Wood Gas Generator Market Set to Garner Staggering Revenues by 2025
Global Wood Gas Generator Market: Overview
With consistently rising population across the world and rapid urbanization, the demand for energy is at an all-time peak, but the natural resources are limited. As a result, the development of alternate sources of energy is receiving aggressive investments, including the wood gas generator, which is a type of generator that can convert the waste such as timber or charcoal into useful energy. The wood gas generator not only provides cleaner energy with lesser carbon emission, and hence is gaining favors from the governments. Consequently, the global wood gas generator market is projected to expand at a robust growth rate during the forecast period of 2016 to 2024.
This report on the global wood generator market is a comprehensive examination of all the major factors that are expected to influence the demand in the near future, positively or negatively. The report also high points a few trends that can provide extended opportunities for the existing and newer players of the market. The report also contains a detailed section on company profiles, wherein a number of prominent companies of this market have been studied for their market share, regional presence, and recent strategic developments. The global wood gas generator market can be segmented in terms of application, fuel source, and geography. By fuel source, the market can be segmented into timber and charcoal. Geographically, the report studies the opportunities available in the regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Global Wood Gas Generator Market: Trends and Opportunities
Besides escalating energy needs, growing demand for wood gas, also known as syngas, for internal combustion (IC) engines is the primary driver for this market. Wood gas consists of atmospheric gases such as hydrogen, nitrogen, methane traces, and carbon monoxide, which powers the IC engines. Environmental concerns are another important factor favoring the global wood gas generator market. The latter is preferred over petroleum and coal based fuels because of fluctuating crude oil prices and lack of eco-friendliness. Increasing use of wood gas to run power plant turbines in order to ease the dependency on depleting conventional sources, growing requirement to convert waste charcoal and timber into efficient energy, simplicity of design and low fabrication costs are some of the factors that are expected to positively reflect on the market during the forecast period. Conversely, factors such as high transportation cost, slow heating speed, and high raw material to yield ratio are some of the factors that are expected to restrain the growth rate of the global wood gas generator market over the course of next few years.
Global Wood Gas Generator Market: Regional Outlook
By geography, the regions of North America and Europe currently serves most of the demand for wood gas generator, which can be attributed to escalating energy demand from the developed nations of the U.S., the U.K., Canada, France, and Germany. Governments in these countries have stringent policies against carbon footprint levels, which is further fueling the demand. Asia Pacific is also expected to expand as a regional market at a healthy CAGR during the forecast period, which is due to increasing industrial awareness towards decreasing dependency on fossil fuels for power generation. India, China, Japan, and Korea are some of the most profitable country-wide markets for wood gas generator.
Companies mentioned in the research report
GEK Gasifier, L.E.A.F. Generator, Vulcan Gasifier, and GASEK are some of the prominent players in the global wood gas generator market.