IMARC Group, a leading market research company, has recently releases report titled “Waste To Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global waste to energy market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Waste To Energy Market?
The global waste to energy market size reached US$ 41.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 59.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.99% during 2023-2028.
What is Waste To Energy?
Waste to energy (WTE) involves transforming non-recyclable waste materials into practical energy in the form of heat, fuel, or electricity. This transformation is achieved through several procedures, including combustion, gasification, devolatilization, anaerobic digestion, and landfill gas recovery. These systems and technologies are employed to generate electricity by incinerating unprocessed municipal solid waste in an incinerator equipped with a boiler and generator. Currently, WTE is viewed as an essential part of waste management systems since it aids in mitigating climate change, reducing greenhouse gas emissions, and minimizing environmental and health impacts.
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What are the growth prospects and trends in the waste to energy industry?
Currently, waste accumulating in landfills poses a significant environmental challenge as it triggers fires or explosions, pollutes soil and water, and contributes to climate change, toxin production, leachate, and GHG emissions. This issue, along with the rising yearly industrial waste output, propels the demand for WTE technologies as a sustainable alternative to landfills for waste disposal.
These technologies also aid in preventing landfill methane, reclaiming metals for recycling, and counterbalancing emissions from fossil fuel electricity production. Moreover, factors like swift industrialization, population growth, escalating urbanization, and economic development of emerging nations lead to increasing rates of municipal solid waste (MSW) generation. Therefore, regulatory bodies across various countries are taking measures and adopting WTE technologies to manage MSW accumulation and harness energy from its combustion for residential and commercial applications.
Besides, the advent of innovative technologies like hydrothermal carbonization (HTC), which expedites the geothermal conversion process of wet waste using an acid catalyst under high pressure, is expected to provide a positive market outlook.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Thermal
- Incineration
- Pyrolysis
- Gasification
- Biochemical
- Others
Breakup by Waste Type:
- Municipal Waste
- Process Waste
- Agriculture Waste
- Medical Waste
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
A2A SpA, Babcock & Wilcox Enterprises, Inc., China Everbright International Limited, CNIM, Covanta Holding Corporation, Hitachi Zosen Inova AG, John Wood Group plc, Mitsubishi Heavy Industries Ltd, Ramboll Group A/S, Veolia Environnement S.A. and WIN Waste Innovations.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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