According to Precedence Research, the global waste to energy market size is projected to be worth around US$ 85.18 billion by 2030 and expanding growth at a CAGR of 4.71% from 2022 to 2030.

Berlin, May 26, 2022 (GLOBE NEWSWIRE) -- The global waste to energy market size was valued at US$ 56.31 billion in 2021. The demand for the waste to energy plants is growing significantly across the globe owing to the rising volume of wastes generated from the industrial and the household sectors. The rising government initiatives to reduce the usage of conventional fuel in energy generation to curb the carbon and other greenhouse gases emission. The rising concerns regarding the climate change and deteriorating environmental conditions is bolstering the growth of the waste to energy market. The waste to energy plants can reduce one ton of greenhouse gases by utilizingone ton of solid waste processed into energy generation, as per the U.S. Environmental Protection Agency.

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Moreover, the rapidly growing global population is expected to boost the volume of waste generation in the foreseeable future. The global population is expected to reach over 9 billion by 2050. With the rising industrialization and rising urbanization, the demand for the waste to energy plants is expected to rise significantly. The rising government investments in laying down the foundation of waste to energy plants to dispose the municipal solid wastes is expected to propel the growth of the waste to energy market during the forecast period.

Report Highlights

• Based on the technology, the thermal segment accounted for 80% of the market share in 2021. This growth is mainly attributed to the eco-friendly nature of the thermal technology. Moreover, the ease of operation and simple process of generating energy through the thermal technology has led to the rapid adoption of the thermal technology in the global waste to energy market.
  
  

Scope of the Report

Report Attributes	Details
Market Size in 2021	USD 56.31 Billion
Revenue Forecast by 2030	USD 85.18 Billion
Largest Market	Europe
Fastest Growing Region	Asia Pacific
Companies Covered	Hitachi Zosen, Keppel Seghers, Covanta, Tenologies, Wheelabrator, Mitsubishi Heavy Industries, Foster Wheeler, Veolia Environment, China Everbright International, Xcel Energy, Plasco Energy, Green Conversion Systems

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Regional Snapshot

Europe accounted for around 41% of the market share and dominated the global waste to energy market in 2021. This growth is majorly attributed to the presence of huge number of waste to energy plants. Moreover, the presence of major market players such as EQT AB,        Veolia, Suez, and Ramboli Group A/S in Europe has significant contributions in the market growth. Further, the implementation of strict government regulations pertaining to the landfills, carbon emission, and environment protection has prominently contributed to the market growth in Europe.

North America was the second most dominating market in 2021. The Energy Information Administration states that approximately 14 billion kWh of electricity was generated using 29.5 million tons of municipal solid waste was utilized in around68 U.S. waste to energy plants in 2018. The presence of key market players along with the rising focus on the adoption of advanced and sustainable products has led to the growth of the North America waste to energy market.

Asia Pacific is expected to witness the highest CAGR during the forecast period. Asia Pacific is witnessing an increasing adoption of waste to energy plants owing to the rising pressure to dispose wastes and control carbon emission. The presence of huge number of industries and huge population leads to the generation of huge volume of wastes. Thus, the need for disposing wastes and promote environment protection is boosting the growth of the waste to energy market in Asia Pacific.

Market Dynamics

Driver

Rising demand for electricity from alternative sources

The rapidly surging global population is expected to boost the demands for the electricity. According to the United Nations, the global population is projected to reach 8.5 billion by 2030 and around 9.8 billion by 2050. The rising pollution levels owing to the usage of fossil fuels is forcing the government to use the alternative sources of energy to produce electricity. The rising population is expected to boost wastes and growing government initiatives to utilize alternative fuel sources are the major factors that are expected to drive the demand for the waste to energy plants during the forecast period.

Restraint

Low awareness in the underdeveloped economies

The lack of awareness regarding the waste to energy plants and the lack of financial capabilities to adopt the advanced technologies to produce electricity from wastes are the major factors that may hinder the growth of the market during the forecast period.

Opportunity

Growing residential and industrial units

The rapid industrialization and urbanization of the rural areas is boosting the volume of industrial and domestic wastes. The rising government initiatives to urbanize and electrify the rural areas is expected to drive the demand for the waste to energy plants in the forthcoming years. China is one of the major waste to energy producers in the globe owing to the growing needs for electricity, rapid urbanization, and rapid industrialization.

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Challenge

Lack of infrastructure

There is a lack of proper infrastructure in the underdeveloped economies to boost the energy generation from wastes. The lack of funds in the hands of government is a major factor that may restrict the growth of the waste to energy market.

Recent Developments

• In 2018, Acciona, S.A. developed Australia’s first large scale waste to energy plant.
  
  

Market Segmentation

By Technology

• Thermal
  • Incineration
  • Pyrolysis
  • Gasification
• Biological
  
  

By Form

• Steam
• Electricity
• Hot Water
  
  

By Application

• Treatment of  Waste
• Reduction of Waste Volume
• Generation of Energy
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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