The global waste to energy (WTE) market is expected to reach USD 43.96 billion by 2024, according to a new report by Grand View Research, Inc. Stringent waste management regulations particularly in Europe and in the U.S. coupled with the rise in concern to improve the waste management systems is expected to remain a key driving factor for global waste to energy market. The shift in focus towards energy generation through alternative routes is also expected to shape the industry structure.
Emerging economies such as India and China has been witnessing a sharp increase in energy demand on account of rapid industrialization and urbanization which has prompted energy producers to look for alternative energy sources. Since these countries generate a lot of industrial waste, they have become high potential markets for WTE technologies and are expected to provide ample opportunities to companies involved.
Companies such as China Everbright International Ltd. and Babcock & Wilcox Enterprises, Inc.have adopted acquisition strategies to enhance their waste management services. Most of the companies have tie-ups with local municipal solid waste providers for the distribution of waste sources.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/waste-to-energy-technology-industry
Further key findings from the report suggest:
- Thermal segment dominated the waste to energy technology in 2015 and accounted for over 80% of the total market revenue
- Processing of non-recyclable materials to produce electricity, heat, and fuel on account of less environmental impact is expected to boost the thermal technology market
- Thermal technologies including incineration, gasification, and pyrolysis are expected to lower the carbon emissions which in turn would lead to increase in the implementation of these WTE technology
- Biological segment is expected to grow at a significant rate of 9.4% over the forecast period
- Rising investment in waste to energy plant facilities, development and R&D of technologies is expected to propel the market over the coming years
- Major companies identified in the WTE market include Waste Management Inc., Covanta Energy Corporation, C&G Environmental Protection Holdings Ltd., and China Everbright International Ltd. among others.
Read our blog on waste to energy market – http://www.grandviewresearch.com/blog/waste-to-energy-the-new-renewable-source-of-energy
Grand View Research has segmented the waste to energy (WTE) market on the basis of technology and region:
Global WTE Market Technology Outlook (Revenue, USD Million, 2014 – 2024)
Global WTE Market Regional Outlook (Revenue, USD Million, 2014 – 2024)
- North America
- Asia Pacific
- Central& South America (CSA)
- Middle East & Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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