Global Waste to Energy Market sizemay register USD 33.46 billion by 2023; according to a new research report by Global Market Insights, Inc.
U.S. Waste to Energy (WTE) Market share, by technology, 2012-2023 (USD billon)
Measures adopted by regional governments for municipal solid waste (MSW) treatment and develop disposal techniques may trigger waste to energy market size growth.Increasing MSW in landfills should serve as abundant source of raw material to WTE operators.
Thermal process based waste to energy market size was dominant and may register over USD 27 billion revenue with moderate gains up to 2023.Thermal based incineration technology is the most commonly used platform for energy recovery and is currently more popular in Europe & Japan and currently picking up pace in China.
Alternative thermal technologies such as gasification, pyrolysis and plasma arc gasification already exist but are relatively new in applications for WTE market size. Currently, alternative thermal treatment facilities are limited with most of the plants operational in Japan.
Germany, France, UK, Italy and Sweden were primarily responsible for Europe waste to energy market dominance in 2015. Europe contributed over 47.5% of the global revenue in 2015.EU has formed a number of policies such as carbon tax, high landfill taxes & fees, renewable portfolio standards (RPS) and direct subsidies to reduce their dependency on fossil fuels.
Favorable regulations coupled with government schemes in the form of tax incentives are likely to propel waste to energy market size growth. Government policies can play a major role in forming incentive schemes for regional industry growth. The policy development with respect to solid waste management is centralized in Asia Pacific and Europe, whereas in the U.S., local governments are majorly responsible for solid waste management with central government playing a small role in legislation development.
Biological technologies typically consist of anaerobic digestion system and are deployed on commercial basis where regulatory authorities prohibit organic waste disposal in landfills. The U.S., Germany, Denmark and France have employed biological based anaerobic digestion systems for MSW processing with resulting biomass used for electric generation, process heating and automobile applications.
High commissioning and component installation cost may restrict WTE market size growth. Low awareness and lack of technical know-how in Africa and Latin America may also affect overall industry growth.
Key insights from the report include:
Global Market Insights has segmented thewaste to energy marketon the basis of technology and region:
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Written By : Dhananjay Punekar