Waste to Energy Market Predicted to be Worth USD 52.37 Billion by 2028, Registering a CAGR of 5.20% - Report by Market Research Future (MRFR)
The waste to Energy Industry is growing due to increased pollution levels and waste
/EIN News/ -- New York, US, June 22, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Waste to Energy Market Analysis by Technology [(Thermal Technology (Incineration, Pyrolysis, and Plasma-Arc Gasification), and Biological Technology (Methane Capture, Anaerobic Digestion, and Fermentation)] and Region - Forecast till 2030” valuation is poised to reach USD 52.37 Billion by 2028, registering an 5.20% CAGR throughout the forecast period (2020–2030).
Waste to Energy Market Overview
Waste to energy (WtE) or energy from waste (EfW) refers to a procedure of energy recovery and the method of producing energy in the form of electricity or heat from the initial treatment of waste. Most WtE processes generate heat or electricity directly via thermal combustion or produce a flammable fuel commodity, including synthetic fuels, methane, methanol, or ethanol. The global market for waste to energy has recorded a significant rise in the growth rate in the last few years. The growing demand for the incineration process is the central aspect causing an upsurge in the market's growth. Furthermore, factors such as the increased inclination of consumers toward efficient and easy WtE conversion techniques and a rise in public WtE expenditure may also boost the market's growth over the coming years
Waste to Energy Market Report Scope:
| Report Metric | Details |
| Market Size | USD 52.37 Billion |
| CAGR | 5.20% |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Biological Technology and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Veolia Environment, A2A (Italy), Babcock & Wilcox Enterprises, Inc., Hitachi (Japan), Abu Dhabi National Energy Company PJSC, Ramboll (Denmark), Foster Wheeler A.G., Axpo Holding AG (Switzerland), Covanta Energy Corporation, BlueFire Renewables (U.S.), Waste Management Inc., China Everbright International Limited, Suez Environment S.A., Constructions industrielles de la Méditerranée (CNIM) and C&G Environmental Protection Holdings |
| Key Market Opportunities | Increased demand of customer’s inclination towards efficient energy |
| Key Market Drivers | Increased pollution levels and waste |
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Market Drivers
The global market for waste to energy has registered a massive rise in the growth rate in the last few years. The market's growth is primarily attributed to the increased public disposable waste & industrial waste. Furthermore, factors such as growing awareness among people worldwide and a growing number of government initiatives are also likely to boost the market's growth over the assessment timeframe.
Market Restraints
On the other hand, the rise in concerns related to the environmental hazards linked with the incineration process may impede the market's growth.
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Waste to Energy Market Segments
Among all the technologies used, the thermal energy segment is anticipated to dominate the global market for waste to energy over the assessment era. It is the combustion of organic or homemade waste using pyrolysis or gasification and converting it into heat, fuel, or gas. At the same time, biochemical energy deals with the fermentation of chemical waste from industries, including waste materials like ethanol, methanol, etc., and transforming it into biogas. The extent of oxygen used and the temperature to which the waste is heated up is the basis of the segmentation of these two types of energy resulting in the amount of carbon dioxide and water production.
Among all the verticals, the public segment is anticipated to dominate the global market for waste to energy over the forecasted timeframe. Several people have begun utilizing degradable waste as fertilizer for crops and soil for their kitchen garden.
Waste to Energy Market Regional Analysis
The amounts of waste gathered across the globe are the world's prime concern, resulting in global warming at an alarming rate. The global market for waste to energy is analyzed across five major regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
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As per the MRFR analysis reports, the Asia-Pacific region is anticipated to lead the global waste to energy market over the assessment timeframe. Japan and China are the leading revenue pockets across the region, providing the optimum potential for market growth. The regional market's growth is attributed to the rising government funding for municipal solid waste management. Furthermore, the increasing waste awareness of energy plants across several economies such as Indonesia, Singapore, India, and Thailand are destined to drive regional market growth. In addition, the increasing MSW and rapid urbanization & development are anticipated to catalyze the regional market's growth for waste to energy.
The waste to energy market for the European region is anticipated to register rapid growth in the coming years. The growth of the regional market is attributed to the presence of major market players such as EQT AB and Ramboll Group A/S, Veolia, and Suez across the region. Furthermore, the factors such as favorable regulatory policies, including direct subsidies, carbon tax, and landfill taxes to waste to energy plants, are likely to further drive the regional market over the forecast period. In addition, the increasing demand for energy-efficient and clean energy and the rising population are anticipated to catalyze the regional market's growth over the assessment timeframe.
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Waste to Energy Market Competitive Analysis
Dominant Key Players on Waste to Energy Market Covered are:
- Veolia Environment
- A2A (Italy)
- Babcock & Wilcox Enterprises Inc.
- Hitachi (Japan)
- Abu Dhabi National Energy Company PJSC
- Ramboll (Denmark)
- Foster Wheeler A.G.
- Axpo Holding AG (Switzerland)
- Covanta Energy Corporation
- BlueFire Renewables (U.S.)
- Waste Management Inc.
- China Everbright International Limited
- Suez Environment S.A.
- Constructions industrielles de la Méditerranée (CNIM)
- C&G Environmental Protection Holdings
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