Gasification Market Is Estimated To Witness High Growth Owing To Rising Demand For Clean Energy
- Ronak Shah
- U.S.A
- January 24, 2025

The Gasification Market is estimated to be valued at US$ 558.78 Bn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights The gasification market is primarily driven by the rising demand for clean energy across the globe.
Gasification is considered as one of the most environment-friendly methods for producing syngas from various feedstocks including coal, biomass, and municipal solid waste. Furthermore, gasification improves energy security by utilizing local and abundant resources to produce syngas. For instance, many countries are adopting gasification to reduce reliance on imported fossil fuels.
Key Market Trends: Increased investment in gasification projects: in recent years There has been a significant increase in investment in establishing new gasification projects around the world. Public incentives and funding for clean energy infrastructure development encourage private actors to invest in this area.
Increasing focus on waste-to-energy projects: Gasification of municipal solid waste enables the production of clean syngas alongside waste management. Many regions around the world are focusing on implementing waste-to-energy projects using gasification technology. To solve the problem of continuous waste transfer in an environmentally friendly manner.
Gasification Market Opportunities: With growing concerns around climate change and need for clean energy, gasification presents an opportunity for renewable energy generation. Gasification allows conversion of biomass and municipal solid waste into syngas, which can then be used to generate renewable electricity and heat. This helps reduce dependence on fossil fuels for power generation. Over the forecast period, support through policies promoting renewable energy and need to meet sustainability goals will drive more gasification projects for clean power production.
Syngas obtained through gasification has applications as a chemical feedstock and replacement for natural gas. It can be used to produce chemicals like methanol, hydrogen, and fertilizers. With volatile natural gas prices and need to lower carbon footprint of the chemical industry, gasification presents an opportunity for companies to have an alternate feedstock. Gasification of biomass also allows production of green chemicals. Investments in projects converting syngas to marketable chemicals will increase in the coming years.
Key Market Takeaways: The global gasification market size was valued at USD 558.78 Bn in 2024 and is anticipated to witness a CAGR of 4.4% during the forecast period. This is attributed to growing demand for clean energy and chemicals from sustainable feedstock.
On the basis of feedstock insights, biomass segment held the dominant market share in 2019 owing to worldwide push for renewable energy. Within biomass, agricultural residue segment is expected to witness highest growth during the forecast period.
By technology type, integrated gasification combined cycle held the largest share in 2019. It allows highly efficient conversion of any carbon-rich feedstock and flexible power generation. Over the forecast years, its share will continue growing with increasing adoption in large utilities.
Regionally, North America held the dominant market position in 2019 with major gasification projects in the US and Canada. This is because of supportive government policies and presence of key technology developers in the region.
Competitor Insights: Some of the prominent players operating in the gasification market include General Electric Company, Siemens AG, Royal Dutch Shell, Mitsubishi Heavy Industries, and Air Liquide. Over the forecast years, these players are expected to undertake strategic collaborations for technology development and project execution.
Recent Developments: In June 2023, a major RNG development was announced in Europe that will use gasification to convert over 200,000 metric tonnes of agricultural residues annually into pipeline quality methane. The $150 million plant expected to come online in mid-2024 exemplifies the scale of RNG undertakings currently underway. More information in full report