The Asia-Pacific Waste to Energy Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of the Asia-Pacific Waste to Energy market which consists of country-wise market size, market forecast, CAGR market segmentation, market share of various technologies, types of waste, application, etc.
According to MarkNtel Advisors’ research report titled “Asia-Pacific Waste to Energy Market Analysis, 2020”, the Waste to Energy market in the Asia-Pacific region is forecast to grow at the CAGR of around 10.75% during 2020-25. The emerging need for reducing the volume of waste releases from the sectors such as industrial, agriculture, and municipal for sustainable urban living in one of the prime factors contributing to the growth of the market.
Furthermore, the government’s focus on increasing the share of non-fossil fuel energy sources in the power generation mix and the growing demand for energy due to rapid industrialization and commercialization in the countries such as India, Japan, South Korea, and China coupled with the surging population in the countries such as India is resulting in the increasing market growth for the Waste to Energy market.
China to Grow at the Highest CAGR in Forthcoming Years
In 2019, Japan acquired the major market share owing to the early adoption of waste to energy technology. As of 2019, the country had more than 1,000 incinerators out of which, 380 are the waste to energy plants with the help of which the country recycles around 84% of the plastic waste. Besides, the government’s support to waste to the energy industry is also one of the key contributing factors. The government in Japan designated 3 types which are material, chemical, and thermal recycling process which are greatly contributing to the growth of the market in the country.
However, China is expected to witness a robust growth during 2020-25 owning to the increasing investment in R&D for the treatment of municipal solid waste. Also, increasing energy demand due to rapid industrialization in China and the government’s aim to reduce carbon footprints in energy production, coupled with the rising use of non-fossil fuel in energy mix would contribute to the escalating market size of Waste to Energy market in the forecast period of 2020-25.
Municipal Waste Segment to Dominate the Market During 2020-25
In 2019, the municipal waste sector acquired the major market share on an account of the surging volume of waste generated from the resident households. Thus, certain governments in the APAC countries announced several projects and investments to treat the municipal solid waste and use them in energy production. For instance, the Government of India announced the expansion of its waste-to-energy program with an investment worth USD 55 million to municipal waste and a target of 200MW.
Furthermore, thermal technology dominated the Asia-Pacific Waste to Energy market in 2019 and the same trend is expected in the forthcoming years as well, on account of escalation in the residential sector ad surging industrialization. However, the limitation of gasification and pyrolysis plants such as small- and mid-scale applications are emerging as hinderance to the market growth along with the demand for bio-technology is expected to increase in the forecast period, as stated in the MarkNtel Advisors’ research report “Asia-Pacific Waste to Energy Market Analysis, 2020”.
According to MarkNtel Advisors’, the waste to energy industry in the Asia-Pacific region is highly fragmented due to the presence of numerous local and international players. The key players with a considerable 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., and Veolia Environment S.A, among others. The players are launching new products, doing strategic alliances to gain a competitive advantage in the industry.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Asia Pacific Waste to Energy Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and market volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Billion & the volume is in Million Tons.
Q. What would be the growth rate or CAGR of Asia Pacific Waste to Energy Market during 2020-25?
A. The Asia Pacific Waste to Energy Market is expected to grow at a CAGR 10.75% during 2020-25.
Q. Which country would grab the highest market share during 2020-25?
A. It is forecast that Japan will dominate the market with the majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating Asia Pacific Waste to Energy market?
A 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 , etc., are the leading players in the Asia Pacific Waste to Energy market.
Q. Which technology would emerge as an opportunity area for players in Asia Pacific Waste to Energy Market?
A. Thermal Technology is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which type of waste would emerge as an opportunity area for players in Asia Pacific Waste to Energy Market?
A. Municipal waste grabbed a significant market share and would continue to grow at the highest CAGR, presenting immense opportunities for manufacturers and service providers of Waste to Energy technology.