Waste To Energy Market Trend, Share, Growth, Size, Analysis and Forecast 2028

Waste To Energy Market

Waste To Energy Market Size, Share & Industry Analysis, By Technology (Thermochemical, Biochemical), By Waste Type (Municipal Solid Waste, Process Waste, Agricultural Waste, Others), By Application (Electricity, Heat) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 - 2028

Category: Energy & Mining Report Format : PDF Pages: 172 Report Code: ZMR-187 Published Date: Mar-2022 Status : Published
Market Size in 2021 Market Forecast in 2028 CAGR (in %) Base Year
USD 32.90 Billion USD 48.54 Billion 6.7% 2021

Global Waste to Energy Market Industry Prospective:

The global waste to energy market was worth around USD 32.90 billion in 2021 and is estimated to grow to about USD 48.54 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.7 percent over the forecast period. The report analyzes the waste to energy market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the waste to energy market.

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Waste to Energy Market: Overview

The demand for energy has evolved in the past decade and in the wake of changing climate conditions we are expected to see innovative sustainable ways to fulfill our energy demands in the near future. Increasing focus on climate change and increasingly stringent mandates to effectively manage waste are expected to be major drivers for the waste to energy market growth through 2028.

Waste to energy is anticipated to be a prominent trend in the forecast period as it solves the problem of waste management and energy generation at the same time with minimal impact on the environment and meets sustainability goals.

Increasing focus on environment conservation, favorable government subsidies, rising focus on sustainability, and increasing popularity of renewable energy are prominent trends that are projected to drive the waste to energy market potential through 2028.

In this growing world, non-renewable energy sources are moving towards extinction and many global concerns have arisen such as global warming and greenhouse effect. Therefore, there is a need to generate an alternate unconventional energy source which can be considered as a significant alternative for the existence of the future. Waste to energy is the process where various technologies are used for the conversion of non-recyclable waste into energy. The energy includes various forms such as electricity, heat, and also produces combustible fuels such as ethanol, methanol, and others. The various technologies processing on waste include pyrolysis, incineration, gasification, anaerobic digestion, and landfill gas recovery, among others. The waste includes both biomass and non-biomass material such as plastic waste, food waste, and paper & paperboard, among others. Waste to energy management plays a significant role in waste disposal infrastructure of any nation. 

Rising population which, in turn, has lead to an increase in the generation of waste is the strong factor prominently increasing the demand for the waste to energy market. Moreover, supportive government initiatives and stringent regulations regarding the waste disposal is also a considerable factor driving the growth of the waste to energy market during the forecast period. In addition to this, rising technological advancement in waste disposal processes is also bolstering the market growth. However, high installation and maintenance cost are certain factors hampering the growth of the market.

COVID-19 Impact:

In 2020, as coronavirus infections spread through the world and created a crisis situation multiple markets were adversely impacted and this also had a negative impact on the waste to energy market. Restricted outdoor activity hampered waste to energy operations at multiple sites and lack of effective management labor also restrained the waste to energy market growth in 2020.

The pandemic hampered market potential by shutting down multiple plants across the world and it also restricted research and development activities across the world which are crucial to waste to energy market growth as the technologies are still in their nascent stages and need space for development to enhance efficiency and give maximum output.

The waste to energy market growth is expected to see a steady rise in the post-pandemic era as the world returns to normal and we see a substantial increase in focus on reducing the carbon footprint. Increasing demand for clean energy is expected to be a major trend in the post-pandemic era.

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Waste to Energy Market: Growth Drivers

Increasing Demand for Clean Energy

The demand for energy from multiple end-use verticals is paramount and has never been higher and increasing concerns about the harmful impacts of conventional energy generation methods have promoted the use of clean energy generation methods. The world is also grappling with waste management and waste to energy solves these two issues with minimal environmental impact and hence has seen a rise in popularity. Stringent mandates to adopt clean energy and effective waste management are two major factors driving waste to energy market growth through 2028

Waste to Energy Market: Opportunities

Increasing Stringent Government Mandates for Waste Management and Energy Generation

Governments across the world have been implementing stringent and strict mandates to reduce waste and reduce their carbon footprint and this is expected to provide lucrative opportunities for waste to energy market growth on a global scale. Rapid technological advancements in waste to energy technology and increasing demand from consumers for clean energy are expected to further bolster waste to energy market potential through the forecast period.

