GLOBAL MARKET FOR MUNICIPAL WASTE TO
ENERGY TECHNOLOGIES TO EXPAND TO $41.5 BILLION BY 2021
According to a new market research
report published by Innovative Research and Products, titled ‘Municipal
Waste to Energy – A Technology, Industry and Market Analysis’, the global market is expected to expand from $30.2 billion in
2016 to about $41.5 billion by 2021 at about a 6.5% compound annual growth rate
(CAGR) over the next five years.
Technology
processes that convert municipal waste to energy represent some of the most
promising methods to solve environmental problems and to address increasing
energy demand caused a growing human population coupled with increasing
economic activity.
Municipal waste-to-energy (MWTE) is a
renewable energy source which obtained from resources that are essentially
unlimited, since it consists of human-generated solid waste that is produced in
every country around the globe. MWTE can be used to generate thermal energy
and/or electricity.
The municipal waste to energy (MWTE)
technologies industry has sustained significant growth in the last decade and
is likely to continue to expand in the future because of the increasing demands
for energy and for environmental solutions. In addition to countries in Asia
and in the Americas that are undergoing economic expansions, population growth
is a major driver. Among the countries where we see increased human
consumption, holding the potential for positively impacting the MWTE
technologies industry, are China, India and Brazil.
Within the MWTE sector, there has been
continuous innovation in the technologies for waste to energy conversion
processes, which has resulted in systems having greater efficiencies. In turn, this has increased the scope of
waste to energy technology applications.
A number of MWTE technologies are
available to communities in the United States and other global regions. These
include combustion technologies, landfill gas technologies, plasma gasification
technologies, pyrolysis gasification technologies and refuse-derived fuels.
According to the Irap report, Global
market for Municipal Waste to Energy Technologies was estimated to have reached
$30.2 billion in 2016 and will reach $41.5 billion by 2021 with a growth rate
of 6.5% compound annual growth rate (CAGR) over the next five years.
In terms of region wise market share,
the Asian region offers the greatest opportunities for growth, a trend that is
expected to continue through 2021 followed by Europe and The Americas with The
Middle East and Africa as distant 4th and 5th position.
In terms of technologies used, the Combustion Technology dominates the market.
SUMMARY Table
GLOBAL MARKET FOR MUNICIPAL WASTE TO ENERGY
TECHNOLOGIES, 2016 and 2021
($ millions)
Product Group
|
2016
$Millions
|
2021
$Millions
|
CAGR %
2016-2021
|
Municipal Waste to Energy
Technologies
|
$30,231
|
$41,481
|
6.5%
|
Source: iRAP,
Inc.
More details of the report are available from Innovative Research and Products (iRAP), Inc., visit http://www.innoresearch.net/reportlist.aspx?cid=2 or contact at Tel: 203-569-7909, E-mail: marketing@innoresearch.net
Data and analysis extracted from this press release must be accompanied by a statement identifying iRAP, Inc., P.O. Box 16760, Stamford, CT 06905, USA; Telephone: (203) 569-7909, Email: marketing@innoresearch.net as the source and publisher. Thank you. |