Waste to Energy Market Expected to Reach $54,179 Million

By USDR

According to a new report published by Allied Market Research, the waste to energy (WtE) market was valued at $32,567 million in 2016, and is projected to reach at $54,179 million by 2023, growing at a CAGR of 7.6% from 2017 to 2023. The thermal technology segment accounted for nearly three-fourths share of the global market in 2016.

Waste to energy is one of the most effective and robust alternative source of energy, which helps in the reduction of CO2emissions and thus replace fossil fuels. Using waste as a combustion substance is expected to reduce landfill volumes by more than 90%. For every ton of waste burned, one ton of CO2 emission is reduced, which further helps in eliminating methane, which could be leaked with landfill disposal.

Get the PDF brochure of this market insight:  https://www.alliedmarketresearch.com/request-sample/2195

Growth in population and rise in landfill levels present numerous opportunities for market expansion. Moreover, surge in demand for renewable sources of energy globally, increase in investment by governments, and usage of other renewable energy sources as substitutes to reduce carbon content are further anticipated to boost the overall growth of the market. However, high costs associated with plant installation and infrastructure of expensive components are expected to hamper the overall industry growth.

WtE market is expected to register the highest growth in biological process, owing to increase in technological advancements and rise in disposable incomes. Furthermore, rapid urbanization and upsurge in renewable energy sources are expected to boost the market growth.

The incineration segment accounted for around half of the thermal technology segment in 2016, owing to the perennial modifications in the industry and efficient techniques & process, which are in high demand globally. Thus, increase in requirement of high-tech waste to energy conversion methods fuel the market growth globally.

According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, “The demand for renewable sources of energy is increasing, owing to less prevalence of environmental hazards and efficient outputsThus, increase in demand for efficient and costeffective power generation techniques globally poses lucrative opportunities for players in the global waste to energy market.

KEY FINDINGS OF THE STUDY 

  • The incineration segment is anticipated to grow at the highest CAGR during the analysis period and occupied around half of the total thermal technology market in 2016.
  • Asia-Pacific is projected to maintain its lead position from 2017 to 2023, growing at a CAGR of 6.3%, in terms of volume.
  • Japan occupied around one-third share of the Asia-Pacific market in 2016.
  • In terms of value, Spain is expected to grow at a significant CAGR of 8.4% from  2017-2023.

In 2016, Asia-Pacific and LAMEA collectively accounted for nearly two-fifths share of the global market, in terms of volume, and are expected to continue this trend, owing to increase in urbanization, specifically in ChinaIndiaBrazil, and the other developing countries. Moreover, rise in urban population with increased per capita disposable income and growth in overall consumer spending drive the growth of the Asia-Pacific market.

The major companies profiled in the report include Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises, Inc., and Veolia Environment.
Get PDF Brochure of Waste to Energy Market  Report

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

SOURCE Allied Market Research

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.
Show Buttons
Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkdin
Share On Pinterest
Share On Reddit
Share On Stumbleupon
Contact us
Hide Buttons
Rimons twitter widget by Rimon Habib