The value of the global waste incineration market is set to hit $16.8 billion by 2022, according to a new report by industrial markets research company, SBI Reports.
The report found that while global growth in incineration faltered in the wake of the global economic turndown, markets are well-poised for continued recovery and consistent growth.
The analysts said that since 2008 the global market for incinerators has resurged from $7.9 billion to $9.2 billion in 2012 at a compound annual growth rate (CAGR) of 3.9%).
The researchers also forecast a CAGR of 6.2% for the years between 2012 and 2022 to take the total value to some $16.8 billion.
Expansion and contraction
According to the authors, observed and forecasted growth reflects a combination of steady market expansion countered by notable contractions for select technologies and applications, through 2022.
The analysts added that these trends reflect an array of complex market influences, ranging from technology cost effectiveness to incinerator plant capital and operation period economics to regulatory support as well as regulatory controls on incinerator deployment.
The report observed that in North America landfills are by far the preferred method of disposal for municipal waste, and the continent is served by more than 6500 landfill sites. European waste management practices however, stress reduced landfilling plus incentivising or even mandating of incineration/waste to energy.
In China, the report said that an estimated 1400 new landfills would need to be established by 2030 to handle 500 million tonnes of waste, and that the government is looking toward all forms of waste management including waste to energy, to minimise and reduce anticipated future waste management burdens.
The report, Waste Incinerator Technologies Global Markets contains data on the worldwide market for moving grate, rotary-kiln, static hearth/static furnace, multiple furnace, and fluidised bed incinerators and identifies key trends affecting the marketplace.
Source: Waste Management World
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