Global Land Incineration Plants Market to Reach US$68.71 bn in Revenue by 2023

TMR

ALBANY, New York, June 17, 2016 /PRNewswire/ --

Transparency Market Research has released a new market report titled, "Land Incineration Plants Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023". According to this report, the global land incineration plants market was valued at US$43.93 bn in 2014 and is projected to reach US$68.71 bn by 2023 at a CAGR of 5.5% from 2015 to 2023.

A traditional land incineration plant consist of incinerators, waste receipt and handling systems, combustion systems, heat recovery systems (boilers), air pollution control systems, and combustion solid residue handling systems. Incinerators play a vital role in land incineration plants. These reduce the mass of municipal solid waste by almost 80% and volume by 90% by burning it under controlled environment. The heat generated from these plants is utilized for several industrial applications. In most of the cases, the heat generated is transferred to waste-to-energy plants, which utilize it for electricity generation. Bottom ash produced as a by-product from a land incineration plant is utilized in cement plants for the production of cement. Based on the amount of waste incinerated per day, land incineration plants have been categorized into small & medium capacity and large capacity plants.

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Governments and other local authorities across the globe are promoting the development of land incineration plants by offering various funding schemes such as capital grants, prudential borrowing, and waste infrastructure (WI) credits. Introduction of higher landfill tax by several countries such as the U.K. and New Zealand is also driving the development of such plants globally. However, traditional land incinerator plants have attracted a lot of public opposition in the form of protest in several regions primarily due to emission of flue gas. This acts as a major challenge for the development of land incineration plants. However, modern land incineration plants have adopted several advanced and sustainable technologies that have decreased emission of flue gas. These technologies are anticipated to provide newer opportunities to market participants and plant developers in the near future.