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Smart City Investments to Implement Sustainable Waste Management Infrastructure are Driving Market Growth in Asia
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Asia’s large population and rapid urbanization have led to vast amounts of municipal solid waste (MSW) generation. Estimated at more than one million tonnes per day, MSW generation in urban Asia is only expected to increase in the coming years. Managing this waste is becoming a problem, with landfilling fast fading as a viable option, since land availability is decreasing and the landfills are filling up much before their intended active lifespans.Waste-to-energy (WtE), or energy-from-waste (EfW) as it is also commonly called, is a means of waste management that burns unrecyclable waste and converts it into electricity and heat for further use. It is generally used in cities to convert municipal solid waste into electricity and district heating. The residues generated from WtE are generally sent to landfills and account for more than a 95% volume reduction to them. Nowadays, WtE companies are also finding new uses of these residues to try to ensure that almost no waste goes to landfills. This also acts as an additional source of income.A circular economy works on the premise that virtually no waste moves out of the current system (no landfilling ideally) and all end-of-life products are reused, repurposed, recycled or have their energy recovered. This principle is gaining greater acceptance in Asia, with countries like Japan, China, India, and Singapore developing their own strategies in order to transition into a circular economy. Many of them are also seeing WtE as their main way of energy recovery from unrecyclable waste.This study looks into the WtE market in Asia, with a particular focus on waste incinerators and gasifiers. The main countries/regions covered in this study are China, India, East Asia (Japan, South Korea, and Taiwan), and Southeast Asia (Singapore, Malaysia, Thailand, Vietnam, Indonesia, and the Philippines). This study calculates the total and regional Asian market for WtE in 2019 and forecasts it to 2026. This study also calculates and forecasts the market for incineration and gasification systems. The markets have been shown in terms of CAPEX revenues as well as in terms of new WtE projects. The study talks about the various drivers and restraints that affect the market in Asia, and also points out the effects of the Covid-19 pandemic on the market. The study looks into the key competitors in the market across the region and estimates their market shares. Some of the companies mentioned in this study include the Hitachi Zosen Corporation, China Everbright International, Keppel Seghers, CNIM Martin, Veolia, and Suez. Finally, the study provides a detailed list of growth opportunities in the market, including advanced digital solutions, the integration of WtE with other circular economy elements, and some improved business models for WtE companies to explore.
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