According a recently published report by Research Nester on “Underground Coal Gasification Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global underground coal gasification market in terms of market segmentation by end user industry, by feedstock, by technology, by gasifier type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Underground coal gasification (UCG) has the potential to increase global coal reserves used for power generation and gas-to-liquids processes. A combination of high oil prices, increasing global energy demand, and technological improvements, especially in directional drilling, has inclined interest in the UCG industry and several countries are now witnessing investments in their UCG industries. Owing to these factors, the global underground coal gasification market is anticipated to record a CAGR of 20% over the forecast period i.e. 2019-2027.
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Furthermore, underground coal gasification also eliminates several activities associated with underground coal mining including coal washing, coal stockpiling, and waste disposal including ash handling and disposal. Thus, underground coal gasification is an effective and environment-friendly technique to lower the operating costs associated with the use of coal, this contributes towards the growing popularity of coal gasification across both emerging and advanced economies.
On the basis of regional analysis, the underground coal gasification market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia-Pacific dominates the global market share, with rising demand from the chemical industry, primarily from refineries. The market growth in Asia can be attributed to several factors such as the rising demand for energy, the presence of significant coal reserves, and increasing demand for clean energy technologies. China’s refinery capacity constitutes 14.6% of the world’s refining capacity. The Chinese oil and gas sector is dominated by four national and provincial oil companies, which include PetroChina, Sinopec, China National Offshore Oil Corporation (CNOOC), and Yanchang Petroleum.
The factors that drive the underground coal gasification market include feedstock flexibility for syngas production and the growing chemical industry. In addition, underground coal gasification can be used for converting coal into useful gases without mining. This has further resulted in organizations working towards the reduction of environmental pollution across the globe. One such resultant development has been the decarbonization of the transportation sector. Such initiatives will further propel the coal gasification market growth during the forecast period.
Expanding Adoption of Clean Energy Technologies
Gasification harnesses the full energy potential of the feedstock while reducing the costs associated with disposal and environmental impact.
Lower capital requirement, reduced cost of plant installation, decreasing need for rail and road infrastructure, environmental obligations, and usage of deep lying coal deposit by converting them into useful products are few more factors to add towards the growth of the underground coal gasification market.
Currently the underground coal gasification market is observing subsequent growth owing to the rising demand from gaseous fuels. The rising need for the decarbonization of the transportation and chemicals sector will spur the adoption of coal gasification. Coal gasification offers an efficient way of producing clean-burning hydrogen for cars and power-generating fuel cells. The rising need for clean fuels and the environmental benefits of using coal gasification will boost the overall market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the underground coal gasification market which includes company profiling of Air Products & Chemicals, Inc., Air Liquide, BASF SE, BP Plc., The Linde Group, GE, Haldor Topsoe AS, Royal Dutch Shell, Sasol and Siemens AG.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the underground coal gasification market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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