COVID-19 Impact analysis

The wood gas generators market is also not left untouched with the negative impact of COVID-19 crisis as the shrinkage in the energy demand for both industrial as well as automobile sector hit the market adversely. The imposition of lockdowns as well as halts in production were the major contributors to the decline in power demand. The supply chain for the end use industries of the wood gas generators were hampered owing to the restriction on cross border trade, which reflected badly on the revenue of the wood gas generators. 
Also, the wood scrap market which acts as a feedstock or raw material for the wood gas market, experienced a declined growth due to the lockdown. In addition, the wood gas market also faced competition from the oil & gas market as a source of fuel due to the decrease in prices of conventional fossil fuels (oil & gas) during the pandemic.

Top Impacting Factors

• The major driver of this market are the rapidly growing demand for energy, especially to drive automobiles running on IC engines, as well as the need for a clean fuel to substitute gasoline. Since, the wood gas has the advantage of lesser emissions of Carbon dioxide compared to that of gasoline and also emit lesser or no volume of soot. Hence, we can say that the wood gas promotes eco-friendly fuel consumption and contributes less to global warming and air pollution.
• They are being used in power plants to run gas turbines due to their fuel efficiency and lesser emissions as they are capable to work on a closed carbon cycle (CCC) to maintain sustainability and prevent pollution as well as depletion of conventional sources of energy. This allows wood gas an opportunity to penetrate deeper into the industrial segment.
• Another advantage of the wood gas generator is the simple design, operability, and low fabrication costs.
• However, they are more beneficial for the areas that have abundant availability of the timber wood or charcoal in their vicinity. Otherwise, the transportation costs may exceed the benefits offered by the wood gas. On the other hand, the slow heating speed and low raw material to yield ratio are a few restraints to the growth of wood gas generator market.

Market Trends

• New product launches to flourish the market: Spanner Re² GmbH, a German manufacturer of biomass gasification plants has launched HKA70, a new woodchip fired biomass combined heat and power (CHP) plant in 2018. This allowed to enhance the efficiency of the plant by nearly 20%, making it more efficient, powerful and cost competitive. 
• The major demand for the wood gas generators is anticipated from the North American region owing to the growing demand of power and an immediate need to decrease their carbon footprints. Canada being a home to a large volume of timber wood can emerge as a global leader in the wood gas consumption and thus is a region of utmost importance for wood gas generators market.
• Another major source of demand for wood gas generators may arise from Asia-Pacific region due to the rapid industrialization among the fastest developing nations like India and China causing an upsurge in power demands. Apart from that the obligations to reduce dependency on conventional fossil fuels in these regions are opening up the market opportunities for wood gas generator market.

Key Segments Covered

Key Benefits of the Report

• This study presents the analytical depiction of the Wood Gas Generator industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Wood Gas Generator market share.
• The current market is quantitatively analyzed from 2020 to 2028 to highlight the Wood Gas Generator market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed Wood Gas Generator market analysis based on competitive intensity and how the competition will take shape in coming years