Waste to Energy (WTE) Market Size by Technology (Biological, Thermal [Incineration, Pyrolysis & Gasification), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024
Published Date: Aug 2016 | Report ID: GMI456 | Authors: Ankit Gupta, Aditya Singh Bais
WTE Market Outlook
Waste to Energy Market size is anticipated to grow at a CAGR of over 7% by 2024, from $20 billion in 2015. Growing demand for constant and reliable power supply in line with efficient resource utilization, rising penetration of captive power projects coupled with increasing techno financial assistance by regulatory arms will drive the growth of the global market.
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According to this analysis, rapid surge in residential & commercial waste volume on account of growing urbanization will drive the investments in the global waste to energy market report. As per IEA, annual MSW production from 2010 to 2015 by India, China, Pakistan, Viet Nam, and Thailand had expanded from 60 Mt, to over 300 Mt; out which China holds the major penetration. Growing Public Private Partnerships across developing countries along with rising regulatory efforts to promote the usage of global market renewable technologies will further expand the industry outlook. In addition, increasing regulatory reforms to limit carbon emissions along with rising public health concerns owing to improper garbage disposal will complement the industry dynamics over the forecast period.
Growing electricity usage on account surging global population have raise the penetration of various power generation systems including WTE. As per the United Nations, the global population is anticipated to expand over 8.5 billion by 2030 and 9.8 billion by 2050. Increasing focus towards development clean power generation systems to meet environmental obligations will further propel the waste to energy industry over the forecast period. In 2018, as per IEA the penetration of clean energy in catering global waste to energy market demand is anticipated to expand by one-fifth by 2023.
Rising environmental concerns due to growing penetration of conventional power generation systems will expand the waste to energy market share over the forecast period. Policy makers across the globe are introducing numerous incentive and tax benefit measures to endorse the usage of sustainable power generation sources. Government of UK under their Renewable Energy Directive, 2009 has developed various incentive mechanism including Renewables Obligation, Renewable Heat Incentive, Renewable Transport Fuel Obligation and Small-Scale Feed-in Tariff (FiT). These directives over the years has significantly developed the industry landscape across the nation. Rising technical and financial assistance by government bodies in line with growing awareness towards sustainable waste to energy management practices will strengthen business outlook. Furthermore, increasing demand of continuous power supply for various industrial operation will proliferate the waste to energy industry over the forecast period.
|Base Year:||2015||Market Size in 2015:||20.5 Billion (USD)|
|Historical Data for:||2013 to 2015||Forecast Period:||2016 to 2024|
|Forecast Period 2016 to 2024 CAGR:||7%||2024 Value Projection:||35 Billion (USD)|
|Pages:||144||Tables, Charts & Figures:||147|
|Geographies covered (18):||U.S., Canada, UK, Germany, France, Italy, Sweden, China, India, Japan, South Korea, Australia, Thailand, Indonesia, Malaysia, Philippines, Argentina, Brazil, Chile, Kenya, Nigeria, South Africa, Qatar|
|Segments covered:||Technology and Region|
|Companies covered (25):||C&G Environmental Protection Holdings Ltd., China Everbright International Ltd, Operating Projects, Covanta Ltd., Foster Wheeler AG, (Amec Foster Wheeler), Green Conversion Systems LLC, Hitachi Zosen Inova AG, (Hitachi Zosen Corp), Jansen Combustion & Boiler Technologies, Keppel Seghers, Plasco Energy Group Inc., Suez Environnement Company SA, Velocys, Veolia Environment SA, (Energy), Wheelabrator Technologies Inc., Xcel Energy Inc.|
|Pitfalls & Challenges:||
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Market by Technology
Thermal waste to energy segment lead by incineration, pyrolysis and gasification tends to witness significant acceleration of over 6% by 2024. Ability to effectively reduce the harmful GHG emission with high efficiency index will drive the waste to energy market demand over the forecast period. In 2018, Acciona, S.A. announced the development of Australia’s first large scale WTE plant in Kwinana Industrial Area. The USD 700 million project has capability to harness 36 MW electricity by processing 400,000 tons of waste every year. Stringent government measures pertaining to MSW management from various residential and commercial establishments will positively influence the business dynamics.
Positive regulatory efforts in line with consistent improvement across anaerobic digestion technology will boost biological waste to energy market over the forecast period. Organic approaches often use contaminated and toxic waste to produce energy via anaerobic digestion of solid waste and wastewater or bio-hydrogen production through industrial wastewater. Over the forecast period, anaerobic digestion is anticipated to substitute composting of biodegradable trash generated from MSW.
Market by Region
North America is anticipated to witness considerable upsurge owing to increasing awareness among consumers pertaining to climate change. In addition, stringent government efforts toward optimal utilization and integration of sustainable power generation sources will further fuel the waste to energy market growth. In 2019, government of Montreal, Canada announced to establish a biomethane plant with an investment of USD 167 million. Once completed, plant will be able to provide electricity to 3,600 homes by processing 60,000 tons of organic waste annually.
Positive regulatory framework toward sustainable urban infrastructure development will upsurge the UK industry size by 2024. Favorable policies including direct subsidies, landfill taxes & fees, and carbon tax, will further drive the waste to energy (WTE) market trends. In addition, rising adoption of advanced technologies including IT solution, RFID technologies, and solid waste processing hardware will further complement the industry dynamics over the forecast timeline. As per the Renewable Energy Association in 2016, more than 50 WTE projects are in the planning stages in the UK which tends to witness significant increment over the coming years. In 2018, North Beck Energy Ltd had secured development approval for a USD 269 million WTE facility which is expected to harness almost 50 MW of power across Immingham.
Asia Pacific region is anticipated to expand over 7.5% by 2024. Rising funding for solid waste management through government, international financial institutions will stimulate the waste to energy market share. Surging installation of utility scale projects along with increasing regulatory assistance for effective disposal and utilization of waste will further strengthen the business dynamics. For instance, in 2019 Schmidt Hammer Lassen and Gottlieb Paludan announced that the world largest waste to energy plant across Shenzhen, China with processing capability of 5000 tons/day will be operational by 2020.
Competitive Market Share
Global players across waste to energy (WTE) market analysis comprise of Hitachi Zosen, Wheelabrator, Keppel Seghers, Covanta, and Tenologies, Foster Wheeler, Mitsubishi Heavy Industries, Xcel Energy, Veolia Environment, China Everbright International, Plasco Energy, and Green Conversion Systems among others.
Rising research and development (R&D) activities toward efficiency enhancement along with industry efforts to reduce cost associate to the technology are few indispensable strategies adopted by key industry players.
Waste-to-energy is the process to generate electricity through the processing of organic and inorganic waste. Positive regulatory reforms toward effective management of trash along with stringent government targets to integrate renewable energy resources will drive the industry dynamics in the coming years.
Global Market Insights has segmented the waste to energy market based on technology and region:
- Pyrolysis and Gasification
- North America
- Asia Pacific
- South Korea
- South Africa
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