Increasing industrial waste coupled with growing importance for sustainable energy generation is expected to drive the global WTE market.
San Francisco, California (PRWEB) January 27, 2015
The global WTE market will reach USD 37.64 billion by 2020, according to a new study by Grand View Research, Inc. A shift in trends towards energy security around the world, coupled with a decreasing landfill area, will stay a key driving factor in the global WTE market. Government support in the form of tax benefits and government subsidies will have a positive influence on the market growth over the next six years. Competition from other established renewable energy sources like solar, wind and hydro, will be a key challenge for market participants. In addition, the high upfront costs associated with the establishment of WTE plants will hamper the market growth.
Browse full research report on Global Waste To Energy (WTE) Market at http://www.grandviewresearch.com/industry-analysis/waste-to-energy-technology-industry
Thermal WTE technologies emerged as the leading WTE technology and accounted for 88.2% of total market revenue in 2013. Operational ease and simple processes associated with thermal technologies are some major factors driving its market. Flue gases emitted through these technologies have been a major issue for the market growth. Technological advancements such as flue gas desulfurization will counter such challenges and propel growth for thermal WTE technologies. Biological technologies are expected to witness the highest growth rate over the forecast period. The segment will grow at an estimated CAGR of 9.7% from 2014 to 2020. Biological methods are environmentally friendly compared to thermal technologies which will help them penetrate the market.
Further key findings from the study suggest:
- The global WTE market was valued at USD 25,320.0 million in 2013 and is expected to reach USD 37,642.8 million, growing at a CAGR of 5.9% from 2014 to 2020.
- Europe was the largest regional market and accounted for 47.6% of total market revenue in 2013. Increasing industrial waste coupled with EU Waste Legislation have been major factors driving the regional market. The regional market is characterized by increasing WTE technology adoption by countries such as Germany, Austria and Netherlands.
- Asia-Pacific will register highest growth rate over the forecast period owing to increasing WTE technology penetration in Japan. The region will grow at an estimated CAGR of 7.5% from 2014 to 2020. Increasing industrial waste in China and India on account of growing industrialization rates coupled with government initiatives to promote sustainable energy generation will drive the regional market. Low cost technology development in China and India will pose challenge to established companies.
- Major companies in the market strive to improvise technological processes to reduce installation costs. Some of the major market participants in the global WTE market include C&G Environmental Protection Holdings Ltd., Foster Wheeler A.G., Veolia Environment, Suez Environment S.A., Waste Management Inc., KEPPEL SEGHERS and Babcock & Wilcox Co.
More insights about the Waste To Energy (WTE) Market at http://www.grandviewresearch.com/industry-analysis/waste-to-energy-technology-industry
For the purpose of this study, Grand View Research has segmented the waste to energy (WTE) market on the basis of technology and region:
Global Waste to Energy (WTE) Technology Outlook (Revenue, USD Million, 2012 - 2020)
Global Waste to Energy (WTE) Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North America
About Grand View Research
Grand View Research, Inc. Is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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