Consultancy firm Frost & Sullivan says the key drivers behind this boom will be a growing volume of municipal solid waste, an increasing need to generate energy and stricter legislations.
Frost & Sullivan research analyst Monika Chrusciak says waste-to-energy plants are currently attracting strong interest in regions with high population density and limited area, such as Western Europe, the Middle East and southern Asia.
At the same time, says Chrusciak, regions with developed economies and an existing installed base of waste-to-energy plants “are expected to create vast modernisation opportunities by 2016”.
“Waste to energy plants provide waste treatment solutions which shift from limited recycling value to recycling with energy recovery. Successful operation of WTE plant relies on internal WTE plant economies, understanding of local conditions and also on an innovative business model.”
She added: “The WTE market’s future prospects highlight the need for increased collaboration among stakeholders to complement each other’s expertise and knowledge base in tapping future growth opportunities.”