Global Waste to Energy Market To Reach USD 36.0 Billion By 2020
Deerfield Beach, FL -- (SBWIRE) -- 10/16/2017 -- According to the report, the global waste to energy market was valued at approximately USD 24.0 billion in 2014 and is expected to reach approximately USD 36.0 billion by 2020, growing at a CAGR of around over 7.5% between 2015 and 2020. Zion Market Research has published a new report titled "Waste to Energy (Thermal and Biological Technology) Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020"
Waste to energy facilities offer a safe, technologically advanced means of waste disposal, which convert waste matter into various forms of fuel clean, renewable energy and reducing greenhouse gas emissions. Waste feedstocks can include municipal solid waste (MSW), construction and demolition (C&D), agricultural waste (crop silage and livestock manure), industrial waste and even the gases that are naturally produced within landfills. Biological and thermal are two key technologies used to recover energy from waste. These technologies convert waste matter into various forms of fuel that can be used to supply energy.
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The major driving factor for the global waste to energy market is rapidly growing energy demand coupled with a shift in trends towards developing renewable energy. Advancements in technology in order to improve the efficiency of energy recovered from waste matter is expected to open opportunities for the waste to energy market over the forecast period. One of the major problems associated with renewable energy is lack of awareness regarding waste to energy benefits especially in developing economies. Another major restraining factor for renewable energy includes the fact that it generates electricity at relatively higher tariffs.
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The waste to energy market is segmented on the basis of technology such as thermal and biological. The thermal technology was the largest segment market for waste to energy in 2014. This growth can be attributed to the widely used form of energy generation through waste matters. Biological is also one of the important technology segments in the global waste to the energy market and is expected to exhibit robust growth in the years to come.
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Europe was the leading regional market waste to energy market accounted for around 45.0% share in total revenue generated in 2014. Europe was followed by Asia Pacific with a second largest market share in global waste to energy market in 2014. Japan and China have remained major growth driver for waste to energy market in the region. Latin America and Middle East & Africa are also expected to experience significant growth of waste to energy market in the years to come.
Some of the key players in Waste to energy market Foster Wheeler A.G., C&G Environmental Protection Holdings Ltd., Veolia Environment, Suez Environment S.A., KEPPEL SEGHERS, Babcock & Wilcox Co., Xcel Energy, Covanta Energy Corporation, Constructions industrielles de la Méditerranée (CNIM), China Everbright, International Limited and Waste Management Inc.