The global waste-to-energy market is expected to reach a valuation of USD 43.75 billion in 2023 and is projected to grow to USD 88.96 billion by 2033, with a CAGR of 7.3% over the forecast period.
The market’s expansion is being fueled by increased demand for incineration processes and greater public investment in waste-to-energy projects. Additional factors contributing to this growth include a preference for efficient waste-to-energy conversion methods such as incineration, gasification, and pyrolysis, as well as biochemical treatments like aerobic and anaerobic digestion. Government policies and initiatives in several countries are also playing a key role in supporting the development of the waste-to-energy market.
The rising demand for the incineration process and increased public expenditure on waste-to-energy initiatives are expected to drive market growth. Furthermore, the market is predicted to experience a significant growth due to the factors such as:
- Consumer preference for efficient and convenient waste-to-energy conversion techniques like incineration, gasification, and pyrolysis.
- Consumer Preference for biochemical treatments such as aerobic and anaerobic digestion
- Supportive government policies have been instrumental in driving the waste-to-energy market. Moreover, several countries have implemented policy-level initiatives to foster the development of this market.
- In the United States, regulations under the Clean Air Act mandate the installation and operation of landfill gas collection and control systems in municipal solid waste landfills. As a result, around 256 billion cubic feet of landfill gas was collected at 327 landfills in the United States in 2020. This gas was utilized to generate around 10 billion kilowatt-hours (kWh) of electricity, accounting for around 0.3% of the total utility-scale electricity generation in the country.
- In March 2020, the MNRE updated the rules for its waste-to-energy program, introducing new guidelines that include municipal solid waste (MSW)-based projects. These additions are expected to drive market growth in India during the forecast period.
- Emerging waste-to-energy (WtE) technologies such as Hydrothermal Carbonisation (HTC) offer potential for market growth. Additionally, HTC accelerates the geothermal conversion of wet waste using an acid catalyst under high pressure and heat, generating hydrochar with fuel-like properties akin to fossil fuels.
Key Takeaways:
- Constant advancements in waste treatment technology generate market possibilities.
- By technology, the biological waste to energy segment is expected to dominate the market.
- The thermal waste to energy segment is predicted to account for 83% of the total market revenue in 2022.
- The European waste to energy (WTE) market is expected to reach a value of USD 16.5 Bn in 2022.
- The waste to energy market in North America will presumably grow at a 7.6% CAGR
Competitive Landscape
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 and others are some of the major players in the waste to energy market that are profiled in the full version of the report.
Leading market players are concentrating on increasing their investments in R&D activities to develop new technologies with advanced and variety of features. These businesses are also keen on mergers and acquisitions to expand their revenue stream.
Key Players Operating in the Industry:
- 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
- Covanta Holding Corporation
Key Segments Profiled in the Waste to Energy (WTE) Market Industry Survey:
By Technology:
- Thermal Waste to Energy (WTE) Technology
- Incineration
- Pyrolysis & Gasification
- Biological Waste to Energy (WTE) Technology
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/asia-pacific-waste-to-energy-market
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