Global Waste To Energy Market is valued USD 28 billion in 2017 is anticipated to grow USD 41.7 billion with the compounded annual growth of 5.10% over the forecast period 2018-2025.
New York 29 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Waste To Energy Market industry is poised to raise USD 41.7 billion by 2025. Increasing domestic and industrial waste has prompted governments across various regions to promote energy generation from waste. Favorable government regulations in the form of tax benefits and financial incentives have had a positive influence on the growth. Growing environmental concerns for the use of non-renewable resources is expected to further complement the growth. The growth of recycling industry across various developed regions such as U.S., Germany, The Netherlands and Japan is expected to drive the WTE projects in the near future. Lack of awareness regarding WTE benefits particularly in developing economies of Central & North Africa is expected to inhibit the growth. Incineration is a major technology deployed across WTE plants. Biological technologies are expected to gain significant market share over the forecast period. Technological advancements in energy generation to improve the efficiency of yield from waste is expected to act favorably for industry players. Globally, the companies have adopted WTE techniques to reduce their waste produced and parallelly generate captive energy. Methane gas emission from landfills due to waste decomposition is a key concern for using landfilling as a mean of waste management. Increasing landfilling prices is anticipated to augment the growth.
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The industry is seeming to be fairly competitive. Some of the leading market Abu Dhabi National Energy Company PJSC, Waste Management Inc., Covanta Energy Corp, C&G Environmental Protection Holdings Ltd, Foster Wheeler A.G, Constructions Industrielles de la Mediterranee, China Everbright International Ltd., Veolia Environment S.A., Babcock & Wilcox Enterprises, Inc, Xcel Energy Inc and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Europe market led the global industry in 2017, The region is projected to grow at a CAGR of around 6% over the forecast period.
- Asia Pacific is projected to account for the second largest share of the market. China and India carry a huge potential for growth owing to increasing industrial and residential waste
Bizwit Research & Consulting LLP has considered following segments for the study:
- North America
- Asia Pacific
- Latin America
- Rest of the World