Increasing Global Demand For Waste To Energy Market With Rising CAGR Forecast Till 2027

Posted by Mrudula Anil Karmarkar on June 16th, 2023

San Francisco, 16 June 2023: The Report Waste To Energy Market Size, Share & Trends Analysis Report By Technology (Thermal (Incineration, Gasification, Pyrolysis), Biological), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts To 2027

The global waste to energy market size is expected to reach USD 54.8 billion by 2027, ascending at a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research, Inc. Growing power demand from end-use industries along with favorable regulatory policies regarding waste disposal and utilization for clean energy are likely to strengthen the market over the forecast period.

Governments are emphasizing on the development of alternate energy production sources such as Waste to Energy (WTE) plants owing to surging power demand along with the rapid depletion of conventional energy sources. In addition, increasing landfilling prices and limited space are among the primary factors responsible for driving the market over the forecast period.

Asia Pacific economies such as China have become high potential markets for waste-to-energy technologies owing to the generation of industrial waste at a huge level. Moreover, Japan is expected to follow a more aggressive approach than China regarding the implementation of WTE technology across the country. It aims to provide combination packages including additional services such as waste reduction, waste sorting, and recycling. These trends are anticipated to positively influence the market over the forecast period.

Industry players are emphasizing on technological advancements and innovations in order to reduce the technology cost associated with waste-to-energy plants, boosting the commercialization of WTE technology. In addition, market participants practice vertical integration in order to strengthen the services. Companies do a tie-up with municipal solid waste providers for the distribution of waste sources.       

Favorable regulatory policies encouraging proper waste disposal combined with energy production along with growing energy demands from the end-use sector are projected to play a vital role in the market growth over the forecast period. Governments are focusing on commercializing alternate sources of energy such as Waste to Energy (WTE) technology owing to the rapid depletion of conventional energy sources. In addition, the implementation of environmental policies regarding the reduction of carbon emissions from fossil-fuel usage is expected to further provide a boost to industry growth.

Access Research Report of Waste To Energy Market @https://www.grandviewresearch.com/industry-analysis/waste-to-energy-technology-industry

Waste To Energy Market Report Highlights

• The thermal technology segment occupied the largest market share in 2019 owing to the relatively simple process along with ease of operations during thermal conversion
• Incineration thermal technology is a major revenue contributor to the market. It offers several advantages such as waste volume reduction, limiting greenhouse gas emissions, and preserving energy
• The biological technology segment is projected to attain the highest CAGR over the forecast period owing to the consistent advancement of anaerobic decomposition technology
• Europe dominates the market owing to the presence of large market players across the region
• In Asia Pacific, the market is anticipated to escalate at the fastest CAGR owing to the potential growth opportunities in countries such as China and Japan.

List of Key Players of Waste To Energy Market

• Hitachi Zosen Inova AG
• Suez
• Covanta Holding Corporation
• China Everbright International Limited
• Veolia
• Abu Dhabi National Energy Company PJSC
• Ramboll Group A/S
• Babcock & Wilcox Enterprises, Inc.
• Wheelabrator Technologies Inc
• Xcel Energy Inc.

Access Press Release of Waste To Energy Market@ https://www.grandviewresearch.com/press-release/global-waste-to-energy-wte-market