India,Pune, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The global waste to energy market size is poised to grow from USD 33.28 billion in 2022 to USD 44.62 billion by 2029, growing at a CAGR of 4.3% during the forecast period. The waste to energy market is driven factors such as, increasing waste generation, environmental concerns, government incentives, and advancements in technology for converting waste into clean energy, fostering sustainable development. This information is provided by Fortune Business Insights, in its report titled, “Waste to Energy Market, 2022-2029.”
Industry Developments:
- Covanta partnered with the Commonwealth of Massachusetts and is focused on reducing emissions amount at two of its provision and enhancing accountability through constant online emissions tracking accessible to the public.
- Veolia continued to expand its presence in the waste to energy sector by acquiring new facilities and enhancing its biogas production capabilities.
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Market Drivers and Restraints:
Surging Application of Waste Management Services to Drive the Waste to Energy Market Growth
Waste management continues to be a big issue in many developed nations. Agriculture, governmental, and industrial operations produce more than a billion tonnes of garbage. By using waste to energy systems, numerous industries throughout the world are concentrating on lowering energy usage to save costs. Thermochemical waste to energy methods can assist end-users in changing waste management to create an income opportunity for numerous applications, including food processing, dairy farms, and wastewater treatment.
COVID-19 Impact:
Growth Slowed by Supply Chain Issues and Production Unit Closures Due to Pandemic
As a result of the COVID-19 outbreak, several important industries, including those that recycle trash and produce energy, are no longer operating. Lockdown has restricted activities with fewer staff and working hours and has been imposed across numerous countries to stop the spread of COVID-19. Due to manpower and raw material scarcity, the energy sector has seen decreased production outputs and financial losses.
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Market Segments Analysis:
Biochemical to Hold Dominant Market Share Due to Crucial Role in Reducing Waste
Based on technology, the market includes two major technologies, biochemical and thermochemical. In biochemical technology, the anaerobic digestion technology has wide acceptance for biogas production.
Municipal Solid Waste Dominates Market Due to Rising Consumption of Goods
Based on waste type, the market is segmented into municipal solid waste, process waste, agricultural waste, and others.
Municipal solid waste holds a dominating market share owing to higher waste generation from households, offices, shops, schools, hospitals, hotels, and other institutions.
Huge Electricity Production from Waste Results in the Dominating Share of Electricity Application
Based on application, the market is bifurcated into electricity and heat. Increasing electricity from clean energy sources to reduce the dependency on fossil fuels and reduce CO2 emission results in high electricity output from waste sources.
The market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
By Technology
- Thermochemical
- Biochemical
By Waste Type
- Municipal Solid Waste
- Process Waste
- Agriculture Waste
- Others
By Application
- Electricity
- Heat
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Report Coverage:
In order to determine immediate investment advantages, the research includes a comprehensive analysis of the global market together with current trends and future expectations. The report also includes a thorough examination of any potential possibilities, dangers, rivalries, or driving forces. A complete, step-by-step study of the region is provided.
Regional Insights:
Asia Pacific to Lead Backed by Encouraging Government Policies Regarding Garbage Management
The market is dominated by the Asia Pacific region as a result of rising economic activity and rising garbage generation. Additionally, the fact that numerous governments are encouraging the construction of waste to energy facilities will lead to Asia Pacific having the largest waste to energy market share during the anticipated time period.
Europe holds a well-developed market and stands on the second rank after the Asia Pacific region, due to the presence of several waste to energy facilities and plants, as well as rising energy production and valuable materials for recycling from municipal solid trash.
Furthermore, due to considerable waste creation and a growing emphasis on waste management, North America will account for a sizeable portion of the market during the projection period.
Competitive Landscape:
Partnerships among Companies to Reinforce their Brand Values in the Global Market
Market leaders regularly choose efficient tactics to advertise their goods and fortify their positions in the industry. One such tactic is to collaborate with other businesses to launch new products der to reach more end-users.
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List of Key Players Mentioned in the Report:
- Veolia (France)
- Huawei Enterprise (China)
- China Everbright Limited (China)
- Wheelabrator Technologies Inc. (New Hampshire)
- SUEZ (Paris)
- Covanta (U.S.)
- EDF (France)
- Ramboll Group (Denmark)
- AVR (Rotterdam-Botlek)
- Allseas (Switzerland)
- Attero (India)
- Viridor (U.K.)
Scope of the Report:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions & Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition etc.
- Latest Technological Advancement
- Insight on Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on Waste to Energy Market
- Global Waste to Energy Market Analysis (USD Billion), Insights, and Forecast, 2018-2029
- Key Findings
- Market Analysis, Insights and Forecast – By Technology
- Thermo-chemical
- Biochemical
- Market Analysis, Insights and Forecast – By Waste Type
- Municipal Solid Waste
- Process Waste
- Agriculture Waste
- Others
- Market Analysis, Insights and Forecast – By Application
- Electricity
- Heat
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Waste to Energy Market Analysis (USD Billion), Insights, and Forecast, 2018-2029
- Key Findings
- Market Analysis, Insights and Forecast – By Technology
- Thermo-chemical
- Biochemical
Continued...
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