The need for clean energy resources to reduce global carbon footprints remains a key driving factor for the growth of the Waste-to-energy (WTE) industry. WTE involves conversion of combustible parts of Municipal Solid Waste (MSW) to energy by employing suitable processes such as anaerobic digestion, biomass and others. WTE reduces the waste being dumped in the landfills by processing them to energy and reusable by-products, thereby reducing methane gas emission from landfills. The decrease in the number of coal fired power plants and the need to reduce Greenhouse gas (GHG) emissions are expected to drive the market in the upcoming years.
WTE companies such as Bioguard Environmental are expected to benefit from numerous world government initiatives such as tax credits and financial incentives aimed at developing clean tech companies. Waste to Energy market is expected to surpass $37 billion by 2020.The primary shift towards renewable energy source is expected to drive the demand for WTE market. The global WTE market is expected to exceed $37 billion by 2020 and estimated to grow at a CAGR of 5.9% from 2014 to 2020.
The increasing adoption of WTE technologies across the world and increasing industrial waste being produced in countries such as India and China is also expected to drive the market. WTE is one of the fastest growing markets in the US and Europe, due to soaring municipal solid waste (MSW) generation and decreasing available landfill areas in these countries. This significantly enhances the opportunities for emerging WTE companies in Africa such as Bioguard Environmental to capitalize on the growing trends of sustainable waste management.