Upcoming Waste to Energy (WTE) Plants is Expected to Uplift the Demand for Waste to Energy Market

Rapid industrialization and commercialization in countries such as India, China, Japan, and South Korea are leading to the generation of huge amounts of waste. Thus, mushrooming governments' concerns for the waste generated are forcing them to take initiatives for converting the waste to energy and encourage sustainable living which is driving the growth of waste to the energy market in the Asia-Pacific region. Other factors attributing to the growth are the budding focus of governments towards energy production and renewable energy sources are amplifying the growth of waste to the energy market. South Korea’s more than 60% of renewable energy is derived from waste.  

According to MarkNtel Advisors’ research report “Asia-Pacific Waste to Energy Market Analysis, 2020”, the Asia-Pacific Waste to Energy market is anticipated to grow at a CAGR of around 10.75% during 2020-25. The surging number of waste to energy plants (WTE) with government support is aiding in the growth of the market. Several countries are planning to set up WTE plants in the near future. For instance, Malaysia announced to open its first waste to energy plant before 2025. Indonesia’s 12 waste to energy plants are under construction which is expected to get completed by 2022.  

Municipal Waste Grabbed the Majority of the Market Share

The municipal segment bagged the largest market share in 2019 owing to the alarming levels of waste generated from the residents in the region. Thus, to curb this the governments in several countries have announced several projects and investments to convert solid waste for energy production. One such investment announced by India is of USD 55 million with a target of 200MW under the waste to energy program for treating the municipal waste. Therefore, the segment is expected to showcase stimulating growth throughout 2025.

China is Outpacing Other Countries in the Region

Japan grabbed the major market share in 2019 as due to substantial number of waste to energy plants as compared to any other country. As per the Environment Ministry, the country had 380 waste to energy plants operational in 2019 and the country recycles around 84% of the total plastic. However, China is emerging as the leader of waste to energy market in recent years. In 2020, the country is expected to have around 600 waste to energy plants that would produce 600 gigawatts of energy. Therefore, the accentuated demand rising from developing countries is expected to escalate the waste to the energy market as revealed by the MarkNtel Advisors’ research report “Asia-Pacific Waste to Energy Market Analysis, 2020”.

According to MarkNtel Advisors’, few of the leading players are in the Waste to Energy market are Suez S.A, Veolia Environment, C&G Limited, Waste Management Inc., Keppel Seghers, Babcock & Wilcox Company, Hitachi Zosen, Covanta Energy, Amec Foster Wheeler, Evoqua Water, etc.

“Asia-Pacific Waste to Energy Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Waste to Energy providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.       

Market Segmentation:

1. By Technology (Thermal, Biological, Physical), 
2. By End-User (Municipal Waste, Agricultural Waste, Industrial Waste), 
3. By Country (China, India, Japan, Australia, Thailand, South Korea, Indonesia, Philippines, Malaysia and Vietnam, Others),
4. By Company (Suez S.A, Veolia Environment, C&G Limited, Waste Management Inc., Keppel Seghers, Babcock & Wilcox Company, Hitachi Zosen, Covanta Energy, Amec Foster Wheeler, Evoqua Water, etc.) 

Key questions answered in the study

1. What are the current and future trends of the Waste to the Energy industry? 
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Waste to the Energy industry?
5. What are the customer orientation, purchase behaviour, and expectations from the Waste to Energy firms across various regions?