The global WTE market is expected to reach USD 37.64 billion by 2020, according to a new study by Grand View Research, Inc. Strong shift in trend towards energy security around the world coupled with decreasing landfill area is expected to remain a key driving factor for the global WTE market. Government support in the form of tax benefits and government subsidies are also expected to have positive influence on the market growth over the next six years. Threat from other established renewable energy sources particularly solar, wind and hydro is expected to remain a key challenge for market participants. In addition, high upfront cost associated with establishment of WTE plants is also expected to hamper the market growth.
Thermal WTE technologies emerged as the leading WTE technology and accounted for 88.2% of total market revenue in 2013. Operational ease and simple process associated with thermal technologies have been major factors driving its market. Flue gases emitted through these technologies have been a major issue for the market growth. Technological advancements such as flue gas desulfurization are expected to counter such challenges and propel growth for thermal WTE technologies. Biological technologies are expected to witness the highest growth rate over the forecast period. The segment is expected to grow at an estimated CAGR of 9.7% from 2014 to 2020. Biological methods are considered to be environmental friendly compared to thermal technologies which is expected to help them penetrate the market.
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