The global waste to energy (WTE) market was anticipated at US$ 38 Billion in 2021, and is projected to rise to US$ 40.77 Billion in 2022. This technology is gaining wide recognition across the globe owing to the advanced growth in waste production along with rising demand for clean energy, thereby, garnering US$ 82.49 Billion in 2032, recording a CAGR of 7.3% from 2022-2032.
Government regulations that are strict in response to escalating greenhouse gas emissions will urge manufacturers of green technology to keep up with innovative technologies that will assist create cleaner energy, which will ultimately fuel market expansion.
Because of continual developments in waste treatment technologies, thermal technologies will command a sizeable market share for the conversion of waste to energy in the upcoming years. Waste is converted into usable heat or steam during thermal treatment, and this heat or steam is then used to turn a turbine and produce power.
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Key Takeaways from the Market Study
- In 2022, the European waste to energy market is expected to be valued at US$ 16.5 Billion
- The waste-to-energy market in the Asia Pacific is presumed to expand at a CAGR of 6%
- North America to experience a noteworthy CAGR of 7.6% during the 2022-2032 assessment period
- Demand for thermal waste to energy technology to remain prominent, comprising 83% revenue in 2022
- Global waste to energy market worth to more than double from 2022 to 2032
“Significant increases in power generation as a result of rapid urbanization and industrialization, as well as a greater emphasis on generating energy from renewable sources, are expected to be key drivers of the waste-to-energy market,” remarks an FMI analyst.
Competitive Landscape
Key players in the global Waste to Energy market include Veolia, Velocys, Biffa, Sims Limited, Stericycle, Keppel Seghers, Recology, Waste Connections, Xcel Energy, Hitachi Zosen Inova AG, China Everbright Environment Group Limited, JANSEN Combustion and Boiler Technologies, Wheelabrator Technologies, SUEZ, OMNI Conversion Technologies, WM Intellectual Property Holdings, and Covanta Holding Corporation among others. Key developments among players are:
- Fiberight announced in February 2019 that it would open a new advanced recycling facility in Hampden by April 2019. Using pulping and anaerobic digestion, the plant will break down materials and convert them into biofuel using high-tech processes.
- Veolia became the first company in Europe to establish a synthetic e-fuel production unit on February 17, 2022. The manufacturing unit was installed at LIPOR’s Energy Recovery Plant near Porto. Its cutting-edge technology configuration and design are expected to revolutionize the waste-to-energy industry while also decarbonizing the aviation sector.
- In July 2022, Biffa announced that it was selected for supervising the government of Scotland’s Deposit Return Scheme’s (DRS) official logistic provider. The agreement comes after several months of close collaboration between the organizations as they progress towards DRS going live in August 2023 and is expected to create around 500 jobs in Scotland to support the collection, sorting and counting of products within scope of the scheme.
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Key Segments Covered in the Waste to energy (WTE) Industry Survey
Waste to Energy (WTE) Market by Technology:
- Thermal Waste to Energy (WTE) Technology
- Incineration
- Pyrolysis & Gasification
- Biological Waste to Energy (WTE) Technology
Waste to Energy (WTE) Market by Region:
- North America Waste to energy (WTE) Market
- Europe Waste to energy (WTE) Market
- Asia Pacific Waste to energy (WTE) Market
- Middle East & Africa Waste to energy (WTE) Market
- South America Waste to energy (WTE) Market
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the waste to energy (WTE) market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of technology (biological and thermal), across five major regions (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
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