Forecast and Trend of Recent Developments in Waste to Energy Technologies Industry
Based on technology, the market is bifurcated into thermal and biological markets. The thermal WTE market is further divided into incineration, gasification, and pyrolysis sectors. Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
The global waste to energy market is expected to grow at a CAGR of 8.3% from 2017 to 2025.
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Waste to energy (WTE) refers to the generation of electricity or heat using waste. The waste dumped on landfill sites can be used in an efficient manner to generate energy in the form of electricity or heat. The global waste to energy market has benefitted from the increasing pressure from the government to reduce dependency on fossil fuels and minimize the amount of waste thereby promoting environmental sustainability. More than 100 plants went into operation from 2015 to 2016, increasing the annual production capacity of the global waste to energy market.
The global waste to energy market is expected to grow at a CAGR of 8.3% from 2017 to 2025.
Market Dynamics:
Drivers:
- Rising demand for renewable sources and the need to reduce dependency on fossil fuels is contributing to market growth.
- Abundant and cheap availability of feedstock makes the waste to energy conversion feasible and an attractive method for energy generation.
- Government policies, such as regulatory norms on renewable portfolio standards, tax incentives supporting waste conversion to energy, and restriction and high taxes on landfills is propelling the demand for greater waste to energy conversion.
Restraints:
- Initial expense of setting up a plant and installing expensive components is expected to hinder market growth.
Market Players:
The top players in the global waste to energy market include Veolia Environnement S.A. (France), Amec Foster Wheeler plc (UK), China Everbright International Limited (Hong Kong), Covanta Energy Corporation (U.S.), C&G Environmental Protection Holdings Ltd. (Hong Kong), Suez Environment S.A. (France), Keppel Seghers Engineering Singapore Pte. Ltd. (Singapore), Waste Management Inc. (U.S.), Constructions industrielles de la Mditerrane S.A. (CNIM) (France), and Babcock & Wilcox Enterprises (U.S.).
KEY TAKEAWAYS
MARKET LANDSCAPE
By Technology
- Thermal
- Incineration
- Pyrolysis
- Gasification
- Biological
By Geography
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
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