The commercialisation of modern biological waste to energy systems and technologies is promoting a new wave of growth in the green energy sector, according to a new report.
Government regulation and support is driving the demand for biological waste-to-energy plants around the world and the market is becoming more competitive, according to Frost & Sullivan.
The European market for biological waste, the largest in the world, is expected to reach $3.6bn in 2016. The market in Germany has grown in the last ten years, largely driven by government policies and a supportive banking sector, the report says.
The market in the Asian, North and South American regions remains underdeveloped for three main reasons: the governments in these regions don't yet have biogas or green energy policies and the quantity, availability, quality and management of feedstock is not appropriate for investments or long-term growth across this market, according to the report.
The report also predicts exponential market growth in Italy, the Czech Republic, Brazil, the US, Canada, India and Australia over the next few years.