Land Incineration Plants Market Analysis and Forecast Study for 2015-2023

Global Land Incineration Plants Market: Snapshot

The rapidly rising urban population and large-scale industrialization are leading to increasing municipal solid waste worldwide. The traditional practice of dumping the waste in landfills is leading not only to the wastage of large areas of land but also to numerous environmental issues. This is prompting municipal bodies of several countries to replace their traditional methods with land incineration, which is capable of reducing the level of environmental pollution drastically. Therefore, the increasing environmental concerns are driving the global land incineration plants market.

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According to a report by Transparency Market Research (TMR), the global market for land incineration plants market is projected to expand at a CAGR of 5.5% between 2015 and 2023, reaching a valuation of US$68.71 bn by the end of 2023.

Government Measures Play Vital Role in Growth of Market

Land incineration plants are being acknowledged worldwide for their ability to reduce the volume of municipal solid waste by nearly 90% and mass by 80%, depending upon the waste composition and the degree of material recovery post incineration. Governments and local bodies of various countries worldwide are encouraging the development of these plants by introducing several funding schemes such as prudential borrowing, credits for waste infrastructure (WI), and capital grants.

While the demand for land incineration systems in developing countries is increasing due to rapid urbanization and industrialization, the market in developed regions is gaining traction due to strict measures by governments towards landfills. To put this in perspective, countries such as the U.K. and New Zealand have higher landfill taxes than several other countries.

However, conventional land incineration plants are attracting opposition from the mass in the form of protests, primarily due to flue gas emission. This is acting as a major impediment to the growth of the global market. Nevertheless, the growing research and development activities are paving way for sustainable and advanced technologies that can be implemented across modern incineration plants. These technologies are likely to shape the future of the market.

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Moreover, the surging construction activities across the world are translating into the greater uptake of cement. Bottom ash, which is a by-product of land incineration plants, has a strong demand in cement manufacturing. This is, thereby, unfolding tremendous growth opportunities for the global market.

On the basis of capacity, the global land incineration plants market is fragmented into large and small and medium. The demand for large capacity plants is estimated to remain high throughout the review period. The increasing amount of waste produced is stirring up their demand.

The key segments analyzed in the report based on geography are Asia Pacific, North America, Europe, and Rest of the World. Europe will be the frontrunner in the global arena throughout the forecast period. Stringent government regulations pertaining to landfills are primarily attributable to the growth of the region. Moreover, the rising environmental concerns among the populace are compelling governments to take strict steps against the traditional practices of waste disposal.

The Rest of the World segment is anticipated to post a significant CAGR during the same period, owing to evolving anti-dumping and anti-landfill regulations. The growth of Asia Pacific is largely supplemented by large-scale commercialization and soaring energy demand in emerging countries such as the U.K and China. Some of the prominent companies operating in the global land incineration plants market are Hitachi Zosen Inova AG, Babcock & Wilcox Enterprises Inc., Doosan Lentjes GmbH, Kawasaki Heavy Industries Ltd., Suez Environment Company, Martin GmbH für Umwelt-und Energietechnik, and Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd. (MHIEC).

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This release was published on openPR.