Waste To Energy Market to Witness a Pronounce Growth During 2024
Posted: Feb 21, 2019
Transparency Market Research has published a new research report about the global waste to energy market. The research report, titled "Waste to Energy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019," provides a comprehensive outlook of the overall market. According to the document, the global waste to energy market was valued at US$18.4 bn in 2012 and is expected to reach US$31.8 bn by 2019. In a span of six years, between 2013 and 2019, the global waste to energy market is expected to surge at a pace of 8.1% CAGR.
Waste to energy refers to methods used for converting solid waste or municipal waste in forms of energy. The waste generated from commercial, industrial, and domestic users is transformed into energy in the form of steam, electricity, and fuel cell. The global waste to energy market has been witnessing a positive growth rate due to the increasing pressure on the governments to reduce the volume to waste in order to control emissions from landfills.
The global waste to energy market has been segmented on the basis of technology and geography. The technologies used in this market are biological and thermal. Geographically, this market is segmented into Asia Pacific, Europe, North America, and Rest of the World.
Currently, the thermal technology sector holds a dominant position in the overall waste to energy market. As of 2012, this segment held a significant share of about 80% in the global market. The demand for thermal technology is being driven by a growing number of taxes on poorly managed landfills and municipal solid waste. Thermal technology is aimed towards reducing the amount of waste, thereby solving the issue of waste accumulation for several municipalities. Analysts also predict that the biological technology segment is also expected to grow at a rapid pace in the coming years.
Currently, Asia Pacific has a firm grip on the global waste to energy market with a share of more than 40% of the overall revenue. This regional waste to energy market is anticipated to grow at speedy rate due to improving economic development and rising disposable incomes. The Asia Pacific waste to energy market is being driven by India, China, and Japan. Presently, Japan has well-established waste management solutions. On the other hand, the vast potential of India and China to product excessive amounts of waste is also expected to fuel this market in the near future.
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Some of the important players operating in the global waste to energy market are Veolia Environnement, China Everbright International Limited, Covanta Energy Corporation, C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée (CNIM), Waste Management, Inc., and Suez Environment S.A.
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