China is all set to speed up the growth rate of global Waste-to-Energy (WTE) plants market and expected to increase its market share up to double by the end of 2018. It is because the numbers of WTE plant installations in China are growing at a fast pace and is expected to continue its growth momentum in the next five years.
According to the recently published TechSci Research report “China Waste-to-Energy Plants Market Forecast & Opportunities, 2018,” the market for WTE is expected to grow at the CAGR of around 18 percent during 2013-18, wherein the thermal WTE plants will continue to be the dominant segment.
The report adds that on the other hand, biological WTE plant’s volume will also be significant as it does not lead to environmental hazardous emissions. Whereas, thermal WTE plants are more popular as they have low cost of plant installation and superior rate of processing waste when compared with biological WTE plants. Amongst thermal WTE plants, incinerators process type of WTE plants has the largest market because of its extensive usage on account of its high waste processing capability.
According to the report, China has a clear focus on increasing the capacity of renewable energy, especially energy from waste. The waste used in WTE plants, also known as municipal solid waste, has been increasing in China, which is creating barrier in infrastructural development of the country. On the other hand, it is the most important resource for the generation of energy, which is abundantly available in the country. As a result, China has become a country producing the highest volume of waste.
The negative effects of land filling is being felt by the Chinese government and to combat these issues, they are taking measures, which includes installation of more than 100 waste-to-energy plants in their 12th five-year plan, ending by 2015.
“As China is the biggest manufacturing hub where leading giants have established their production units in the country, it leads to enormous demand for energy in running the smooth operations. As a result, energy consumption requirement in the country is abundant, which is leading to the rising WTE plant installations in the country,” said Karan Chechi, research director with TechSci Research, a research based global management consulting firm.
“Additionally, Chinese government’s supportive investment schemes such as Build-Operate-Transfer and Build–Operate-Own are all set to flourish the WTE plant installations volume in the next five years.”
“China Waste-to-Energy Plants Market Forecast & Opportunities, 2018” has evaluated the future growth potential of China’s WTE plants market and provides statistics and information on market structure, consumer behavior trends. The report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in WTE plants market in China.