Global Gasifier Balance of Plant Components Market: Overview
Gasification is an old technology with its origin tracing centuries back. However, the technology has greatly evolved with technological advancements, and the development is unlikely to halt any time soon. Gasification is nowadays increasingly used in the chemical production and energy conservation sector. Balance of plant is a critical component in gasifiers and accounts for nearly 40% of the investment in generation capacity segment.
The report provides a granular analysis of the various factors supporting the growth of the global gasifier balance of plant (BoP) component market. It presents insights into the factors facilitating its growth and lists down those pose a threat to the market. It thus includes exhaustive information factoring prevalent opportunities, manufacturing cost structure, distribution channel, supply chain analysis, and prevalent competition.
Global Gasifier Balance of Plant Components Market: Trends and Opportunities
The increasing installations of gasifiers and the rising demand for low cost energy are the key factors endorsing higher investment in the global gasifier BOP components market. BoP also plays a crucial role in optimizing the price at which gasifiers are available, thus providing opportunities for cost reduction in case BoP expenses are monitored consistently.
BoP components are critical structures ensuring the timely commissioning of gasifiers. When designing gasifiers, it is rather important to take note of the rising environmental concerns. The Balance of Plant are thus constructed to comply with the prevalent environmental regulations. Compared to other power plants such as solar and wind, initial investment in gasifier BoP components is lower. This is a key factor attracting investment in the market.
Furthermore, the market is directly influenced by the prevailing price of natural gases. The increasing production of shale gas worldwide is likely to bring down the price of natural gas. This could prove a major restraint for the global gasifier BoP components market by limiting its scope of expansion.
Global Gasifier Balance of Plant Components Market: Regional Outlook
Regionally, the global BOP components market can be segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Rest of the World. Among these nations, the Middle East and Africa has emerged as a major market for gasifiers and exhibits the highest number of installations in a year. Besides this, the market is also expected to gain from the growing Asian economy. As governments plan on investing in gasifiers as a part of their upcoming projects, the demand for gasifier BOP components is expected to rise in response. In Asia Pacific, the demand for the same will be considerably high in China.
Growth witnessed in the developed markets for North America will however slow down due to the falling process of natural gas. As coal has remained the predominant feedstock, countries with abundant resource of the same will provide lucrative opportunities for the gasifier BOP components market.
Global Gasifier Balance of Plant Components Market: Vendor Landscape
In order to study the competition prevailing in the global gasifier balance of plant component market, the report profiles companies such as Ecocycle, Dakota Gasification, Sasol Lurgi, Westinghouse Plasma Corporation, KBR, Shell, E- Gas, KBR, and Pratt & Whitney. Using SWOT analysis, the strengths and weaknesses of the companies profiled are gauged. The analysis also presents insights into the threats and opportunities that these companies are likely to witness through the course of the forecast period.