According to a new market research report published by Credence Research “Incinerators Market (Product Type – Fluidized Bed Incinerator, Rotary Kiln Incinerator, Catalytic Combustion Incinerator, Multiple Hearth Incinerator and Liquid Injection Incinerator; Application – Agricultural, Livestock, Industrial, Municipal and Medical) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global incinerators market is set to grow with a CAGR of 4.22% throughout the forecast period to reach US$ 18.2 Bn by 2026.
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Overall incinerators market set to experience the growth of 4.22% across the forecast period, chiefly due to rising attention towards environment and growing effect of pollution on human health. Incineration is oxidation of combustible material contained in the waste, where waste is highly heterogeneous material, consisting of minerals, organic substances, metals and water among others. The general objective of incineration with waste management is to treat waste thereby reducing its volume, whilst capturing or abolishing potentially hazardous substances. Incineration process also enables recovery of the energy, mineral and chemical content from waste. During incineration process, flue-gases are exhausted that contains majority of available fuel energy as heat. This leads to significant offset in the use of other fuels as well as reduction in Greenhouse Gas (GHG) emissions. Due to such wide area of application, there has been increasing demand for incinerators worldwide, thereby driving the market growth. Incinerators are used across various agricultural, livestock, industrial, municipal and medical applications to manage the waste and evade hazardous pollution as result. Growing demand for incinerators from these sectors to protect the environment is expected fuel the market growth in following years.
Incinerators market segmented based on product type and application. By application, overall market was led by industrial application in 2017. Inability to properly and safely dispose of hazardous wastes adversely impacting on public health, air quality, water resources and biodiversity. With growing industrialization across the world adoption for waste management solutions been increasing with significant rate. Rotary Kiln incinerators majorly find application in industrial sector as it converts solid fractions to gases through volatilization, destructive distillation and partial combustion reactions. Similarly, various governing bodies are aiming for an integrated approach to improve the management and control of municipal wastes so as to ensure a high level of protection for the environment as a whole. With growing regulations and awareness for modern incineration techniques demand for incinerators in municipal applications expected to surge with promising rate.
Demand for incinerators is majorly fueled by rising regulations imposed by regulating bodies on emission of unfiltered gasses, considering its perilous properties. In India, Union Ministry of Environment, Forests and Climate Change (MoEF&CC) announced the solid waste management rules in 2016. These new rules are beyond municipal areas and have included census towns, urban agglomerations, notified industrial townships, airports, areas under the control of Indian Railways, places of pilgrimage, special economic zones and State & Central Government organizations in their ambit. These rules have encouraged centralized treatment on waste to produce energy from it. Presently, incinerators have assisted in several different sectors to regulate the emission of pollutant content by processing on waste contents and with steady technological advancements, it is further expected to enhance the capacity of waste management.