Waste To Energy Market: Report Scope

Report Attributes Report Details
Report Name Waste To Energy Market
Market Size in 2021 USD USD 32.90 Billion
Market Forecast in 2028 USD USD 48.54 Billion
Growth Rate CAGR of 6.7%
Number of Pages 172
Key Companies Covered Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises, Inc., and Veolia Environment.
Segments Covered By Technology and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2022 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Waste to Energy Market: Segmentation

By Technology Analysis

Biochemical to Hold Dominant Market Share Due to Crucial Role in Reducing Waste

Based on technology, the market is divided into biochemical and thermochemical. In biochemical technology, the anaerobic digestion technology has wide acceptance for biogas production. The growing trend of electricity production through biomass will likely result in the dominance of biochemical technology in the global waste to energy market share. In June 2018, the EU institutions agreed on a new Renewable Energy Directive for the next decade, including a legally-binding EU-wide target of 32% for renewable energy by 2030, in which the biogas sector will undoubtedly contribute to achieving this goal.

Furthermore, in thermochemical technology, incineration holds a significant share of WtE technology compared to other thermochemical technology such as thermal technology. This trend will likely continue owing to relatively low technology costs, market maturity, and high efficiency of about 25%. In addition, incineration is suitable in urban and rural areas and takes in all types of waste.

By Waste Type Analysis

Municipal Solid Waste Dominates Market Due to Increasing Consumption of Goods

Based on waste type, the market is segmented into municipal solid waste, process waste, agricultural waste, and others.

Municipal solid waste holds a dominating share of this market owing to higher waste generation from households, offices, shops, schools, hospitals, hotels, and other institutions. In addition, process waste is produced mainly due to industrial activities and has surged over time due to rise in industrial activities. However, government entities such as the U.S. Environmental Protection Agency (EPA) have set up a framework that focuses on re-using the waste produced as raw material, which is likely to promote the re-use of waste produced from industrial processes.

Furthermore, agricultural waste also holds a significant share of the WtE conversion due to its considerable adoption in the gasification and pyrolysis process. In the waste to energy market forecast timeframe, the increase in waste from residues and agricultural production will likely drive the waste to energy market growth from agricultural waste. Other waste types, such as manure waste, waste from silts, pesticides, herbicides, and so on are also adopted for energy conversion.

By Application Analysis

High Electricity Production from Waste Results in Dominating Share of Electricity Application

Based on application, the market is bifurcated into electricity and heat. Increasing electricity from clean energy sources to reduce the dependency on fossil fuels and reduce CO2 emission results in high electricity output from waste sources.

The generation of usable heat from waste is widely used for various heating purposes across residential and industrial areas and also holds a significant market share. The generation of heat as a byproduct of energy from waste with additional earnings results in the remarkable growth of WtE for heat generation applications.

Recent Developments

  • In February 2022 – Stenergy revealed plans for a new state-of-the-art food waste plant in Worcestershire and is expected to majorly revolutionize the green goals in this region. The 30-million-euro food waste to biomethane plant will be established on the former site of Worcestershire College of Agriculture.
  • In March 2022 – McCulla created a novel waste to energy solution to power its transportation fleet. This is done by using their existing anaerobic digestion plant to produce compressed biomethane and use it as a biofuel.

Regional Landscape

The market for waste to energy in Europe is expected to have a bright outlook owing to the increasing need for energy and increasingly strict government mandates for effective waste management. Rising consumer awareness, favorable regulatory mandates, and subsidies from the government are also expected to boost waste to energy market growth through 2028 in the European region.

The North America waste to energy market is expected to account for a prominent market share and the growth in this region can be attributed to increasing focus on environmental protection and combating climate change issues. The major contributor to this region is expected to be the United States where the government’s emphasis on reducing carbon footprint and clean energy generation is increasing.

The Asia Pacific region is anticipated to rise at the fastest CAGR of all regions and the demand is prominently expected to be driven by economies like China, Japan, and India. Supportive government initiatives, increasing investments in clean energy generation, and rising consumer awareness are expected to be major factors influencing waste to energy market growth through 2028.

Competitive Landscape

Some of the main competitors dominating the global waste to energy market include -

  • Waste Management Inc.
  • Suez Environment S.A.
  • C&G Environmental Protection Holdings
  • Constructions industrielles de la Méditerranée (CNIM)
  • China Everbright International Limited
  • Covanta Energy Corporation
  • Foster Wheeler A.G.
  • Abu Dhabi National Energy Company PJSC
  • Babcock & Wilcox Enterprises
  • Veolia Environment.

Global waste to energy market is segmented as follows:

By Technology

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Rising demand for clean energy, stringent regulations for waste management, and supportive government initiatives are some major trends that guide waste to energy market growth.

 

According to the Market Research report, the global waste to energy market was worth about US$ 32.9 billion in 2021 and is predicted to grow to around US$ 48.54 billion by 2028, with a compound annual growth rate (CAGR) of around 6.7 percent.

The market for waste to energy in Asia pacific is expected to have a bright outlook owing to the rise in demand for clean energy and favorable government policies to boost waste to energy market growth.

Some of the main competitors dominating the global waste to energy market include -- Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises, Inc., and Veolia Environment.

 

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