Global Waste to Energy Market: Synopsis
The detailed report published by Market Research Future (MRFR) projects that the global waste to energy market is marked to exhibit significant growth during the assessment period of 2016-2023 Increased consumption of energy and complexities faced during waste management as result of high rate of waste generation all over the world is generating demand for advanced technology that can efficiently convert waste into a form of consumable energy. Emergence of proper disposal of waste generated due to the presence of large population base in the developing and developed regions is leading to development of new techniques of waste management that can be converted it into consumable energy.
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Global Waste to Energy Market: Industry Updates
In January 2019, Valmet, a developer and supplier of technologies for paper, pulp, and energy industries, has announced that it will be developing boiler plants that are fired with refuse-derived fuel for a waste-to-energy plant in Urumchi, China.
In January 2019, it has been announced by Zoomlion, a leading waste management company that it is strategizing to open a waste-to-energy plant in the upcoming years.
Recycling of waste products is one of the major waste management solutions that are aiding in generating consumable energy that can be effectively utilized for various industrial as well as domestic purposes. Rapid exhaustion of non-renewable energy sources is generating demand for advanced technology that can harness energy from alternative sources such as waste. High demand for energy as a result of current energy crisis caused due to unprecedented consumption of energy and emergence of management of large amount of waste are majorly propelling the expansion of the global waste to energy market. Incorporation of advanced technology in recycling plants and increased research for development of techniques that can convert waste into energy in cost-effective manner is also contributing to the expansion of the global waste to energy market. However, lack of skilled professionals to operate and maintain waste to energy plants is restraining the expansion of the global market for waste to energy during the review period.
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Waste to Energy Market Segmental Analysis:
The global market for waste to energy is segmented on the basis of technology and method. By technology, the global waste to energy market is segmented into biological and thermal. The thermal technology segment is forecasted to command the major share of the global waste to energy market. On the basis of method, the global waste to energy market is segmented into incineration, anaerobic digestion, gasification, pyrolysis, and fermentation.
Waste to Energy Regional Market Analysis:
The global market for waste to energy has been geographically segmented into five regions such as South America, North America, Europe, Asia Pacific (APAC), and the Middle East and Africa. The Asia Pacific region commands the dominant share of the global waste to energy market owing to the rapid rise in generation of waste due as a result of increasing population base, increased energy consumption, and rising environmental awareness in the emerging economies such as India, China, and Japan in this region. Stringent regulations regarding the management of waste and deployment of technologically advanced solutions are propelling the expansion of waste to energy market in the Americas.
The prime players profiled by Market Research Future (MRFR) that are operating in the global waste to energy market are Waste Management, Inc, Constructions industrielles de la Méditerranée (CNIM), C&G Environmental Protection Holdings, Covanta Energy Corporation, Veolia Environment, China Everbright International Limited, and Suez Environment S.A.
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