Waste-to-Energy Market to Achieve 7% CAGR by 2025; Preference for Thermal Conversion Intact: Fairfield Market Research

LONDON, May 30, 2022 (GLOBE NEWSWIRE) -- An ascending energy demand, and contrastingly diminishing conventional energy resources drive the need for converting waste to energy as an alternative route to energy generation. Surpassing the valuation of US$25.7 Bn in 2020, the global waste-to-energy (WtE) market is poised for strong growth prospects between 2021 and 2025. The latest report of Fairfield Market Research opines that the market will continue to flourish in future as the renewables sector remains in the spotlight.

Key Highlights

• Global daily waste generation volume is likely to reach around 6 MT by 2025 end
• Waste-to-energy market is projected for a robust CAGR of more than 7% over the period of assessment
• Role of governments will remain crucial in the build-up of waste-to-energy market
  

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Tightening Regulatory Grip around MSW Management Benefits Market

Growing severity of concerns around landfills have added to the stringency of regulatory guidelines for municipal solid waste (MSW) management. The role of governments encouraging adoption of WtE route of energy generation in form of subsidies is likely to be instrumental to market expansion. With a greater number of municipalities worldwide considering waste-to-energy plant functionality to address waste generation concerns, the market is likely to tap into newer opportunities.

Thermal Conversion Sought-After

Thermal conversion is expected to remain preferred owing to its excellent ability to bring down waste weight by around 75%, and volume by almost 90%. Cost benefit is another advantage upholding adoption of incineration as a preferred WtE technology. However, considerably high initial capital investment remains an impediment to rapid market growth in addition to a constant threat in form of an economically more viable alternative, i.e., natural gas.

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Europe Leads in Terms of Installed WtE Capacity

The report reveals that Europe has been dominant in market in terms of waste-to-energy plants installed base, and the trend will continue through 2025. The region continues to gain from the government’s supportive regulatory framework. North America, led by the US, is also likely to be among the key markets based on rapidly growing installation of waste-to-energy plants across the region. Asia Pacific on the other side remains a highly attractive market as is witnessing increasing approvals for new waste-to-energy plant installations recently.

The key players are Suez Environment, Veolia, Covanta Holding Corporation, Keppel Corporation Limited, and China Everbright International Limited are the top players in global waste-to-energy market.

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