Shift in trend toward use of renewable energy resources is expected
to be the major factor driving the global waste to energy (WTE) market
over the forecast period. Waste generated from residential and
commercial uses are consumed to produce electricity. Increasing
industrial and domestic waste has encouraged government to promote
energy generated from waste. This trend is expected to drive the global
WTE market over the next six years.
Favorable government regulation coupled with subsidies and tax
benefits are expected to be the major factor driving the market over the
next six years. Increasing environmental apprehension over
non-renewable energy usage is anticipated to have positive impact on
global WTE market over the foreseeable period. Decreasing landfills area
is likely to create an opportunity for the market players in the
future. Growing recycling industry in developed nations including
Germany, U.S., Japan, and Netherland is expected to complement the
market growth over the foreseeable period.
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Waste putrefaction during landfilling produces methane gas. This
factor is likely to propel the global WTE market over the next six
years. Shift in focus toward reducing carbon footprints is further
expected to enhance market growth over the next six years. Already
established renewable energy sources such as wind, solar, and hydro is
likely to remain the key challenge for the new entrants as well as
existing market participants. In addition, high set-up cost compared to
landfilling technique is expected to hinder the market growth in near
future. However, increasing research & development to reduce the
installation cost of WTE plant is expected to be major factor driving
the market over the foreseeable period.
Technological advancement to improve energy efficiency is further
likely to compel the market growth. Thermal and biological techniques
are used to generate electricity from waste. Ease of operation coupled
with simple process to operate thermal WTE plant is a major factor
expected to drive the WTE market. Flue gases emitted from WTE thermal
plant has been the major factor hampering the market growth over the
past few years. However, flue gas desulfurization technique is expected
to offset this problem. Biological technique is expected to experience a
considerable growth over the foreseeable period on account of potential
market in developing nations.
Europe is the leading regional WTE market in 2013, and is expected to
grow over the forecast period. Increasing commercial and domestic waste
coupled with waste legislation is expected to be the major factor
driving the WTE market in this region. Increasing waste to energy
technique adoption by nations including Austria, Germany, and Netherland
is expected to create an ample opportunity for the market participants
in this region.
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Asia Pacific WTE market is expected to witness rapid growth over the
forecast period on account of increasing waste to energy technique in
Japan. Increasing commercial and domestic waste in China and India owing
to growing population is likely to compel the WTE market in this
region. High industrialization growth in developing nations such as
India, china, Brazil and Thailand is expected to drive the market in
this region. Lack of awareness among consumers regarding WTE in
developing economies of North & central Africa is expected to hinder
the market growth in this region.
Global WTE market is competitive in nature due to presence of major
player in the market. Increasing awareness among consumers regarding WTE
coupled with government support is likely to create an opportunity for
the new entrants as well as existing player in the market. Some key
players have their dominance in the market include Veolia Environment,
Suez Environment S.A., The Babcock and Wilcox Co., Foster Wheeler, Waste
Management Inc., and KEPPEL SEGHERS.
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