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The waste to energy market size is forecast to increase by USD 28.69 billion, at a CAGR of 7.51% between 2023 and 2028. The increasing awareness about climate change, coupled with the rise in urbanization and advancements in waste-to-energy conversion technology, are driving significant shifts in energy and environmental sectors. As awareness of climate change grows, there's mounting pressure to adopt sustainable practices, including the reduction of greenhouse gas emissions. Urbanization intensifies this need as cities become major sources of emissions, necessitating innovative solutions to manage energy consumption and waste. Advancements in technology offer promising avenues, particularly in the conversion of waste to energy, providing opportunities to reduce reliance on fossil fuels and mitigate environmental impacts. Together, these trends underscore a global transition towards cleaner and more efficient energy systems, reflecting a commitment to address climate change and promote sustainable development.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The thermal segment will account for a major share of the market's growth during the forecast period.?Thermal technology is one of the main technologies used in the global waste to energy market. Its technology involves the use of heat to convert waste into energy. This technology is further segmented into four types namely incineration, gasification, pyrolysis, and plasma arc gasification. The incineration segment of thermal technology involves the burning of waste at high temperatures to produce steam which is used to generate electricity. The gasification segment involves the conversion of waste into a gas by heating.
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The thermal segment was valued at USD 43.50 billion in 2018. In the thermal technology segment pyrolysis sub-segment involves the heating of waste in the absence of oxygen to produce a liquid or gas that can be used as fuel. Similarly, the plasma arc gasification process involves plasma to convert waste into a gas. Which can then be used as a fuel. Moreover, these technologies are used in various types of waste-to-energy plants, including mass-burn plants, modular plants, and refuse-derived fuel plants, which will drive the growth of the segment during the forecast period.
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Europe is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The waste to energy market in Europe is increasing due to the countries seeking to reduce their dependence on fossil fuels and using their renewable energy sources. Through various processes, such as incineration, gasification, and pyrolysis waste energy technology converts solid waste into energy. Several countries in Europe, including Germany, France, the UK, Sweden, Denmark, and the Netherlands, have developed a mature waste-to-energy industry. In Europe, Germany is the largest market for waste to energy technology, with over 80 waste to energy plants in operation.
Moreover, the demand for waste to energy in Europe is rising due to the increasing efforts to reduce the carbon footprint and to control global warming by reducing the waste generated. In Europe, most of the waste is processed using integrated waste management systems (IWMS), which are controlled by the European Union (EU) regulations. Landfills are used for the management of MSW in Europe. However, due to the development of new regulations, there has been a reduction in the amount of MSW disposed of in landfills in Europe. This policy has set a target for the recycling of 75% of packaging waste by 2030 and reducing food waste by 30% by 2025 and 50% by 2030. Hence, due to these regulations, this region is expected to grow during the forecast period.
In the global pursuit of sustainable energy solutions, the market emerges as a beacon of environmental innovation. Addressing the pressing concerns of wastes, carbon emissions, and air pollution, this sector leverages alternate energy sources like biofuels, biomass, and bioethanol derived from organic waste. Utilizing advanced waste management systems and incineration thermal technology, it converts waste materials into valuable energy resources while mitigating environmental impact and safeguarding human health. Amidst increasing industrialization and rising air pollution levels, waste-to-energy initiatives stand as a crucial pillar of sustainable development, offering a dual solution to waste management and clean energy generation for a healthier, more environmentally conscious future. The market growth analysis report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Increasing awareness about climate change is the key driver for the growth of the global market. Awareness about climate change helps reduce the amount of waste that goes into landfills, which results in decreased greenhouse gas emissions, one of the major causes of climate change. Globally, governments, organizations, and individuals are more aware of the need to decrease carbon footprint and adopt sustainable practices. There is one of the solutions to achieve this goal, as it can help to generate renewable energy in the process and also reduce the amount of waste that is sent to landfills
Additionally, the environmental benefits also help to reduce the cost of waste disposal and generate revenue through the sale of electricity or other by-products. This results in a rising demand for waste-to-energy technologies. Generally, the rising awareness about climate change and more and more countries and organizations looking to adopt sustainable practices and decrease their carbon footprints will drive the growth of the market during the forecast period.
Increased waste generation for waste to energy is the primary trend in the market. The global waste to energy market is experiencing a trend of increased waste generation due to a rising global population and urbanization. The amount of waste being produced worldwide has been rapidly increasing. This trend is expected to continue during the forecast period. Owing to the waste generation solutions, there is a rising demand for waste to energy solutions that can help manage and dispose of this waste in a cost-effective manner
Moreover, advanced technologies of waste to energy, such as incineration, gasification, and pyrolysis, are being developed and deployed to convert waste into energy, Therefore, they reduce the amount of waste that ends up in landfills and mitigate greenhouse gas emissions. Additionally. governments and regulatory bodies around the world are making policies and initiatives to promote the development of waste to energy solutions. Hence, it is expected to drive the market during the forecast period.
The high operating and maintenance costs of waste to energy plants are the key challenge for the global waste to energy market. A major amount of capital investment is required to construct waste to energy plants, which often raise high electricity prices, and the cost of waste processing is comparatively more expensive than traditional waste disposal methods is the main reason for high operating and maintenance costs. Processing involves several steps, such as sorting, shredding, and incineration, and these plants must handle various types of waste.
Moreover, the maintenance cost of the equipment and ensuring compliance with environmental regulations add to the overall cost of running plants. The need to monitor and control emissions of pollutants, such as nitrogen oxides and sulfur dioxide, is a major challenge that requires advanced technology and high maintenance costs. Therefore, the costs and complexities involved in treatment processes. It also includes landfilling, and incineration may limit the adoption of efficient waste to energy processes, which will result in restricting the growth of the global waste to energy market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BlueFire Renewables Inc.: The company offers arsenal process technology for the conversion of cellulosic waste materials into renewable fuels and other products.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the battle against carbon emission and their detrimental impact on environment health, the waste-to-energy market emerges as a formidable solution. Utilizing an advanced waste management system and cutting-edge anaerobic decomposition technology, it converts diverse waste sorting, including municipal solid waste, industrial waste, and agricultural waste into valuable energy resources. With a keen focus on air pollution level and environmental pollution, waste-to-energy initiatives offer not only a sustainable energy source but also contribute to cleaner air and healthier communities. However, their success hinges on factors like financial resources, technology innovation, and public acceptance, ensuring operational efficiency and geographic reach in delivering effective waste treatment facilities and reducing harmful air emissions. Monitoring waste streams for their calorific value provides insights into project capabilities for efficient resource utilization and environmental management.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.51% |
Market Growth 2024-2028 |
USD 28.69 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.53 |
Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
Performing market contribution |
Europe at 43% |
Key countries |
Germany, Japan, China, US, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A2A SpA, Abu Dhabi National Energy Company PJSC, Babcock and Wilcox Enterprises Inc., BlueFire Renewables Inc., China Everbright Environment Group Ltd., China Jinjiang Environment Holding Co. Ltd., CNIM SA, Covanta Holding Corp., Ener Core Inc., Future Biogas Ltd., Hitachi Zosen Corp., John Wood Group PLC, Keppel Corp. Ltd., MARTIN GmbH, Meridiam SAS, Mitsubishi Heavy Industries Ltd., MVV Energie AG, Veolia Environnement SA, Waste Management Inc., and Wheelabrator Technologies Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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