Waste to Energy Technologies Market to Reach US$41.5bn by 2021
The problem of dealing with municipal waste, coupled with the battle against climate change, is going to lead to huge opportunities in the waste to energy market in the coming years.
According to a new report by ReportLinker, the global market for municipal waste to energy (MWTE) technologies is expected to expand to about US$41.5 billion by 2021, at a compound annual growth rate (CAGR) of around 6.5%.
The report, Municipal Waste to Energy: A Global Technology, Industry and Market Analysis, points out that such technology has many benefits. It says: “Technology processes that convert municipal waste to energy represent some of the most promising methods to solve environmental problems and to address increasing energy demand caused a growing human population coupled with increasing economic activity.”
It adds: “MWTE is a renewable energy source which is obtained from resources that are essentially unlimited, since it consists of human-generated solid waste that is produced in every country around the globe. MWTE can be used to generate thermal energy and/or electricity.”
MWTE benefits include the fact that it increases the flexibility of power systems, pollution and emissions are reduced compared to conventional energy systems, and it improves energy security by reducing the need for imported fuels.
MWTE is not a new sector, but new technologies are proving to be a major driving force in its rapid expansion. The report says: “There has been continuous innovation in the technologies for waste to energy conversion processes, which has resulted in systems having greater efficiencies. In turn, this has increased the scope of waste to energy technology applications.
“Moreover, some MWTE technologies are suited to small off-grid applications. Small energy systems can often contribute to the local economy by creating jobs in manufacturing, installation and servicing.
“A number of MWTE technologies are available to communities in the United States and other global regions. These include combustion technologies, landfill gas technologies, plasma gasification technologies, pyrolysis gasification technologies and refuse-derived fuels.”
One of the most promising new technologies has been developed by Concord Blue who form part of the OPEN Cleantech Equity Fund. This proven process transforms nearly any form of local waste into a clean syngas. Uniquely high in hydrogen and low in tars, Concord Blue’s syngas can be used to fuel hydrogen vehicles and fuel cells, be combusted to produce electricity, used as feedstock for green chemicals or be upgraded into F-T liquids for low carbon fuels.
It is a process that is poised to take a significant share of the global MWTE technology market.