Market for Global Syngas to Grow at 8.54 percent CAGR
TechNavio, the independent London-based global research firm, today announced the publication of its research report on Global Syngas Market. The report finds increasing costs of licenses as a major challenge to the growth of this market. The findings are for the forecast period 2014-2018.
The syngas value chain consists of feedstock suppliers, syngas production technology licensors, producers of syngas and manufacturers of its derivatives, and end-users. The development of syngas production technology requires high R&D expenditure. Due to this, vendors with large technical and financial resources are dominating the market. Such vendors are also innovating continuously through additional infused funds. Moreover, licensees of such technology—producers of syngas—are facing the challenge of paying high amounts in royalties. In addition, fluctuating raw material costs is posing a threat to the profitability of syngas producers, thereby curtailing the growth of the market.
In spite of this, owing to a greater focus on producing syngas from various cost-effective and sustainable resources, the Global Syngas market is witnessing increasing investment in R&D activities. The leading vendors of the market, such as Royal Dutch Shell, Kellogg, Brown and Root, Sasol, have been increasing their investment in the R&D of syngas production technology. In addition, vendors such as General Electric have introduced supporting technology that is aiding in the generation of power from syngas. Such increased investments are leading to enhancement in the efficiency of syngas production and reduced costs over a period.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Global Syngas Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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