Wellesley, Mass-According to a new technical market research report, THERMAL AND BIOLOGICAL WASTE TO ENERGY MARKETS (EGY063A) from BCC Research (www.bccresearch.com), the global market for thermal and biological waste-to-energy (WTE) technologies was worth $19.9 billion in 2008. This is expected to increase to $26.2 billion in 2014, for a compound annual growth rate (CAGR) of 6.0%.
The market is broken down into thermal WTE and biological WTE technologies. Thermal WTE technologies have the largest share of the market, generating $18.5 billion in 2008. This is expected to increase to $23.7 billion in 2014, for a CAGR of 5.0%.
Biological WTE technologies were worth $1.4 billion in 2008, and this segment is expected to increase to $2.4 billion in 2014, for a CAGR of 11.0%.
Europe has the largest market share, accounting for 48% of the global market, with $9.6 billion in revenues in 2008. The Asia-Pacific region has the second largest market share, accounting for 31% of the global market. North America and the rest of the world account for 11.0% and 10% of the global market, respectively.
Conversion of WTE is becoming a key component of integrated waste management strategies across the globe, as increasing waste volumes force countries to revisit their waste management strategies. Both political and environmental attention is turning towards the development of cost effective and sustainable solutions to this problem.
Production of reusable energy from waste is gaining considerable attention worldwide. Several WTE technologies have already been commercialized and are successful in generating interest and investments in these projects. While thermal WTE plants generate energy in the form of steam or electricity, biological WTE plants produce methane or biogas that can be liquefied, compressed or converted to heat or electricity.