Global waste to energy (WTE) market is expected to reach USD 43.96 billion by 2024, says a report from Research and Markets.
Stringent waste management regulations particularly in Europe and in the U.S. coupled with the rise in concern to improve the waste management systems is expected to remain a key driving factor for global waste to energy market.
The shift in focus towards energy generation through alternative routes is also expected to shape the industry structure.
Emerging economies such as India and China has been witnessing a sharp increase in energy demand on account of rapid industrialization and urbanization which has prompted energy producers to look for alternative energy sources.
Since these countries generate a lot of industrial waste, they have become high potential markets for WTE technologies and are expected to provide ample opportunities to companies involved.
Companies such as China Everbright International and Babcock & Wilcox Enterprises have adopted acquisition strategies to enhance their waste management services. Most of the companies have tie-ups with local municipal solid waste providers for the distribution of waste sources.