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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The report further sheds light on the competitive landscape of the Syngas Market to offer the readers an advantage over others. The competitive landscape section of the report talks about the recent advancements in the R&D and technologies undertaken by the prominent players, along with their strategic business expansion plans, product launches, and brand promotions. The report pays special attention to the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, agreements, corporate and government deals, and others adopted by the prominent players of the industry to expand their market presence and gain a substantial market position.
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
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The report also studies the key companies of the Syngas market along with analysis of their business strategies, M&A 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.
What Questions Should You Ask before Buying a Market Research Report?
How is the Syngas market evolving?
What is driving and restraining the Syngas market?
How will each Syngas submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
How will the market shares for each Syngas submarket develop from 2022 to 2030?
What will be the main driver for the overall market from 2022 to 2030?
Will leading Syngas markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
Who are the leading players and what are their prospects over the forecast period?
What are the Syngas projects for these leading companies?
How will the industry evolve during the period between 2020 and 2030? What are the implications of Syngas projects taking place now and over the next 10 years?
Is there a greater need for product commercialisation to further scale the Syngas market?
Where is the Syngas market heading and how can you ensure you are at the forefront of the market?
What are the best investment options for new product and service lines?
What are the key prospects for moving companies into a new growth path and C-suite?
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