SBI Energy sees global waste-to-energy market at USD 27bn by 2021
ADP News Renewable Energy Track
March 11, 2011
The worldwide market for waste-to-energy technologies is to reach USD 27 billion (EUR 19.6m) by 2021 from USD 7 billion at present, SBI Energy writes in a recent study.
The market research firm expects the market for incineration, gasification, plasma gasification, pyrolysis, and anaerobic digestion to grow at an annual rate of some 11% in the next 10 years. The forecast is motivated by the projected growth trends within the sector in Europe, the US, India and China.
"As landfill availability continues to decline, the demand for waste management solutions will remain regardless of economic stresses, and will continue to drive the installation of new waste to energy facilities," SBI Energy publisher Shelley Carr said.
The sector has already experienced significant growth during the past five years, driven by global concerns and government actions related to climate change. In 2006 the waste-to-energy market stood at USD 5 billion.
At present, over 2 billion tonnes of waste are being produced each year globally. According to SBI Energy the amount provides more than 24 quadrillion British Thermal Units (Btus) of available energy, or as much heat as is needed to supply some 10% of the global power consumption for a year.
(USD 1 = EUR 0.727)
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