Waste To Energy Technology Market Outlook: Growth Factors Details, Trends, Comprehensive Research Including Top Companies
Market Overview
Waste to energy (WTE) is the waste treatment process of producing electrical or thermal energy from primary treatment
of wastes. Incineration, gasification, pyrolysis, fermentation, mechanical biological treatments (MBT) are few methods implemented to produce the energy. Landfill space in cities is at a premium and is surrounded by major population, henceforth by burning wastes, volume and weight reduced, resulting in production of electrical and thermal energy. Combustion reduces the volume of wastes by 90 % and weight by 75 %. The heat generated by burning the waste material can be used directly for heating, steam production or electricity generation.
WTE technologies can be applied to several category of wastes varying from liquid (e.g. domestic sewage) to semi-solid (e.g. thickened sludge from effluent treatment plants) and gaseous (e.g. refinery gases) waste. Moreover, the most known waste technologies application is processing the Municipal Solid Waste (MSW) used for incineration in a combined heat and power (CHP) plant.
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Industry Highlights
Increasing waste generation, growing concerns of environmental issues, high energy costs, and restricted landfilling capacities are few drivers anticipated to spur the market over the forecast period. WTE technology has been projected to resolve such concerns by reducing the waste volume and reducing the greenhouse gas emissions. Increasing population rates, rapid growing urbanization and economic growth are significantly changing the landscape of domestic solid waste, waste composition and treatment technologies in terms of power generation. According to World Bank report, the global MSW generation is around 1.3 billion tons per year on an average of 1.2 kg/capita/day, increasing the global demand.
Diminishing fossil fuel accompanied by the fluctuating crude oil prices is expected to spur the need for petroleum substitutes for power generation. Additionally, rigorous R&D activities towards technological advancement to use MSW for power generation by substituting fossil fuel is enduring, which in turn is estimated to pave massive technical feasibility and environmental benefits to catalyze the waste to energy market growth over the forecast period. Furthermore, technological advancements, legislative, social, and policy shifts, primarily by European governments, coupled with high initial cost involvement have substantially affected the technology growth.
As per World Energy Council, Biological WTE technologies has been estimated to experience faster growth of around 9.7% per annum, since few novel technologies such as anaerobic digestion are becoming commercially viable and have penetrated the market globally. Furthermore, rising demand to increase renewable energy production and reduction of Green House Gas (GHG) emissions, along with raising environmental consciousness, has been predicted to have a positive impact on WTE technology development.
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Major Industry Player’s
Prominent players operating in WTE technology market includes Abu Dhabi National Energy Company PJSC, Foster Wheeler A.G., Covanta Energy Corp., Babcock & Wilcox Enterprises, Inc., Constructions Industrielles de la Mediterranee., and Xcel Energy Inc.
Market Segments
The global WTE technology market has been segmented on the basis of technology, and power generation. Based on technology, the market has been segmented as biological and thermal. Thermal technology segment has been further segregated as incineration, pyrolysis, and gasification. Biological technology segment has been further classified as Mechanical biological treatment (MBT), Fermentation, and Anaerobic digestion. Based on power generation, the market has been bifurcated as electrical generation and thermal generation.
The thermal segment has been anticipated to account for major share of WTE technology industry owing to wide application in power generation through various waste such as Municipal solid waste (MSW), and Synthesis gas (syngas).
Thermal technology is considered comparatively simple process coupled with ease of operations. Incineration thermal technology is predicted to have a significant share over the forecast period. Health related issues pertaining to flue gasses emission via thermal WTE technology have been a major challenge for the industry. Biological technologies are estimated to witness significant growth owing to the potential of WTE technologies such as Anaerobic digestion, and fermentation, particularly in developing markets over the forecast period.
Europe WTE market has been estimated to lead the global industry owing to the stringent regulations for minimizing the industrial waste.
Germany, The Netherlands and Austria have adopted WTE technologies to utilize industrial waste. Furthermore, Asia Pacific region has been projected to gain largest market share after Europe over the forecast period. China and India sustains huge potential owing to escalating industrial and residential wastes. Increasing industrialization coupled with growing awareness for renewable energy generation is projected to spur the regional growth.
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