According to the latest report by IMARC Group, titled “Incinerator Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the global incinerator market trends, drivers, segmentation, growth opportunities and competitive landscape to understand the current and future market scenarios.
What is Incinerator Market?
The global incinerator market size reached US$ 15.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 22.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.
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What is Incinerator?
An incinerator is an apparatus that uses firewood and other waste materials, such as sawdust and straw, to safely dispose of liquid, solid, and gaseous wastes emitted from the manufacturing process. The waste materials produced during incineration are converted into fly gas and residual ash. The incinerator recuperates energy, which is then used to generate electricity by thermal or steam flow through the use of auxiliary equipment. Currently, the product is witnessing massive popularity in treating municipal or industrial solid waste, hazardous waste, medical waste, and disposal of construction demolition debris.
Incinerator Market Trends:
The rising environmental awareness and the increasing demand for sustainable products for end-use applications are some of the key factors primarily accelerating the market growth. In line with this, key market players are investing heavily in research and development (R&D) activities to develop eco-friendly incinerators with minimal fuel consumption, which is bolstering the market growth.
Additionally, governments of various nations are implementing several laws for the proper disposal of waste generation, which, in turn, is providing an impetus to the market growth. Moreover, the growing generation of hazardous and non-hazardous waste from several industries, such as food & beverage (F&B), cosmetics, automotive, and plastic, the declining availability of landfills, and the rising product application to treat non-organic and artificial waste are boosting the market growth.
Leading Companies Operating in the Global Incinerator Industry:
- Babcock & Wilcox Co.
- Covanta Energy Corp.
- Suez Environnement Co. S.A.
- Constructions industrielles de la Méditerranée S.A
- Gershman, Brickner & Bratton, Inc.
- EEW Energy from Waste Gmbh
- Martin Gmbh
- Wheelabrator Technologies
- Novo Energy, LLC.
Incinerator Market Segmentation:
Breakup by Product Type:
- Moving Grate
- Static Hearth, Furnace and Multiple Hearth
- Rotary Kiln
- Fluidized Bed
Breakup by End-Use Sector:
- Municipal Sector
- Industrial Sector
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
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