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A report on Waste-to-Energy Market was added by Kenneth Research which covers the market size and growth over a span of 9 years, i.e., over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Waste-to-Energy Market Products.
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As per the statistics recorded by the U.S. Energy Information Administration, the investments in solar PV and wind energy increased by about 15% from 2010 to 2018 in the United States. This increased expenditure in the industry is predicted to be observed as a result of rising corporate procurement in the region and in this sector.
The Global Waste-to-Energy Market was valued at US$ XX Mn in 2016 and is expected to reach US$ XX Mn by 2022 growing at a CAGR of XX% during the forecast period. With the ever growing population, and the modern lifestyle of the urbanized cities, the level of waste generated globally is going higher day by day. So, there is a concentrated focus on the management of these wastes. Initially, there was a huge reliance on landfills as a waste management strategy. But with awareness, land filling has become more and more expensive and restricted. To find an alternative to this, the focus was on waste incineration. But, with time and advancement in technology, the focus shifted on new cost effective and sustainable technology platforms, in the form of Waste-to-Energy (WtE). Waste-to-energy processes are based on combustion technologies and are highly efficient. Power plants consumethe solid waste as their fuel instead of oil, coal or natural gas.
Market Dynamics
Waste incineration is being implemented by several governments as a waste management approach. But incineration poses several challenges, and a loss of opportunity of waste being a source of energy. This is leading to the emergence of WtE market that is more environmental friendly and cost effective.
The waste management industry is changing its landscape radically.WtE has already gained the status as an important component of integrated waste management strategies, across the globe. Both political and environmental attention is turning towards the development of cost effective and sustainable solutions to this problem.
The ever increasing population, rapid urbanization leading to the generation of great amount of waste, and shortage of landfill spaces along with the high ecological standards drivethe growth of this market globally. Today, even the municipalities from all over the world are implementingWtE plants to take care of the mounting waste being generated.
Restraints and Challenges
Despite being the most efficient method of waste management, it demands high infrastructure and installation costs. This can limit the growth of the Waste-to-Energy Market . Apart from this, there have been health concerns because of the emissions from the thermal WtE process. Also, the lack of awareness regarding the benefits of WtE, especially in the developing countries, can be a major challenge for the industry.
Opportunities
The recent trends show that there is a growth of recycling industry across various developed economies such as U.S., Germany, The Netherlands and Japan. This is expected to drive the WtE projects in the near future.
Market Segmentation
Based on Technology:
Thermal
Biological
The thermal segment commandsthe largest share and is anextensively used form of energy generation through waste. It is relatively a simple process compared to the biological process, which drives the thermal WtE technology growth.
Regional/Geographic Analysis
Europe led the global market in2015. The region is projected to grow at a decent rate over the forecast period. Strict government regulation to minimize the industrial waste is expected to boost the growth in the region. Asia Pacific is expected to command the second largest share of the industry. Countries like China and India bear a great potential for growth due to increasing industrial and residential waste.
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Key Players
Key players operating in this industry include Abu Dhabi National Energy Company PJSC, Covanta Energy Corp., Foster Wheeler A.G., Constructions Industrielles de la Mediterranee., Babcock & Wilcox Enterprises, Inc.,and Xcel Energy Inc.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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About Kenneth Research:
Kenneth Research is a multi-client market research database that aims at providing reports that help industry professionals including various individuals and organizations to identify the market trends and scope, thereby making it easier for them to take decisions and form strategies after complete assessment of the market. The various industries catered by the company include healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence and several others. Being a global market research reselling firm, Kenneth Research provides strategic business consultancy services at a global level and offers a single platform for the best market research reports.
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George Benson
George Benson is an energetic and versatile freelance writer for 5 years, he pens down any type of article and web content. He is a Cambridge University Business English Certificate (Europe Level) holder. He is analytical, enthusiastic, and ingenious, with the essence to work variously, and strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily possesses.
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