Waste To Energy Market Trend, Share, Growth, Size, Analysis and Forecast 2030

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.

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.

Global Waste to Energy Market: Segmentation

The global waste to energy market is segregated based on technology and region.

By Technology, the market is divided into thermal, incineration, pyrolysis, gasification, biochemical, and others. The thermal segment accounted for the highest revenue share in the global marketplace in 2019 and is expected to be a prominent segment for the waste to energy market growth through 2028. The simplicity of thermal processes is what is propelling their popularity in the global waste to energy marketplace. Incineration is also efficient in lowering carbon emissions and also is a highly efficient way to create energy without creating a huge amount of waste.

Increasing advancements in biochemical waste to energy technology are expected to propel the popularity of this technology at the fastest CAGR through 2028. Increasing research and development activities and favorable government initiatives are major factors influencing the use of biochemical waste to energy technology.

Report Scope:

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, Inc., and Veolia Environment.

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