The global waste to energy market could increase at 8.1% per year until 2019.
That’s according to a report by US consultancy Transparency Market Research, which believes the market is expected to be worth more than $31.8bn (£20.35bn).
The increase is driven by the rising concern towards energy security and growing regulatory support and funding, it added.
Factors such as lower greenhouse gas emissions from landfills and taxes will also affect the global waste to energy market.
By geography, the market is dominated by Asia Pacific generating more than 40% of the total market.
The report claims: “At present, Japan has the highest level of sustainable waste management, while China and India have the potential to generate massive volume of wastes that can be used in waste to energy plants.
“The Asia Pacific waste to energy market is expected to witness healthy growth during the forecast period. This regional market is fueled by rising economic development and accelerating disposable income.”
The study also says the trend towards bio waste will be a game changer.
“On the basis of technology, the global waste to energy market is divided into thermal and biological. At present, the thermal technology sector dominates the market in terms of revenue, while the biological technology sector is projected to demonstrate the fastest growth during the forecast period.”