PORTLAND, Oregon, October 16, 2018 /PRNewswire/ --
Rise in demand for renewable energy sources, rapid urbanization, and increase in electricity consumption worldwide would facilitate the growth of the global waste to energy market
Allied Market Research published a report, titled, Waste to Energy Market, by Technology [Thermal (Incineration, Pyrolysis, and Gasification), Biological]: Global Opportunity Analysis and Industry Forecast, 2018-2025. The report provides an extensive analysis of the top investment pockets, Porter's five forces model, key segments, drivers & opportunities, changing trends, market player profiles, and competitive landscape. According to the report, the global waste to energy industry garnered $17.27 billion in 2017 and is estimated to reach $27.70 billion by 2025, registering a CAGR of 6.1% from 2018 to 2025.
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Rise in demand for renewable energy sources and increase in electricity consumption worldwide drive the growth of the market. However, high initial & maintenance costs hinder the growth of the industry. Conversely, rapid urbanization and increase in investments by governments from developing economies such as India and China would create new opportunities for the market players in future.
Thermal technology segment to maintain its lion's share by 2025
The thermal technology contributed more than 90% of the total market share in 2017, owing to rise in demand for energy generation from various types of wastes and development of new equipment. This segment is expected to retain its lion's share by 2025. However, biological technology segment would register the highest CAGR of 6.5% from 2018 to 2025, owing to increase in demand for anaerobic digestion plants for the treatment of various types of wastes obtained from different sources.
Europe: The highest revenue generating region
Europe accounted for more than one-third of the total market share in 2017, owing to the growing demand to replace waste treatment methods along with augmenting requirement for energy. This region would remain dominant, in terms of revenue, throughout the forecast period. However, Asia-Pacific would register the highest CAGR of 6.3% from 2018 to 2025, owing to stringent regulations regarding the conservation of environment along with increase in inflow of investments for energy generation.
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Leading industry players
The key market players analyzed in the research include Waste Management Inc., C&G Environmental Protection Holdings, Suez Environment S.A., Babcock & Wilcox Enterprises, Inc., Constructions industrielles de la Méditerranée (CNIM), Covanta Energy Corporation, China Everbright International Limited, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC, and Veolia Environment. They have implemented various strategies, such as expansion, collaborations, joint ventures, mergers & acquisitions, partnerships, and others, to gain a lead position in the industry.
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SOURCE Allied Market Research