Global Waste to Energy Plant Market to Grow at a CAGR of 5.35% by 2016

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EnergyPlantMost of the countries are headed to be in number one position. More number of industries means growth in the economy. But what about the waste produced by these industries, and its effect to the environment. People have ignored the environment for a very long time. But the recent series of natural disasters has made people aware about environmental problems. But what if the waste produced by the industries are turned into energy or combustible fuel.

Waste-to-Energy is using modern biochemical technologies and combustion method to recover energy. These wastes are mostly in the form of stream and electricity prepared using urban wastes. The technology used here can reduce 90 percent of the volume of the original waste which heavily depends upon its composition. The waste to energy technology is the procedure to convert waste to methanol, ethanol, methane or synthetic fuels.

A market research analysis predicts that the global waste to energy market will grow at a compound annual growth rate (CAGR) of 5.35 % from the period 2012-2016. The market has seen a considerable growth over the years; in 2006 it was $4.83 billion, which increased to $7.08 billion by 2010. Countries like the US, India, China, and Europe are leaders in the market.

Billions of tonnes of solid waste are converted into electricity and fuels. This method is being slowly adopted by other countries.