Global wood gas generator market is expected to grow dramatically over next seven years on account of increasing demand as major fuel in internal combustion (IC) engines. Wood gas generator is basically used to convert timber or charcoal into combustible gas. Wood gas, also known as syngas, consists of atmospheric gases such as nitrogen, hydrogen, carbon monoxide and methane traces, which is used to power internal combustion engines. Increasing energy demand along with a goal to reduce carbon footprint levels in the environment is anticipated to be a key factor driving global wood gas generator market growth in the upcoming years. Wood gas is largely preferred over petroleum and coal based fuels owing to volatile crude oil prices and ecofriendly nature. Moreover, wood gas is increasingly being used to efficiently run power plant gas turbines owing to depleting conventional sources. Potential to substitute the conventional fossil fuels is anticipated to have positively impact the market penetration in near future.
Growing demand for converting waste charcoal and timber into efficient energy sources coupled with minimal carbon emission is expected to augment wood gas generator demand over the forecast period. The gas generator has a closed carbon cycle (CCC) which helps in reducing harmful emissions as compared to conventional generators. This advantageous characteristic helps in maintaining sustainability in nature, which in turn is increasing overall demand particularly in mature economies such as U.S. and European Union owing to stringent emission norms. Wood gas generator is known for its feasible use in stationary designs particularly for small and medium combined power & heat scenarios. Furthermore, simple design and low fabrication cost along with uneven oil and gas reserves distribution is further predicted to drive global wood gas generator demand over the forecast period.
On the basis of fuel sources, the market has been broadly segmented into timber and charcoal. Timber is a renewable resource and is abundantly available for multiple use, hence it accounts for the largest fuel source segment. Additionally, wood gas generator is extensively used in regions with large forest covers owing to easy timber availability. Wood gas generator utilizing charcoal as a fuel source produces cleaner syngas with low carbon emission as compared to conventional fuel sources. This potential charcoal property is projected to have a notable impact on the global wood gas generator market over the forecast period. High transportation cost is expected to be major factor restricting wood gas generator market growth over the forecast period. Slow heating speed coupled with high raw material to yield ratio is another factor that can impede the global demand. Additionally, carbon monoxide production during gasification, leading to several health hazards in humans can hamper wood gas generator market growth in the upcoming years.
North America and Europe are expected to emerge as regional leaders in wood gas generator market owing to increasing energy demand in these regions. Moreover, environmental regulations favoring low cabin footprint levels in atmosphere particularly in economies such as U.S and U.K is further anticipated to complement wood gas generator market in these regions. Asia Pacific wood gas generator market is expected to witness significant growth over the forecast period on account of fluctuating petroleum prices. Increasing industrial awareness towards reducing dependence on conventional fossil fuels for power generation in countries such as Japan, Korea, India and China is anticipated to foster market penetration in the region. Central & South America wood gas generator market is predicted to grow at an above average growth rates as a result of extensive forest cover in these regions.
Global wood gas generator market is moderately fragmented with no major player accounting for majority of the market share. Key players are involved in extensive innovation and R&D in order to increase market share and ultimately penetrate regional markets. Major companies operating in global wood gas generator market include L.E.A.F. Generator, GASEK, Vulcan Gasifier and GEK Gasifier.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.