Pune, Sept. 27, 2023 (GLOBE NEWSWIRE) -- “The Waste to Energy Market as per the SNS Insider report, achieved a valuation of USD 33.68 billion in 2022 and is projected to reach USD 48.63 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period spanning from 2023 to 2030.”
Market Overview
Waste-to-energy (WTE) is a sustainable and innovative approach to managing and disposing of solid waste while simultaneously generating electricity or heat. This process harnesses the energy content of various types of waste materials, such as municipal solid waste (MSW), industrial waste, agricultural residues, and even hazardous waste, to produce usable energy. It is an eco-friendly solution that addresses two critical challenges: waste management and the demand for clean energy.
Market Analysis
The waste to energy market is experiencing significant growth driven by a combination of factors. As the global population continues to grow, so does the amount of waste generated. This presents a continuous stream of feedstock for waste-to-energy facilities, ensuring a consistent supply of raw materials for energy production. Increasingly stringent environmental regulations worldwide are compelling governments and businesses to seek sustainable waste disposal solutions. Waste-to-energy technologies offer a cleaner and more efficient alternative to landfilling, reducing greenhouse gas emissions and mitigating the environmental impact of waste. Many countries have set ambitious renewable energy targets to combat climate change. Waste-to-energy technologies align with these goals as they convert non-recyclable waste into clean energy, reducing the carbon footprint and supporting the transition to a low-carbon economy.
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Major Players Listed in this Report are:
The major players are Suez, Veolia, Covanta Holding Corporation, Hitachi Zosen Inova AG, China Everbright International Limited, Wheelabrator Technologies Inc, Ramboll Group A/S, EDF, Allseas, Babcock & Wilcox Enterprises, Inc., Xcel Energy Inc., and other players
Waste to Energy Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 33.68 Bn |
| Market Size by 2030 | US$ 48.63 Bn |
| CAGR | CAGR of 4.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Waste to Energy Market Study
- The agriculture waste segment is poised to play a pivotal role in dominating the market in the coming years. This is not just a consequence of the growing global population, but also a reflection of the increasing awareness about sustainable waste management practices.
- The electricity segment within the market is poised for significant growth. The global demand for electricity continues to escalate as economies grow and urbanization increases. Waste-to-energy facilities that generate electricity provide a reliable and sustainable source of power to meet this escalating demand.
Recent Developments
- Energy Infrastructure Limited (EIL) has taken a significant step towards sustainable and eco-friendly energy solutions with the recent signing of an agreement to develop 'Waste to Energy' and bio-methanation projects. These projects are not just about generating energy but also creating opportunities for sustainable development and employment in the communities where they are implemented.
- In a significant development for the waste-to-energy sector, a China government-linked unit has committed a substantial investment of RM15 billion in a strategic partnership with Citaglobal. This collaboration marks a major step forward in addressing the growing global issue of waste management while simultaneously harnessing the potential for clean and sustainable energy production.
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Market Dynamics Analysis
“Rising Waste Generation and Increasing Environmental Regulations”
The waste-to-energy market is characterized by a dynamic interplay of drivers, restraints, challenges, and threats that shape its trajectory. On the driver's side, the increasing global population and urbanization have led to a surge in waste generation, creating a pressing need for sustainable waste management solutions. Furthermore, growing environmental concerns and stringent regulations aimed at reducing landfill usage and greenhouse gas emissions are propelling the adoption of waste-to-energy technologies. Additionally, the potential for energy recovery from waste materials and the diversification of energy sources contribute to the market's growth. However, this promising landscape faces several restraints, such as high initial capital costs and concerns over emissions and air quality. Challenges include the efficient sorting and processing of heterogeneous waste streams and public perception issues related to incineration. Furthermore, threats like market competition and the need for continuous technological advancements to meet evolving environmental standards add complexity to the market, requiring stakeholders to navigate a complex web of factors to ensure its sustainable growth.
Waste to Energy Market Key Segmentation:
By Technology
- Biochemical
- Thermal
- Gasification
- Pyrolysis
- Incineration
By Waste Type
- Agriculture Waste
- Process Waste
- Municipal Solid Waste
- Others
By Application
- Heat
- Fuel
- Electricity
Key Regional Developments
North America has seen a steady rise in WTE projects due to stringent environmental regulations, growing waste volumes, and the need for sustainable energy sources. The increasing focus on reducing landfill use and greenhouse gas emissions has further boosted the growth of the waste to energy market in this region. Europe is a mature market for waste-to-energy technologies, with countries like Sweden, Denmark, and Germany leading the way. The European Union's ambitious sustainability goals have accelerated the adoption of WTE solutions, emphasizing the circular economy and reducing landfill waste. The Asia-Pacific region is witnessing rapid urbanization and industrialization, leading to an increase in waste generation. Countries like China and Japan have invested heavily in WTE facilities to address both waste management challenges and energy demands.
Impact of Recession on Waste to Energy Market Growth
The ongoing recession has brought several challenges and uncertainties to the waste to energy market. While it has created obstacles related to funding, regulatory compliance, and waste generation, it has also spurred innovation and cost optimization efforts. The long-term impact will depend on how quickly the global economy recovers and the extent to which governments prioritize environmental and renewable energy initiatives in their post-recession strategies. Despite the challenges, the demand for sustainable waste management solutions remains, and the waste-to-energy sector may adapt and evolve to meet these demands in a changing economic landscape.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Waste to Energy Market Segmentation, By Technology
9. Waste to Energy Market Segmentation, By Waste Type
10. Waste to Energy Market Segmentation, By Application
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. Use Cases and Best Practices
15. Conclusion
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