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WELLESLEY, MA --(Marketwired - January 11, 2016) - Asia-Pacific has emerged as a major hub for waste-to-energy (WTE) development, which should provide enormous growth opportunities for market participants. BCC Research reveals in its new report that in particular, China and India have been conducting extensive R&D to develop low cost WTE technologies as an alternative form of energy.
Waste-to-energy is the process of generating energy as electricity or heat from a waste source. Biological methods that convert waste to biogas are also classified under this category because biogas can be converted to heat energy, electricity or transport fuel. These technologies are drawing growing interest due to their potential to reduce or eliminate waste that otherwise would contribute to greenhouse gas emissions from landfills.
The global waste-to-energy market, which totaled $26.7 billion in 2014, should reach $35.5 billion in 2019, reflecting a five-year compound annual growth rate (CAGR) of 5.8%. Thermal technology as a segment, which reached $25.4 billion in 2014, is expected to reach $30.2 billion in 2019, growing at a five-year CAGR of 5.2%. Biological technology as a segment, which reached $2.3 billion in 2014, should reach $3.9 billion in 2019, reflecting a five-year CAGR of 10.9%.
Global concern over pollution from non-renewable sources of energy has focused attention on the waste-to-energy market because of its smaller environmental footprint than those created by other types of energy. Key market drivers include the rising demand for electricity from developing countries, the growing concern about the depletion of fossil fuels, the increasing demand for clean energy based on environmental concerns and an urgency to reduce the volume of landfill waste. The technology push toward sustainable technologies and growing participation of the private sector in developed economies are major market drivers, as well.
The shift in the trend toward energy generation using renewable resources should remain a key driving factor for the global WTE market, particularly in the emerging economies of Asia-Pacific. Development of a sustainable, long-term solution to meet growing energy demand remains a defining issue. Energy security may be defined as providing energy to all at affordable prices. The global energy industry has been witnessing volatility in the prices of key energy resources such as crude oil and natural gas. In addition, there is a large environmental risk associated with the use of such resources.
"To overcome such challenges, governments across various nations have joined leading renewable energy companies to work to include renewable energy in their energy baskets," says BCC Research analyst Maya Agnani. "Governments, particularly across Asia-Pacific, have been working to reduce their carbon footprints and at the same time cater to growing energy needs. Renewable energy has been penetrating the global energy market for quite a while, and it is expected to increase its share of the global energy mix over the next decade."
Thermal and Biological Waste-to-Energy Markets (EGY063B) analyzes the global markets by technology and geography, and examines the market impact of regulations and government-supported programs. The study focuses on North America, Europe, Asia-Pacific and the rest of the world (ROW). Analyses of global market drivers and trends, with data from 2014 and projections of CAGRs through 2019 are provided.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world's greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email email@example.com.
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