|February 09, 2017|
(WTE) Waste to Energy Market size over $33 Billion by 2023
|(WTE) Waste to Energy Market Size was 20.86 Billion in 2015, as per the latest research reports. Strong focus by regional government to adopt municipal solid waste (MSW) disposable techniques and treatments should drive global waste to energy market growth.|
Thermal based waste to energy technology occupied a significant chunk of revenue, which may surpass USD 29 Billion by 2023 with moderate gains. Incineration process based on thermal technology was widely employed across major WTE units.
Alternative thermal technologies, pyrolysis, gasification and plasma arc gasification, are relatively new process for WTE application and have limited installations globally. These alternative thermal technologies can contribute towards lowering carbon emissions but attract high initial investments costs.
Europe waste to energy market size, with major operating plants in Germany, France and UK, dominated the regional industry and occupied over 47% of the total revenue share in 2015. Modernization of WTE plants in order to replace ageing equipments may favor growth in Europe market.
Stringent standards by European government to curb GHG emissions from landfills may also favor waste to energy market size. Rise in power generation owing to rapid industrialization coupled with renewable energy targets set by regional government owing to curb GHG emissions may favor WTE market growth.
The Renewable Energy Directive (RED) from EU has set a binding target to use 20% of energy derived from renewable sources by 2020. The U.S. DOE recognizes WTE as renewable source of energy and includes for progress tracking towards achieving Federal Government goal to derive power from renewable sources.
China, India, Indonesia and Brazil are expected to generate significant amount of MSW over the forecast period. Government of these regions are considering investments to improve MSW collection and treating techniques and are funding projects based on Public Private Partnerships (PPP).
High capital investments for plant commissioning along with component installation may hinder waste to energy market size and restrict participation of new entrants. Lack of technology awareness to generate energy from waste may affect industry growth prospects.
Key insights from the report include:
Global Market Insights has segmented the waste to energy (WTE) industry on the basis of technology and region:
Waste to Energy (WTE) Market Technology Analysis (Revenue, USD Billion, 2012 - 2023)
Waste to Energy (WTE) Market Regional Analysis (Revenue, USD Billion, 2012 - 2023)