Coal Gasification research report includes information on the competitive environment and the product/service offerings of top firms to assist customers in increasing their revenue shares in the sector.
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Market Overview:
- “Air Products and the Danish chemical technology business HaldorTopsoe inked a worldwide alliance deal in May 2020 to work together on large-scale ammonia, methanol, and dimethyl ether production. Topsoe’s technological know-how in methanol and ammonia will be combined with Air Products’ expertise in large-scale development, gasification, and hydrogen infrastructure through this alliance.
- For the sake of ensuring efficient and safe operations, the worldwide coal gasification market is tightly regulated by several agencies. The coal gasification industry is subject to a number of environmental laws, including those governing air pollutants, limitations on wastewater discharge, and requirements for the disposal of solid waste.
- Safety regulations that apply to coal gasification activities also apply to the design, construction, operation, and maintenance of gasification plants. The market for coal gasification is highly competitive and fragmented, with numerous players vying for the largest possible market share.
- The companies are setting up strong production capacities to develop new plants and upgrade the existing ones. Moreover, they are actively investing in research and development to offer more energy-efficient and less polluting products.
- As new firms enter the market and current competitors adjust to the shifting market conditions, the competitive situation is continuously changing.
- The market’s participants can get a competitive edge over their rivals by utilizing strategic initiatives including product portfolio expansion, supplier collaborations, mergers and acquisitions, and other instruments.
- Air Liquid, General Electric, Siemens, Mitsubishi Heavy Industries, and Eastman Chemical Company are a few of the prominent participants.
Influencing Trend:
- The necessity for sources like coal gasification is brought on by the global trend of adopting clean energy to reduce carbon emissions. It is projected that coal gasification, which can turn coal into clean energy, would be able to meet this need in considerable part.
- The efficiency of this system is improved by technological developments such as integrated gasification combined cycle in coal gasification, which decreases the cost of generating gas from coal and enhances its compatibility with other energy sources. Rising market expansion is a result of emerging nations’ increasing use of this clean energy source.
Market Growth Drivers:
- The worldwide coal gasification industry is expanding as a result of rising energy demand in developing nations. Effective and efficient coal gasification contributes to meeting the growing demand for power.
- The global need for affordable energy solutions is driving market expansion for oil gasification. Compared to other fuel alternatives like oil and gas, coal gasification is significantly more cost-effective since it produces valuable byproducts like usable hydrogen.
- Additionally, the need for ecologically friendly instruments is growing, which promotes the growth of the coal gasification market. Compared to burning conventional coal, this approach minimises carbon emissions and pollution levels. This encourages growth even more while lowering global carbon footprints.
Restraints:
- In comparison to other clean energy sources like natural gas, the cost of implementing this sophisticated coal gasification technology is considerable. Additionally, coal gasification is a time-consuming process that discourages price-conscious customers and businesses from using it in place of other readily available, less expensive options.
- Despite producing lower carbon emissions, coal gasification is still classed as a fossil fuel and still releases a variety of contaminants. The potential market expansion is constrained by environmental effects and restrictions.
- Coal gasification adoption rates are constrained by competition from cheaper and more convenient energy sources like natural gas and renewable energy sources.
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Key findings of the global coal gasification market study include:
- Market CAGR from 2022 to 2029
- Detailed information on market drivers for coal gasification during the coming several years.
- Detailed Insights on Coal Gasification Future Trends and Changing Consumer Behaviour
- A forecast of the size of the global coal gasification market and its share of the parent market, broken down by type, application, and nation.
- A thorough understanding of consumer demand in the coal gasification industry
- An understanding of the market’s competitive environment and in-depth data on key players
- Detailed information on the variables that would hinder the development of players in coal gasification
- Business transformation and significant changes in technology and cost structure of the coal gasification industry, a rotating point in globalization, challenges associated with regulatory compliance in the coal gasification market, a significant slowdown in developed economies and the emergence of new forms of competition in the coal gasification industry are among the key triggers.
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