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Incinerator Market Size
Incinerator Market was valued at USD 17.7 billion in 2023 and is poised to witness more than 2.4% CAGR between 2024 and 2032. Governments worldwide continue to implement and enforce stricter environmental regulations, which in turn will significant opportunities for business expansion. These compact systems are more accessible for local communities and industries, accelerating the industry potential.
The incinerator industry is set to witness an appreciable momentum owing to its potential to address both waste management and energy generation needs. This trend aligns with a growing focus on sustainable practices and renewable energy sources. These systems enhance efficiency, reduce energy consumption, and improve the overall performance of incineration processes.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 17.7 Billion |
| Forecast Period: | 2024-2032 |
| Forecast Period 2024-2032 CAGR: | 2.4% |
| 032 Value Projection: | USD 21.9 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 360 |
| Segments covered: | Product, End Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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COVID– 19 Impact
The COVID- 19 pandemic led to the suspension of various industrial operations, including infrastructure development and refurbishment/restructuring projects. Governments in different regions implemented nationwide lockdowns to mitigate the impact of the pandemic. However, the measures taken by governments to resume activities in key sectors, including infrastructure projects and manufacturing units, are expected to have a significant positive impact on growth.
Incinerator Market Trends
The concept of a circular economy focusing toward minimizing waste and maximizing resource use will drive the industry growth. Increasing social awareness regarding environmental issues has led to a demand for more transparent and eco-friendly waste disposal solutions, influencing the development of cleaner and more efficient incineration technologies. Environmental regulations and a growing emphasis on sustainability have led to the development of incinerators with improved emission control systems to minimize the impact on air quality, stimulating the product penetration.
Incinerator Market Analysis
The industrial incinerator industry is set to grow at a 2.3% CAGR through 2032. Automation and advanced monitoring systems were becoming more prevalent in industries, driving the business landscape. The product offers key advantages including optimized performance, more safety, and meet regulatory requirements, which in turn will foster the business scenario.
The grate incinerator market holds a share of over 30% in 2023. Increasing applicability of these units for waste disposal and energy recovery through the generation of electricity or heat will fuel the business outlook. The concept of waste-to-energy has gained traction, with grate incinerators playing a role in converting waste into usable energy. This aligns with the broader trend of seeking alternative and renewable energy sources, which in turn will drive the industry growth.
- The Asia Pacific incinerator market reached USD 6.7 billion in 2023. The region is experiencing rapid urbanization and industrialization, leading to a significant increase in waste generation. Growing awareness among the public about the environmental impact of improper waste disposal has led to increased demand for advanced waste treatment methods.
- Increased awareness and regulations related to environmental protection have driven industries to adopt cleaner and more sustainable technologies, including advanced incineration methods. The developing countries across the region are exploring waste-to-energy solutions, where incineration is used to generate electricity, energizing the industry dynamic.
Incinerator Market Share
The industrial incinerator business was experiencing some degree of consolidation, with larger companies acquiring smaller ones or forming strategic partnerships to expand their product portfolios and geographical presence.
Incinerator Market Companies
The key industry players include:
- Vikas Engineering
- EEW Energy from Waste GmbH
- Maximus Envirotech Pvt. Ltd.
- Babcock & Wilcox Enterprises, Inc.
- Alfatherm Ltd.
- Ketek Group
- Waste Spectrum Ltd.
- ECO Concepts
- Incinco
- Haat Incinerator India Pvt. Ltd.
- Keller Manufacturing, Inc.
- Atlas Incinerators ApS
- Inciner8 Limited
- Dutch Incinerators
- COVANTA
- SUEZ Group
- MARTIN
- Wheelabrator Technologies Inc.
- Gershman, Brickner & Bratton, Inc.
- CHUWA INDUSTRIAL CO., LTD.
- Keppel Seghers
- MITSUBISHI HEAVY INDUSTRIES, LTD.
Incinerator Industry News
- In October 2023, Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd. announced that they have received an order from the Fukushima Municipal Government to reconstruct the Abukuma Incineration Plant. The project involves replacing the existing facility with two stoker-type incinerators. The contract includes the handling the operation and maintenance services for the new plant for 20 years.
- In March 2023, EEW Energy from Waste GmbH and LyondellBasell signed a letter of intent to explore a strategic partnership focusing on advanced waste sorting. The partnership aims to extract and recycle plastics from incineration waste streams. The initiative includes construction of waste sorting facilities near EEW incineration plants. This partnership seeks to optimize waste streams, produce plastic waste-based feedstocks, and contribute to sustainability goals by avoiding fossil CO2 emissions associated with incinerating plastics.
The market research report on incinerator includes in-depth coverage of the industry with estimates & forecast in terms of “USD” from 2019 to 2032, for the following segments:
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Market, By Product
- Rotary Kiln
- Fluidized Bed
- Grate
- Static Hearth
- Multiple Hearth
- Others
Market, By End Use
- Municipal
- Industrial
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Europe
- UK
- France
- Germany
- Italy
- Sweden
- Netherlands
- Poland
- Russia
- Asia Pacific
- China
- Australia
- India
- Japan
- South Korea
- Thailand
- Singapore
- Middle East & Africa
- Qatar
- UAE
- Nigeria
- Saudi Arabia
- South Africa
- Latin America
- Brazil
- Argentina
- Chile
- Mexico
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