India, Pune, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The global waste to energy market size was valued at USD 32.15 billion in 2021 and is anticipated to expand from USD 33.28 billion in 2022 to USD 44.62 billion by 2029, marking a projected Compound Annual Growth Rate (CAGR) of 4.3% over the forecast period. These insights stem from Fortune Business Insights' report titled "Waste to Energy Market, 2022-2029."
Industry Development:
Covanta partnered with the Commonwealth of Massachusetts that is focused on reducing emissions amount at two of its provisions and enhancing accountability through constant online emissions tracking accessible to the public.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 4.3% |
| 2029 Value Projection | USD 44.62 Billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 33.28 Billion |
| Historical Data for | 20218-2020 |
| No. of Pages | 256 |
| Segments covered | Fuel Type, By End-User, Application and Region |
| Growth Drivers | Surging Application of Waste Management Services to Drive the Waste to Energy Market Growth |
| Municipal Solid Waste Dominates Market Due to Rising Consumption of Goods |
Market Drivers and Restraints:
Environmental Concerns:
Increasing awareness and actions towards reducing landfill waste and mitigating environmental impact drive the adoption of waste to energy solutions.
Energy Security:
The need for diversified energy sources and reducing dependence on non-renewable fuels fuels the demand for waste to energy solutions.
Technological Advancements:
Continuous innovation and technological improvements enhance the efficiency and viability of waste to energy processes, making them more attractive for investors.
Urbanization and Population Growth:
Rapid urbanization and population expansion lead to higher waste generation, prompting the need for efficient waste management solutions.
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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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.
| Segmentation | By Technology
|
By Waste Type
| |
By Application
|
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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.)
Table of Contents:
- 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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