Global waste incineration markets will more than double in value by 2022 to $16.8 billion, according to a new study.
The market has grown to $9.2 billion in 2012 from $7.9 billion in 2008 and is poised for consistent growth, according to a report published by SBI and available from ReportsnReports.com, an online market research reports library.
The growth reflects a combination of steady market expansion along with contractions of other technologies and applications, according to a news release. A variety of market influences are affecting the trend, from technology cost effectiveness to incinerator plant capital and operation period economics to regulatory support.
The report states that in North America landfills are falling out of favor; China’s government with its projected waste generation growth is looking to all forms of waste management, including incineration; and Europe encourages and sometimes mandates incineration and waste-to-energy.