New York, NY, April 25, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Waste to Energy Market Share, Size, Trends, Industry Analysis Report, By Waste Type (Municipal Solid Waste, Process Waste, Agriculture Waste, and Others); By Technology; By Application; By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research analysis, the global waste to energy market size/share is anticipated to be valued at approximately USD 24.84 billion in 2022 and is projected to hit a revenue of around USD 48.13 Billion by 2032, at a CAGR of around 6.9% between 2023 and 2032.”
What is a Waste of Energy? What is the Expected Size & Share Outlook for Waste to Energy Market?
- Overview
Waste to energy or WTE is a method that uses waste conversion technologies to convert non-recyclable waste into usable heat, fuels, and electricity. In WTE, the energy can be generated through a number of processes, such as gasification, pyrolysis, incineration, landfill gas recovery, and anaerobic digestion. The phrase WTE is frequently used to refer specifically to incineration, which uses extremely high temperatures to burn totally combusted waste while allowing for energy recovery.
Waste to energy emits less carbon dioxide (CO2) compared to power plants and produces less greenhouse gas emissions compared to landfilling. Thus, it provides superior economic and environmental benefits. This is one of the major factors driving the waste to energy market size. However, proper regulation and oversight are necessary to ensure that WTE facilities operate safely and minimize their environmental impact.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Abu Dhabi National Energy
- Babcock & Wilcox Enterprises.
- Covanta Holding Corporation
- China Everbright International
- Future Biogas
- Hitachi Zosen Inova
- Keppel Corporation
- Ramboll Group
- STEAG
- Gazasia SUEZ
- Veolia
- Wheelabrator Technologies
- Xcel Energy
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Key Growth Driving Factors
- Rising energy demands: Increasing energy demands from the end-use industry worldwide as a result of the growing population, rapid industrialization, and urbanization. Rise in focus on generating energy from renewable sources is expected to propel the waste to energy market growth during the forecast period.
- Stringent government regulations: The implementation of environmental rules aimed at reducing carbon emissions from the use of fossil fuels is predicted to fuel market growth. Also, favorable policies promoting proper waste disposal combined with energy production support the waste to energy industry growth.
- Increasing waste generation: The global population is growing, and with it, the amount of waste generated is also increasing. This trend is expected to continue, driving demand for effective waste management solutions, including WTE.
- Sustainable electricity generation through Waste to energy: Waste to energy generates dependable, clean electricity from a sustainable fuel source, reducing dependency on fossil fuels, which increases GHG emissions. This is expected to contribute to the industry's growth.
Top Findings of the Report:
- The introduction of environmentally friendly waste-to-energy technologies that curb carbon dioxide and greenhouse gas emissions is boosting market growth.
- The market is segmented based on technology, waste type, application, and region.
- The demand in Europe is anticipated to register significant growth.
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Top Trends Influencing the Market
- The Asian Development Bank's (ADB) Waste-to-Energy (WtE) circular study report, published in 2019, estimated that by 2050, the global municipal solid waste (MSW) generation is projected to increase to 3.4 billion tonnes per year, up from the current 2.01 billion tonnes per year. This increase in MSW generation is attributed to urbanization, population expansion, and economic development, particularly in Asia and the Pacific region. This will ultimately accelerate the waste to energy market demand.
- The increasing amount of waste generated globally is expected to have a significant impact on the waste-to-energy (WtE) market. For instance, the World Bank has predicted that the amount of waste generated per day will reach 6 million tonnes by 2025, which is almost double the current level.
- Hanoi, the capital city of Vietnam, has set a target in July 2022 to convert a minimum of 80% of its household solid waste into electricity by 2025. The city has received six proposals for projects that have a combined waste-handling capacity of approximately 10,500 tonnes.
Segmental Analysis
- The thermal segment is anticipated to generate the fastest growth over the forecast period
Based on the technology segment waste to energy market segmentation, the thermal category is expected to show the fastest growth during the anticipated period. This growth can be attributed to the increasing research and adoption of thermochemical waste-to-energy generation methods such as combustion or incineration, gasification, and pyrolysis. Also, initiatives conducted by various governmental organization to encourage the use of thermochemical waste-to-energy technology is expected to foster segment growth.
- The municipal solid waste segment industry held the largest waste to energy market share in 2022
By waste type, the municipal solid waste category is predicted to witness the major revenue share throughout the foreseen period owing to a surge in industrialization which has led to an increase in the production of municipal solid garbage. Municipal solid waste contributes an excessively high amount of market share due to the rising trash generation from residences, workplaces, businesses, retail establishments, educational institutions, healthcare facilities, hotels, and other organizations. Furthermore, agriculture waste also accounts for a significant share as it is majorly utilized in the gasification and pyrolysis processes.
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Waste to Energy Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 48.13 Billion |
| Market size value in 2023 | USD 26.47 Billion |
| Expected CAGR Growth | 6.9% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises Inc., Covanta Holding Corporation, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Future Biogas Limited, Hitachi Zosen Inova AG, Keppel Corporation Limited, Ramboll Group A/S, STEAG GmbH, Gazasia Ltd, SUEZ, Veolia, Wheelabrator Technologies Inc., and Xcel Energy Inc. |
| Segments Covered | By Technology, By Waste Type, By Application, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
Europe: Favorable regulations, including carbon fees, landfill charges, and direct subsidies for waste-to-energy facilities, are some of the key factors accelerating the market growth in the region. The growing population and increased need for clean, energy-efficient energy are expected to propel the waste market in the coming years. For instance, in February 2022, Veolia became the first company to establish a synthetic e-fuel manufacturing facility in Europe was Veolia. In addition, the availability of funding for energy conservation and efficiency projects in the European Union is another factor boosting the regional waste to energy market expansion.
Asia Pacific: Waste to energy market in the Asia Pacific region is predicted to grow due to the increasing government initiatives, including spending on wastewater treatment facilities, having big businesses help with trash treatment, and renewable energy initiatives. For instance, in April 2022, A new contract for the treatment of industrial wastewater was awarded to SUEZ in an effort to further the socioeconomic progress and general standard of living in Changshu, China. The project, which is located in Changshu Economic and Technological Development Zone, has a total cost of 37 million euros.
Browse the Detail Report “Waste to Energy Market Share, Size, Trends, Industry Analysis Report, By Waste Type (Municipal Solid Waste, Process Waste, Agriculture Waste, and Others); By Technology; By Application; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/waste-to-energy-market
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Recent Developments
- In June 2022, Veolia cements its position as a global leader in ecological transformation through the purchase of Suez's U.K. waste business. The acquisition will accelerate the company's Impact 2023 initiative, expand its global reach and increase its innovation capacity.
- In April 2022, Viridor announced that Frank Solutions would buy its landfill and landfill gas assets. As part of the arrangement, 44 sites will be operated and managed throughout the United Kingdom.
Key Questions Answered in The Report
- Who are the key players in this market?
- What’s their company profile, product information, and contact information?
- What was the market status?
- What will be market share, supply, and consumption?
- What is market chain analysis by upstream raw materials and downstream industry?
- What are the market dynamics of the market?
- What are the challenges and opportunities?
- What are some of the other regions that are rising at promising CAGR?
Polaris Market Research has segmented the waste to energy market report based on technology, waste type, application, and region:
By Technology Outlook
- Thermal
- Incineration
- Pyrolysis
- Gasification
- Biological
- Others
By Waste Type Outlook
- Municipal Solid Waste
- Process Waste
- Agriculture Waste
- Others
By Application Outlook
- Electricity
- Heat
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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