According to a new report published by Allied Market Research, titled, “Incinerator Market,” The incinerator market size was valued at $14.8 billion in 2021, and is estimated to reach $22.6 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.
Commonly observed product types of incinerators are rotary kiln, fluidized bed, liquid injection, and others. Among these, the rotary kiln segment accounted for the highest market share in 2021, owing to its easy construction and high efficiency. The market is analyzed with respect to different process types, such as controlled air incinerators, and excess air incinerators. Among these the controlled air incinerators segment accounted for a high revenue share in 2021. The market is mainly driven by rise in global population which has led to rapid rise in hazardous and non-hazardous waste.
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Furthermore, on the basis of end user industry, the industrial segment is anticipated to grow rapidly, during the forecast period, owing to the rapid rise in industrialization in emerging economies. However, the high upfront cost of incinerator constraints incinerator market growth.
In 2021, Asia-Pacific dominated the global incinerator market share, in terms of revenue, followed by Europe and North America. Moreover, the market in LAMEA is anticipated to grow with high CAGR, rapid growth in industrialization.
The advancements in technology that enables the incinerator operators to effectively collect CO2 from the exhaust of incinerators is anticipated to encourage more acceptance of incinerators; thereby, providing lucrative opportunities for the market growth.
Moreover, governments across the world are moving toward sustainability. Recently, in June 2020, waste to Wealth Mission of India launched a program called ‘Biomedical Waste Treatment Innovation Challenge’. This challenge was won by a startup Ganesh Engineering Works, which developed a decentralized biomedical waste incinerator. This new innovative incinerator is expected to be setup in healthcare facilities in Buxer city of Bihar state of India.
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However, during the pandemic lockdown, various manufacturers in the incinerator market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of incinerator manufacturing companies. However, medical sector during COVID-19, helped the incinerator market to not decline at a significant pace. Moreover, lack of manpower and raw materials constricted supply of raw materials for incinerator; thus, negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key companies profiled in the incinerator market forecast report include ACS Inc. Alfa Therm, Atlas Incinerator ApS, Babcock & Wilcox Co., Chuwa Industrial Corporation, Dutch Incinerators, Eco Concepts, EEW Energy, Haat Incinerator India Pvt. Ltd., Incinco Ltd, Inciner8 Limited, Keller Manufacturing, Inc., Ketek Group, Maximus Envirotech Pvt. Ltd., Shandong Better Environmental Protection Technology Co., Ltd., Vikas Incinerator, and Waste Spectrum Incineration Systems.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging incinerator market trends and dynamics.
- Depending on product type, the rotary kiln segment dominated the incinerator market, in terms of revenue in 2021. And, the liquid injection segment is projected to grow at a significant CAGR during the forecast period.
- By process, the controlled air incinerators segment accounted for the highest revenue share in 2021.
- By end-user industry, industrial segment registered highest revenue in 2021.
- LAMEA is projected to register highest growth rate in the coming years.
- The key players within the incinerator market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the incinerator industry.
- The report provides an extensive analysis of incinerator market opportunities.
- In-depth incinerator market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
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