Waste to Energy Market: Increase in demand for renewable sources of energy & Rise in demand for electricity consumption
The global waste to energy (WtE) market was valued at $17,271.4 million in 2017, and is projected to reach $27,700.8 million by 2025, growing at a CAGR of 6.1% from 2018 to 2025. The thermal technology segment accounted for a major share of the global waste to energy market in 2017.
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Growth in population and rise in landfill levels are projected to present numerous opportunities for the expansion of the market. Surge in demand for renewable sources of energy globally, increase in investment by governments to enhance energy production, and usage of other renewable energy sources as substitutes to reduce the carbon content is further projected to boost the overall growth of the global waste to energy market. However, high costs associated with plant installation and infrastructure of expensive components are expected to hamper the overall market growth.
Key Benefits for Waste to Energy Market:
• This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities along with strategic assessment of the global waste to energy market
• The market size and estimations are based on a comprehensive analysis of the key developments in the market
• An in-depth analysis based on region helps understand the regional market and facilitate the strategic business planning
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
On the contrary, the global WtE market is expected to register the highest growth in the biological process segment, owing to increase in technological advancements and rise in disposable incomes. Furthermore, rapid urbanization and surge in the production of various renewable energy sources such as solar, wind, biomass, hydro, and others are expected to boost the market growth.
The incineration segment accounted for around half of the thermal technology segment in 2017, owing to the perennial modifications in the market and efficient techniques & processes, which are in high demand across the globe. Thus, increase in requirement of high-tech waste to energy conversion methods fuels the market growth globally.
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The key players operating in the global waste to energy market include Suez Environment S.A., Waste Management Inc., Constructions industrielles de la Mditerrane (CNIM), C&G Environmental Protection Holdings, Covanta Energy Corporation, China Everbright International Limited, Abu Dhabi National Energy Company PJSC, Foster Wheeler A.G., Veolia Environment, and Babcock & Wilcox Enterprises, Inc. Other players in this market include EcoCorp, Ener-G Plc, and Highmark Renewable.
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