|July 12, 2010|
Global Waste-to-Energy Market to Reach $28.8 Billion by 2015
|Waste-to-Energy (WtE) technology, a sustainable as well as cost-efficient solution for converting waste into energy, is emerging as a key component of integrated waste management strategies across the globe.|
WtE is now considered as a viable solution that helps in reducing greenhouse gas emissions as well as solving space issues created by landfills. Governments at all levels across the globe have called for increased use of renewable energy, including waste-to-energy, in order to develop homegrown energy sources, establish energy independence, reduce pressure on landfills, dispose non-recyclable wastes and reduce greenhouse gas emissions.
Waste management techniques such as WtE are especially gaining popularity in developed countries, which produce higher percentage of waste in comparison to developing nations.
Europe dominates the world Waste-to-Energy market, as stated by the new market research report on Waste-to-Energy. In an effort to reduce the use of landfills, the European Union is increasingly replacing the use of landfills by establishing WtE facilities.
Traditionally, WtE sector was dominated by the public sector, however, the market scenario is changing with private sector also making large scale investments in the WtE sector. Waste diversion targets set by the Landfill Directive, rising oil prices, and ever increasing demand for power are the major growth drivers for the European WtE market.
Asia-Pacific represents the fastest growing market for WtE. Countries in the Asia-Pacific region are increasing the adoption of WtE technology as a sustainable alternative to landfills for dealing with problems associated with energy creation and waste disposal.
WtE technology enables countries to earn carbon credits and conserve natural resources. Robust financial tools, capability development, better public awareness, privatization and stringent regulations are expected to help in the promotion of WtE technology in the region. Several Asian countries, including Taiwan and Japan, are leading users of WtE facilities.
The market for Waste-to-Energy is highly competitive with scores of players vying for the market pie. Key players profiled in the report include AE&E Group GmbH, Axpo Kompogas AG, Babcock & Wilcox Volund A/S, Bedminster International Ltd., BiogenGreenfinch, BTA International GmbH, Community Power Corporation, CNIM, Covanta Holding Corporation, EcoCorp Inc., Keppel Integrated Engineering Ltd., North American Power Group Ltd., Organic Waste Systems NV, STRABAG Umweltanlagen GmbH, Veolia Environmental Services, Waste Management Inc., and Wheelabrator Technologies Inc., among others.
The report titled "Waste-to-Energy: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product overview, technological overview, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in terms of revenues for regions including North America, Europe, Asia-Pacific, and Rest of World. Further, the global market is analyzed by the following technology types - Biological Waste-to-Energy and Thermal Waste-to-Energy.