It is estimated that the global waste to energy market will be progressing at a growth rate of 6.22% CAGR by the end of 2027
LONDON, Feb. 27, 2019 /PRNewswire/ -- KEY FINDINGS
The increasing industrialization, urbanization and the variety in lifestyle that accompany the process of economic growth, also gives rise to the generation of enormous quantities of wastes leading to increased threats to the environment.Therefore, waste-to-energy technologies are considered to be one of the most robust and effective alternative energy options to reduce CO2 emissions, replace fossil fuels, and further reduce the generated wastes in the current times.
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It is estimated that the global waste to energy market will be progressing at a growth rate of 6.22% CAGR by the end of 2027.
MARKET INSIGHTS
Approximately 2/3 of household waste is categorized as biomass.So, the biological waste-to-energy technologies are expected to penetrate the market more vigorously than other WTE technologies.
The advantage of WTE over other waste management strategies is its potential for the extraction of energy. The plant itself uses a major portion of this energy for its internal energy requirements; the remainder is supplied to the respective community.
The strong shift in the trend toward energy security around the world, the depletion of conventional energy resources and increasing municipal waste generation are some of the circumstances that are driving the market growth throughout the world.Even though it has various advantages, several factors are restraining market expansion.
For instance, opposition from local communities & environment groups & stringent environmental guidelines, are some of the major hurdles that need to be overcome by the market players.
REGIONAL INSIGHTS
The global waste to energy market is geographically segmented into North America, Asia Pacific, Europe and the remaining countries forming the Rest of World segment.The Asia-Pacific market has emerged as a major hub for WTE development that is expected to provide numerous growth opportunities to market players over the forecast period.
The emerging economies of China and India have been developing their renewable resources to minimize their carbon footprints.
COMPETITIVE INSIGHTS
Companies who produce energy by depending on the WTE technologies either collect waste from municipal sites or from waste suppliers who considered to be the most important part of the value chain in the WTE market. Some of the companies operating in the global waste-to-energy market are Martin GmbH, Sako Brno A.S., MHI Industrial Engineering & Services Private Ltd. (MIES), Ze-Gen Inc., BTA International GmbH, C&G Environmental Protection Holdings Limited, Wheelabrator Technologies Inc., China Everbright International Ltd., Plasco Conversion Technologies Inc., AMEC Foster Wheeler (acquire by Wood Group), Babcock & Wilcox Enterprises Inc., Suez Environment, Hitachi Zosen Innova AG, Veolia Environment S.A., Waste Management Inc., Ørsted, Covanta Energy, Austrian Energy & Environment Group, Keppel Seghers and Xcel Energy.
Companies mentioned
1. AMEC FOSTER WHEELER (ACQUIRE BY WOOD GROUP)
2. AUSTRIAN ENERGY & ENVIRONMENT GROUP
3. BABCOCK & WILCOX ENTERPRISES INC.
4. BTA INTERNATIONAL GMBH
5. C&G ENVIRONMENTAL PROTECTION HOLDINGS LIMITED
6. CHINA EVERBRIGHT INTERNATIONAL LTD.
7. COVANTA ENERGY
8. HITACHI ZOSEN INNOVA AG
9. KEPPEL SEGHERS
10. MARTIN GMBH
11. MHI INDUSTRIAL ENGINEERING & SERVICES PRIVATE LTD. (MIES)
12. ORSTED
13. PLASCO CONVERSION TECHNOLOGIES INC.
14. SAKO BRNO A.S.
15. SUEZ ENVIRONMENT
16. VEOLIA ENVIRONMENT S.A.
17. WASTE MANAGEMENT INC.
18. WHEELABRATOR TECHNOLOGIES INC.
19. XCEL ENERGY
20. ZE-GEN INC.
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