Global waste-to-energy market to reach $29bn
Increasing focus to reduce landfilling of waste
A growing volume of municipal solid waste, an increasing need to generate energy and stricter legislations are together driving the waste to energy (WTE) plant market globally. Revenues - that at the end of 2012 accounted for US$19bn - are expected to reach US$29bn by 2016, according to a latest study by Frost & Sullivan
Currently, the installation of new waste to energy plants are witnessing strong interest in regions with the highest population density and limited area, such as Western Europe, the Middle East and also South Asia. At the same time, regions with developed economies and an existing installed base of waste to energy plants are expected to create vast modernization opportunities by 2016.
“Landfilling of waste is no longer the economically sound process that it used to be a few years ago. Gate fees
have risen considerably, leading market participants to explore competitive solutions," explains Frost & Sullivan
Research Analyst. "Waste to Energy plants provide a waste treatment solutions which shift from limited recycling value to recycling with energy recovery. Successful operation of WTE plant relies on internal WTE plant economies, understanding of local conditions and also on an innovative business model."
“The WTE market’s future prospects highlight the need for increased collaboration among stakeholders to complement each other’s expertise and knowledge base in tapping future growth opportunities,” added the Research Analyst.