This is due to higher population density - Plants are likely to be created in China, the United Kingdom, Central and Eastern Europe (especially Poland), and India
London UK /PRNewswire/ - The global shift from coal and nuclear power to renewable energy in order to lower carbon dioxide emission and ensure energy security is giving a boost to the waste to energy (WTE) plant market. While WTE plants in some geographies are already well developed and are in the process of being modernized to comply with local emission standards, other regions have only just begun installing WTE plants and gaining investor interest.
New analysis from Frost & Sullivan (http://www.environmental.frost.com), Global Waste to Energy Plant Market, finds that the market earned revenues of $17.98 billion in 2012 and estimates this to rocket up to $28.57 billion in 2016. WTE thermal solutions are witnessing robust demand from regions with high population density but limited area, such as Europe and Asia. Upcoming WTE plants are likely to be in China, the United Kingdom, Central Eastern Europe (especially Poland), and India.
"Limited availability of land for landfilling and rising public awareness on recycling have stepped up interest in renewable energy sources. At the same time, municipal solid waste (MSW), which is characterized by high calorific value, has been recognized as an attractive energy carrier," said Frost & Sullivan Energy and Environmental Research Analyst Monika Chrusciak. "This creates opportunities for market participants to provide innovative, economically-sound WTE solutions for the fast growing volumes of MSW globally."
Environmental regulations too drive the WTE market. Developed countries, which have introduced coherent strategies and incentives, have witnessed robust expansion. The need for refurbishment and modernization of WTE plants is further widening market potential in these regions.
On the other hand, developing countries are in a transitional stage and lack effective regulatory structures for WTE conversion and sustainable waste management. Lack of clarity in economical incentives, in particular, leads to ambiguity in the market. Moreover, developing regions usually use low-cost landfilling solutions to manage excessive volumes of MSW material. The high investment required for advanced WTE techniques also limits adoption.
"To overcome these challenges, market participants must scout for opportunities in countries with escalating energy demand and shrinking natural reserves," advised Chrusciak. "WTE plant suppliers should focus on process integration by developing holistic solutions to provide energy efficiency and positive returns."
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