The global waste to energy (WTE) market earned revenues of $17.98 billion in 2012 and will rocket up to $28.57 billion in 2016, according to analysis from Frost & Sullivan.
The global shift from coal and nuclear power to renewable energy to lower carbon dioxide emissions and ensure energy security is giving a boost to WTE plants, according to the report, Global Waste to Energy Plant Market.
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, F&S says.
Limited availability of land for landfilling, growing public awareness on recycling and environmental regulations are driving the WTE market.
On the other hand, developing countries are in a transitional stage and lack effective regulatory structures for WTE conversion and sustainable waste management, the report says. 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.
Last month, General Motors said its Renaissance Center now recycles, reuses or converts all its waste to energy, diverting 5 million pounds of trash annually from landfill.