Hyderabad, July 27, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Waste-to-Energy (WTE) Market Report (2023-2028)," the market is estimated at USD 54.40 billion in 2023. It is expected to register a CAGR of 7.35% during the forecast period.
Waste-to-energy plants burn MSW (municipal solid waste), also known as trash, to convert it into steam in a boiler. This is then used to provide power to an electric generator turbine. MSW refers to composite formed from dense energy products like paper, plastic, and wooden items.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 54.40 billion |
| Market Size (2028) | USD 77.55 billion |
| CAGR (2023-2028) | 7.35% |
| Study Period | 2019-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The increasing preference for non-fossil fuel sources of energy. |
| The growing concern for waste management. |
Which are the Top Companies in the Waste-to-Energy (WTE) Market?
The waste-to-energy (WTE) market is highly fragmented, with established players making substantial investments in improving their businesses. Market players are implementing strong competitive strategies like partnerships to sustain themselves in the competitive market.
Notable players in the waste-to-energy (WTE) market are,
- Mitsubishi Heavy Industries Ltd
- Waste Management Inc.
- A2A SpA
- Veolia Environnement SA
- Hitachi Zosen Corp
- MVV Energie AG
- Martin GmbH
- Babcock & Wilcox Enterprises Inc.
- China Jinjiang Environment Holding Co. Ltd
- Suez Group
- Xcel Energy Inc.
- Wheelabrator Technologies Holdings Inc.
- Covanta Holding Corp.
- China Everbright Group
Other Reports That Might Be of Your Interest:
- Austria Waste-to-Energy Market Report - The Austrian waste-to-energy market is expected to register a CAGR of more than 3.00% during the forecast period (2023-2028).
- China Waste-to-Energy Market Report - The Chinese waste-to-energy market is expected to register a CAGR of more than 4.75% during the forecast period (2023-2028).
Key Highlights from the Waste-to-Energy (WTE) Market Report:
Thermal-based Waste-to-Energy Segment to Register Maximum Growth
- Thermal technology is expected to register the highest market share due to the increasing improvement of waste incineration facilities worldwide.
- Plants using thermal power cogeneration and electricity may reach optimum efficiency of 80%. Incineration plants are now using process units to clean the flue gas stream to reduce safety risks, thus improving environmental sustainability.
Asia-Pacific to Gain Maximum Growth
- Asia-Pacific has been witnessing significant development in the WtE industry, owing to governments’ adoption of better MSW management practices, thus launching incentives for WtE projects by providing capital subsidies and feed-in tariffs.
- Japan is one of the leading markets for WtE in Asia-Pacific. The country’s national and local governments are driving the market by practicing efficient solid waste management methods and financially supporting related projects.
What are the Latest Developments in the Waste-to-Energy (WTE) Market?
- In April 2023, Egypt received a USD 120 million contract to design, develop, and manage its first solid waste-to-electricity facility. The Abou Rawash, Giza, plant is expected to convert 1,200 metric tons of solid waste from households to power per day, as per Egypt Vision 2030.
- In January 2023, Lostock Sustainable Energy Plant gave Babcock & Wilcox a contract to deliver the power train for a WtE plant near Manchester, United Kingdom. The plant is expected to produce more than 60 MW of energy and process 600,000 metric tons of garbage annually.
Mordor Intelligence has Segmented the Waste-to-Energy (WTE) Market Based on Technology and Geography:
- By Technology (Market Size and Forecast based on Value (USD billion), 2019-2028)
- Physical
- Thermal
- Biological
- By Geography (Market Size and Forecast based on Value (USD billion), 2019-2028)
- North America
- United States
- Canada
- Rest of North America
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Europe
- United Kingdom
- France
- Germany
- Italy
- Rest of Europe
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Waste-to-Energy (WTE) Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- United States Waste-to-Energy Market Report - The US waste-to-energy market is expected to register a CAGR of over 7.26% during the forecast period (2023-2028).
- Brazil Waste-to-Energy Market Report - The Brazilian waste-to-energy market us expected to register a CAGR of over 5.00% during the forecast period (2023-2028).
- North America Waste-to-Energy Market Report - The North American waste-to-energy market is expected to register a CAGR of more than 7.50% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
