Waste to Energy Plant Market Analysis
The global Waste
to Energy Plant Market is projected to register an impressive CAGR
percentage over the forecast period between 2016 and 2023 as stated by Market
Research Future (MRFR).
It is reported that the heightened consumption of
energy and the complexities that surround waste management due to the piling up
waste generation across the globe is generating the need for advanced forms of
technology that can be then used to convert waste into a form of consumable
energy with ease. Owing to the presence of a massive population base across
both developed and developing nations is accelerating the waste generation rate
in a consistent manner. This is prompting countries to take notice and develop
various new methods and techniques of waste management, one that can be
converted subsequently into consumable energy.
One of the major waste management solutions supporting
the generation of consumable energy is the recycling activities of waste
products to be then utilized for several domestic as well as industrial
purposes. The fast-paced exhaustion of non-renewable energy sources is pushing
the demand for various advanced technologies that can leverage energy from alternative
sources like waste. The growing demand for energy due to the ongoing energy
crises around the world caused due to the extraordinary consumption of energy and
the management of large waste materials is pushing the growth of the global
market. Also, the integration of advanced form of technology in recycling
machineries and the growing R&D activities for the development of new and
cost-effective waste to energy conversion techniques is also a key driver of
the global market in the coming years.
However, amidst all these, the lack of skilled
professionals for both operating and maintain waste to energy plants can be a
major hindrance to the growth of the market in the forthcoming years of the forecast
period.
Waste to Energy Plant Market Segmentation
The global waste to energy plant market segmentation
is done in terms of two component method and technology.
By technology, the market divides into thermal and
biological segments. Among these, the thermal segment is primed to be the
commanding technology and lead the global market with the highest share.
By method, the market includes pyrolysis, incineration,
fermentation, gasification, anaerobic digestion, and pyrolysis.
Regional
Analysis
The global waste to energy plant market is
geographically distributed among the following key regions: North America,
Europe, South America, the Middle East & Africa, and Asia Pacific.
The Asia Pacific regional market holds the commanding
position in the global landscape with a dominant share percentage to its name.
The region is further expected to showcase considerable growth in the waste to
energy market due to the fast-paced generation of waste in Asia Pacific. The
increasing generation of waste materials and subsequently its conversion into
energy is due to the expanding population base, increasing consumption of
energy, and the prevalent awareness concerning the environment in emerging
nations like China, India, and Japan.
The Americas, comprising both North and South America,
is another key region in the waste to energy global market. The region holds a
key spot in the global standings and is expected to continue its hold due to
the expansion of the market herein. The strict rules and regulations imposed by
the government in regard to waste management and the deployment of various
technologically advanced solutions are factors driving the regional market of
North America.
Competitive
Landscape
The global waste to energy market holds names such as Covanta
Energy Corporation, Constructions industrielles de la Méditerranée (CNIM), Waste
Management, Inc, C&G Environmental Protection Holdings, China Everbright
International Limited, Veolia Environment, and Suez Environment S.A that are
operating with utmost efficiency and putting in continuous efforts in pushing
the growth of the market.
May 19th, 2019, a
financial conclusion was reached for a UAE-based waste to energy plant that
will be used to convert waste into fuel for use. The project will be taken
forward by Emirates RDF and the facility will begin this month in Umm Al
Quwain.
No comments:
Post a Comment