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Favorable regulatory policies of the government, the increasing amount of waste generated, and rising demand for electricity in the developing economies

VANCOUVER, BC, CANADA, July 20, 2022 /EINPresswire.com/ -- The global Waste to Energy Market will be worth USD 54.16 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the rapid urbanization and industrialization in the developing economies, along with increasing demand for cleaner sources of energy. The rising adoption of the renewable sources of energy among the industrial and transportation sectors is expected to drive the growth of the waste to energy market. The increasing need for sustainable urban living and minimization of the dependency on fossil-fuel power generation is projected to fuel the system's demand over the forecast period.

Limited availability for landfill sites and the steady growth of the cities have increased the adoption of waste-to-energy technologies. Growing initiatives of the government, such as the implementation of strict emission control measures, increasing investment for the development of technologically advanced waste to energy facilities, the imposition of landfill or carbon tax, are most likely to propel the market's growth over the forecast period. Technological advancements of the plants, such as innovations in combustions and boiler design, expansions of the waste to energy facilities, or enhancements in metal recovery systems, are most likely to propel growth opportunities for the industry.

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The Waste to Energy research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.

Key players involved in the market, such as Suez, Hitachi Zosen Inova AG, China Everbright International Limited, Covanta, Waste Management Inc., Veolia, Mitsubishi Heavy Industries Ltd, Xcel Energy Inc., Ramboll Group A/S, and Babcock & Wilcox Enterprises, Inc., among others as well as new entrants in the market. The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Key Highlights from the Report

In September 2019, Mitsubishi Heavy Industries Thermal Systems, Ltd., a group company of Mitsubishi Heavy Industries Ltd., entered into a joint venture with State Grid Energy Conservation Service Co., to perform services of technical consulting for energy conservation investment projects in China.

The thermal technology held the largest market share of 52.1% in 2019 due to the increasing development in the gasification and incineration technologies.

Incineration thermal technology is a key contributor to the growth of the thermal technology segment. It reduces the quantity of waste in landfills, prevents the production of methane gas from the landfills, and generates energy from waste. For example, countries with cold weather, like Sweden, generate 8% of their heating needs from waste incinerators.

The biological segment is forecasted to grow with the fastest CAGR of 5.8% over the forecast period due to the increasing demand for cleaner energy sources and the growing environmental concerns.

Emergen Research has segmented the global Waste to Energy Market on the basis of Technology, and region:

Technology Outlook (Revenue, USD Billion; 2017-2027)

Biological Technology

Biogas Plants

Landfill Gas

Fermentation

Thermal Technology

Pyrolysis

Incineration

Gasification

Physical Technology

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The report addresses the following key points:

The report estimates the expected market size from 2020-2027

The report provides a forecast of market drivers, restraints, and future opportunities for the Waste to Energy market

The report further analyses the changing market dynamics

Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth

Extensive competitive landscape mapping with profiles of the key competitors

In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies

Revenue forecast, country scope, application insights, and product insights

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Emergen Research
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