Rapid industrialization, commercialization and surging population across the globe are resulting in the increasing demand for energy. The region accounts for around 50% of the global energy consumption in 2020. Also, the government in countries such as India, China, Japan are more focused on increasing the share of renewables in the power generation mix to reduce carbon footprints. Therefore, the waste to energy is the solution market is emerging in the Asia Pacific region.
Furthermore, a continuous surge in the municipal waste releases from the residential, commercial sector and waste from industries are resulting in the need for sustainable urban living. Therefore, with the government’s support, the large amount of waste is being used for the electricity production, which is contributing to the increasing market for waste to energy market in the Asia Pacific region.
According to MarkNtel Advisors’ research report “Asia Pacific Waste to Energy Market Analysis, 2020”, the market size of waste to energy in the Asia Pacific region is forecast to grow at a CAGR of around 10.75% during 2020-25. The market size is surging on account of increasing waste from process industries, medical industries coupled with municipal waste particularly in low and middle-income countries. It is expected that the Asia Pacific region would have around 1.2 billion tons of waste by 2050 and the per capita waste generated daily would be increased by 40% until 2050 in the region.
Furthermore, the surging number of waste to energy plants with the support of the government in the countries are resulting in the growth of the market. In India, there were around 92 WTE plants as of 2019 and the government announced a budget worth USD 62.37 million for the waste to energy scheme in the country for the financial year 2019-2020. Also, Malaysia announced to open first WTE plant in June 2020, Australia’s first waste to energy plant is under construction as of April 2020., Indonesia is planning for 12 waste to energy plants which all would be completed by 2022, are expected to proliferate the waste to the energy market of Asia Pacific region in the forecast period.
Japan to Grab Lion’s Share in the industry
In 2019, Japan grabbed the major market share in the Asia Pacific waste to the energy market. The waste to energy market in Japan is emerging on account of increasing the adoption of waste to energy technology. As of May 2020, Japan recycles around 84% of the total plastic it collects, which is one of the highest rates across the globe. As per Japan's environment ministry, the country had around 380 operational plants in 2019. Moreover, the new waste to energy plants in the country and the refurbishment of old existing plants would contribute to the growing market share of the country. For instance, the government of Hiroshima City announced a four-year plan to upgrade the waste to energy plant for 2019-2022.
However, China and India are expected to grow at a robust pace in the forecast period on account of investments by the government in waste to energy plants. In 2017, china had 339 power plants from which 7.3 gigawatts energy was produced and it is expected that by 2020 the country would have 600 WTE plants and would produce 10 gigawatts of energy. Also, the demographic and economic changes in countries such as India, Indonesia, Vietnam, Philippines, etc., would be impacting the volume of waste which would be contributing to the increase in the market share of the region.
Thermal Technology to Dominate the Market
In 2019, the thermal technology grabbed the major market share and the same trend is expected in the forecast period of 2020-25 too due to the widespread adoption of this technology. Also, increasing waste daily is resulting in the adoption of thermal technology. However, the demand for biological and physical technology is expected to increase in the forecast period as the pyrolysis and gasification technology has some limitation such as the application of these plants are only limited to small and medium scale.
Moreover, the municipal solid waste dominates the market in 2019 owing to the surge in population that leads to rising in the residential sector across the region due to which the municipal waste is also on the rise. It was found that around 62 million tons of waste are being generated in India as of 2019, which is expected to get double by 2030. Also, China generated around 220 million tons of municipal waste every year.
The trend of increase in the release of municipal waste from other countries such as Japan, Australia, etc., would further contribute to the increase in the market share of municipal waste, as revealed by MarkNtel Advisors’ research report “Asia Pacific Waste to Energy Market Analysis, 2020”.
According to MarkNtel Advisors’, the availability of numerous foreign and local players in each country makes the industry highly fragmented. The major market players with a considerable market share in the industry are Wood Group Plc., Babcock & Wilcox Co., C&G Environmental Protection Holdings Ltd., Covanta Holding Corporation, Hitachi Zosen Corporation, Everbright International Ltd., Green Conversion Systems, Inc., Plantec Asia Pacific Pte Ltd., Hitachi Zosen Corporation, Keppel Seghers, Suez Environment Company, Mitsubishi Heavy Industries Ltd, Waste Management Inc., Veolia Environment S.A among others. The companies are offering solutions for waste treatment with new technologies to gain end-users’ traction which helps in increasing market share. For instance, Hitachi Zosen announced that the company got the waste to energy plant in Australia in 2019.
“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 technology 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.
1. By Technology (Physical, Thermal, Biological)
2. By Type of Waste (Municipal Waste, Agricultural Waste, Industrial Waste)
3. By Application (Electricity, Heat, Combined Heat and Power, Transport Fuels, Others)
4. By Countries (China, India, Japan, Australia, South-Korea, Malaysia, Singapore)
5. By Company (Wood Group Inc., Babcock & Wilcox Co., C&G Environmental Protection Holdings Ltd., Covanta Holdings Corporation, Hitachi Zosen Corporation, Everbright international Ltd., Green Conversion System Inc., Plantec Asia Pacific Pte Ltd., Hitachi Zosen Corporation, Keppel Seghers, Suez Environment Company, Mitsubishi Heavy Industries Ltd., Waste Management Inc., Veolia Environment S.A, Others)
Key questions answered in the study:
1. What are the current and future market trends of the Asia Pacific Waste to 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 region followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for Asia Pacific Waste to Energy industry?
5. What are the customer orientation, purchase behavior, and expectations from the Asia Pacific Waste to Energy firms across various regions?