NEW YORK, Aug. 27, 2018 (GLOBE NEWSWIRE) -- The waste to energy market is expected to witness a CAGR of 5.8%, and is projected to reach USD 42,979 million by 2023. Factors propelling the growth of waste to energy market are increasing waste generation, high energy demand, restricted land filling capacity and growing environment concern related to waste disposal.
The report segments Waste to Energy market by Technology (Thermal (Combustion, Gasification, Pyrolysis, Others), Bio-chemical (Anaerobic digestion, Fermentation, Landfill gas, Others)), by Waste Type (Municipal solid waste(Industrial, Residential, others), Agriculture, others), by End Use ( Heat, Electricity, others), by Region (North America, Europe, Asia-Pacific, Middle East and Africa, Rest of the World (RoW)). The report studies the global waste to energy market over the forecast period (2017-2023).
Waste is an undesired product of the society. With the increasing population waste disposal entails environment concerns that need to be acknowledged immediately. However, the increasing waste generated has made waste to energy sustainable. Waste to energy involves processes that transform waste to usable form of energy mainly heat and electricity. Energy recovered from waste solves the problem of energy security as well as treatment of non-reusable and non-degradable waste. Waste to energy is an environmentally friendly technology that helps to reduce the carbon footprint.
Key findings of the Global Waste to Energy Market Report
- The global waste to energy market is valued at 28,964 million in 2016 and is expected to reach USD 42,979 million by 2023
- The thermal energy conversion technology of waste to energy dominates the market and accounted for 84% market share in 2016
- Bio-chemical waste to energy is expected to grow at a 10% CAGR during the forecast period. The new bio-chemical technologies are becoming commercial viable
- The municipal solid waste segment dominates the waste to energy market and is expected to maintain its dominance during the forecast period
- Geographically, Europe is the largest waste to energy market. The market is lead by the development of sophisticated waste to energy technology
- Asia-Pacific is the fastest growing waste to energy market with China and Japan dominating the region. India has harnessed around 114 MW from waste to energy till august 2017
- Indian government to invest 15,000 crore (USD 3 billion approx.) over next few years under Swatch Bharat Mission in waste to energy projects
- Countries are analyzing up their waste to energy power generation capacity. Algeria to generate 1 GW of power from waste to energy by 2030
- Government of Ethiopia and consortium of companies including Cambridge industry limited, China National Electric Engineering and Ramboll are developing Reppie waste to energy plant. It will be first waste to energy plant in the African country and is expected to commission by 2018
- The key players dealing in waste to energy market are C & G Environmental Protection Holding Ltd., Bioenergy Infrastructure Group, Abu Dhabi National Energy Company PJSC, Foster Wheeler AG, Babcock & Wilcox Inc., Xcel Energy Inc., Covanta Energy Corporation, Mapal Green Energy Ltd, Shenzhen Energy and Keppel Seghers.
Investor Corner
Waste to energy market offers abundant opportunity for the investors to generate business from waste to energy plants. On the supply side the investor is relieved of waste collection and segregation as there is proper infrastructure in place for the collection as well as segregation of waste. Whereas, on the demand side the investor is relieved of the sale and price of energy per unit as most of the nations are framing market friendly policies such as government of India has made it mandatory for power distributers to buy all the electricity generated from waste to energy plant. Further, waste to energy plants are highly incentivized which makes it possible for the startups and local investors to enter the market. Additionally, the huge potential of waste to energy market has led companies to expand rapidly in past few years. For instance Bioenergy Infrastructure Group has purchased 20 wastes to energy facilities from U.K. Green Investment Bank.
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Regional Insight
Europe is the largest waste to energy market. The technological turnaround in the waste to energy is driving the growth in the region. With technologies such as biological digestion being commercially viable the waste to energy market is ready to process new waste. France dominates the European region with the highest number of waste to energy plants operating followed by Germany and Italy.
Asia-pacific is the potential waste to energy market with Japan taking the lead in converting the waste to useful energy. China and India are fast capitalizing on waste to energy projects. The growth in these countries is due to increasing waste generation and degrading environment conditions as a result of waste disposed off in landfills.
Waste to energy market is at a nascent stage in Africa. Ethiopian Reppie is the first waste to energy project in the region which will commence operation by 2018. This project will mark the beginning of waste to energy market projects in the African countries.
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