Global Waste to Energy Market Is Likely To Grow At A CAGR Value Of Around 6.7% By 2028

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 digital remittance 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 digital remittance market.

Energy generation in the most environment-friendly manner is a prime focus on the modern world as we battle the climate emergency that is affecting the world in the most irreversibly adverse ways. The world has seen a substantial increase in waste generation but the lack of proper waste management and disposal systems has created a major waste crisis.  

Waste to energy technology solves this crisis in the most environment-friendly manner and gives the world a fighting chance against climate change. Governments across the world are implementing strict regulations to manage waste and conserve the environment. In order to meet the increasing demand for clean energy, waste to energy technology has gained major impetus and this is expected to drive waste to energy market growth through 2028.

The rising population across the world has boosted demand for energy on a massive scale and waste to energy is expected to address this demand while conserving the environment and reducing carbon footprint. Government subsidies, rapid advancements in waste to energy technology, and growing awareness are expected to be significant trends governing waste to energy market growth over the forecast period.

Waste to energy companies could capitalize their gains by acquiring direct government subsidies and can expand their revenue generation potential by targeting untapped markets with high subsidies and government support.

The COVID-19 pandemic adversely affected the waste to energy market growth and set it back a year in technology development. The lockdown restrictions hampered waste to energy plant operations on a global scale and disruptions to demand and supply chain made it all the more difficult to manage these plants. The market is expected to make a steady comeback in the post-pandemic era as the world returns to normal operating procedures. The research and development activities are expected to boost advancements in technologies and we are expected to see some novel innovative solutions for waste to energy goals across the world.

Browse the full “Waste To Energy Market By Technology (Thermal, Incineration, Pyrolysis, Gasification, Biochemical, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/waste-to-energy-market

The global waste to energy market is segregated based on technology and region. Based on technology, the global market is distinguished into thermal, incineration, pyrolysis, gasification, biochemical, and others. The thermal segment held a dominant revenue share and is anticipated to have a bright outlook over the forecast owing to its relatively simple nature of operation. The biochemical segment is set to rise at the fastest CAGR owing to rising research and development activity for technology across the world.

Asia Pacific region is expected to provide a highly lucrative setting for waste to energy market growth and is projected to rise at the fastest CAGR over the forecast period. Favorable government policies, direct subsidies, strict waste management regulations, and increasing advancements in waste to energy technologies are expected to majorly influence waste to energy market growth in this region. Europe is expected to emerge as a dominant region over the forecast period owing to its high focus on sustainability and the presence of key waste to energy companies coupled with increasing government support to reduce its carbon footprint.

Key players functioning in 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.

Recent developments:

• In January 2022, BMC attained Environment Clearance (EC) from the Union Ministry of Environment, Forest and Climate Change for the first-ever waste to energy plant in Mumbai and is now waiting for the final approval from Maharashtra Pollution Control Board (MPCB). The proposed plant is expected to have a 600 metric tons per day capacity while costing the nation a whopping 504 crore rupees.

Global waste to energy market is segmented as follows:

By Technology

• Thermal
• Incineration
• Pyrolysis
• Gasification
• Biochemical
• Others

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

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