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Waste to Energy Market Trends – Increasing adoption of biological technology

VANCOUER, BC, CANADA, June 12, 2023/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.

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Waste to Energy Market Size – USD 35.80 billion in 2019, Market Growth - CAGR of 5.7%, Market Trends – Increasing adoption of biological technology

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The report also presents the country-wise and region-wise analysis of the Emergen Research and includes a detailed analysis of the key factors affecting the growth of the market.

Some Key Highlights in the Report :

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.

The Biogas plants are a significant contributor to the biological segment's growth as it is a low-cost technology and helps to curb down the levels of greenhouse gases & carbon emissions.

Europe accounted for the largest market share of the Waste to energy market in 2019 due to the presence of major market players in the region and the government's favorable regulatory policies and subsidies.

Some major companies in the global market report include 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.

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Segments Covered in this report are:

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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Regional Segmentation:

North America
Latin America
Europe
Middle East & Africa
Asia Pacific

Market Segmentations of the Waste to Energy Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Waste to Energy Market on the basis of product, application, and region:

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