Market Scenario
Waste to Energy
market has been witnessing positive trends in recent times. Abundance of waste
and strict government regulation regarding waste disposal are some of the key
factors that are expected to drive the demand in the Waste to Energy market.
Increasing government penalties on poorly managed waste in the form of
landfills is diverting demand towards the Waste to Energy Market. Rising environmental
concerns among individuals is one of the key factors driving the market for
waste to energy.
Development of
sustainable energy combined with favorable government initiatives, are expected
to propel the demand in the waste to energy market. Cogeneration technologies,
advanced energy consumption and clean coal are being favored by governments
across the globe. High installation and maintenance cost are major factors that
can act as market restraints. Rising energy & electricity prices are expected
to further boost the demand in the waste to energy market.
Key Players:
The key players of
global waste to energy market are ABB Ltd. (Switzerland), Amec Foster Wheeler
(U.K.), Ormat Technologies Inc. (U.S.), General Electric Co. (U.S.), Mitsubishi
Heavy Industries Ltd. (Japan), Echogen Power Systems Inc. (U.S.), Econotherm Ltd.
(U.K.), Thermax Limited (India), Siemens AG (Germany), and Cool Energy Inc.
(Colorado). In 2016, these companies accounted for a share of XX% of the global
market.
Segmentation
The global market
for waste to energy is segmented on the basis of technology and method. By
technology, the global waste to energy market is segmented into biological and
thermal. The thermal technology segment is forecasted to command the major
share of the global waste to energy market. On the basis of method, the global
waste to energy market is segmented into incineration, anaerobic digestion,
gasification, pyrolysis, and fermentation.
Regional Outlook
Europe is expected
to be another leading region in the global waste to energy market. Increased
waste production along with regulatory compliance to minimize environmental
impact are key factors driving Europe waste to energy market growth. Owing to increased pressure from
environmental and government organizations stringent government regulations
have been put in place to discourage major industries to dispose of untreated waste in
the form of landfills. The region has come up with various directives
including Waste Framework and Landfill, which may help in setting waste
recycling targets through incineration techniques and landfills. Germany, U.K.,
and France are major contributors in this market due to the already established
waste to energy infrastructure in these countries.
North America is a major region in the global
waste to energy market. Existence of major manufacturers and availability of
sophisticated technology in this region, are propelling the demand in this
region. Rapid technological development in this field is expected to further
provide scope for the market to grow in this saturated market.
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