Global Gasifier Balance of Plant (BOP) Market 2015 is expected to reach $125.85 billion by 2022
Global Gasifier Balance of Plant (BOP) Market Outlook – Trends, Forecast, and Opportunity Assessment (2014-2022)
The Global Gasifier Balance of Plant market is valued at $66.5 billion in 2014 with CAGR of 9.96% it is expected to reach $125.85 billion by 2022. Gasifier Balance of Plant market is expected to have market growth due to demand in low price energy. Vast resources, cheap end-product and clean energy are the key drivers for the gasifier balance of plant market. The prices of natural gas is restraining the market growth, whereas the factors such as biomass and waste feedstock are providing growth opportunities. Gasification is developing swiftly in the sectors of energy exchange and chemical manufacture. Balance of plant is an essential ingredient of the gasifier balance of plant (Bop) components market. It makes up for around 45% of the financial spending in production capacity accumulation.
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Gasifier technology is now evolving in a number of sectors such as oil refining and energy, municipal waste treatment, bulk power generation, and as a method of power generation in both grids connected and off- grid areas. The initial investment costs are also fairly low when compared to other sources of power generation such as wind and solar, which encourages investment in this market. At present Africa and Middle East are the major markets for gasifiers with the highest number of installations. The rising Asian economy favoring the new investments in this sector providing way for several upcoming projects, particularly China has emerged as the most attractive investment destination. Growth in North America might slow down due to falling natural gas prices. Developing economies where rural electrification is still a problem can also prove to be a potential market of gasifier.
Global Gasifier Balance of Plant market is segmented by type, by construction, by application, by design and by Geography. Based on type market is further segmented entrained gasifier, moving/fixed bed and fluidized bed. Based on construction, market is categorized into pre-reactor, post-reactor and gasification. Based on application, market is classified into waste to energy, petcoke residuals, bio-mass to energy & liquid, plasma and coal to energy & liquid. Based on design it can be segmented as updraught, downdraught, fluidized bed, cross- draught, molten bed, entrained bed, and double fired. Market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World.
The Key players in the market include,Siemens, Royal Dutch Shell Plc, Synthesis Energy Systems Inc., Kbr Inc., Cb&I, Sedin Engineering Company Limited, Mitsubishi Heavy Industries Ltd., General Electric and Air Liquide.