Waste to Energy Growth
The global waste to energy market is expected to reach a value of US$ 42,979 million by 2023, according to a new report.
Taken from a base value of US$ 28,964 million in 2016, this would mean a CAGR of 5.8% from 2017-2023, highlighting the growth potential of this sector.
The growth of the waste to energy market will be driven by a combination of factors, according to Energias Market Researchs report Global Waste to Energy Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023.
These include increasing waste generation, high energy demand, restricted land fill capacity and growing environment concerns related to waste disposal. Waste to energy involves processes that transform waste to a usable form of energy – mainly heat and electricity. Not only does the sector provide a solution to energy security, but it also drastically reduces the amount of non-reusable and non-degradable waste that needs to be dumped.
The potential of the market has led to a new range of technologies suitable for waste to energy processes, ranging from small scale distributed energy schemes suitable for villages to large city municipal options.
One of the biggest growth areas for waste to energy at the moment is India. The Indian government has pledged to invest US$ 3 billion over the next few years under the Swachh Bharat Mission for cleanliness, waste-management and waste-to-energy projects. In addition, the government has pledged to bring electricity to 600,000 villages, which in many cases will require distributed energy generation systems.
The report points out that the global waste to energy market “offers abundant opportunity for investors to generate business from waste to energy plants.”
OPEN recognises the importance of using waste to produce energy and as such has included waste to energy companies within the OPEN Cleantech Equity Fund portfolio.
The Enersel Engine Company has designed an internal combustion engine, created to run on low grade gaseous and liquid fuels such as syngas, biomass, used cooking oils and pyrolysis oil.
Concord Blue is a company that has invented a unique way of creating clean synthetic gas (syngas) from nearly any kind of organic waste.