ALBANY, New York, January 28, 2019
ALBANY, New York, January 28, 2019 /PRNewswire/ --
The global waste to energy market features highly fragmented landscape as it is dominated by large and small players, finds Transparency Market Research (TMR). Some of the major vendors functioning in the global needle coke market are Babcock & Wilcox Enterprises, Inc., Keppel Corporation Limited, Future Biogas Limited, Constructions industrielles de la Méditerranée (CNIM), and Veolia, SUEZ. The major market players are highly focused towards reducing worldwide dependence on the available energy source in order to get maximum share in this market. The favorable government support to the vendors is boosting growth of this market in the coming years. Additionally, the manufacturers are highly focused on research and development activities in order to negative effect of waste on the environment and on living beings. In addition to this, the players are repetitively competing to maintain a position, which has further increased the degree of competition among the other players operating in this market.
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The revenue generated by the global Waste to Energy market is likely to touch valuation of US$ 19 Bn in 2017. The global Waste to Energy market is estimated to expand at robust CAGR 6% during the course of forecast period from 2018 till 2026.
On the basis applications, the electricity generation segments account for 50% share in the global global Waste to Energy market on the basis of value. Owing to growing electricity consumption across the globe is stimulating demand for the electricity generation segment. From the geographical point of view, Europe is likely to dominate the global waste-to energy market due to highest contribution from the Europeans regions.
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Rising Energy Consumption to Boost Global Waste to Energy Market
The rapid increase in energy consumption along with growing focus on generation of power by the renewable source of energy is likely to drive global Waste to Energy market in the coming years. In addition to this, growing industrialization in developing and developed economies such as Asia Pacific is other factor propelling demand for this marketplace. Additionally, the growing investment by the government organization especially in India and China is another factor contributing well for the growth of the global Waste to Energy market in the year to come.
The growing urbanization along with growing disposable income of the population is one of the key factor attributing towards growth of the global Waste to Energy market. For instance, Indian government are providing incentive and subsidiary to the renewable technology in order to generate more and more power through utilizing waste.
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High Initial Cost required to Build Plants May Limit Market Growth
On the other hand, high investment required initially to build Waste to Energy plant is one of the key factor hampering growth of the global Waste to Energy market in the near future. As per Waste to Energy Research and Technology Council (WTERT), a plant with the potential to generate more electricity can cost approximately US$ 110 Mn and US$ 140 Mn to construct. The high cost involve due to growing necessities of equipment's for example digester, energy generator and feedstock preprocessing equipment. Moreover, municipal solid waste plants is likely to take more time to offer financial benefits through this plants.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Waste to energy Market (Waste Type - Municipal Solid Waste (MSW), Agricultural Waste; Technology - Thermochemical (Incineration, Others), Biochemical (Anaerobic Digestion, Others); Application - Electricity, Heat) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026."
The global Waste to Energy market has been segmented as follows:
Global Waste to Energy Market, by Waste Type
Global Waste to Energy Market, by Technology
Global Waste to Energy Market, by Application
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