Waste-to-Energy Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Waste to Energy Market
The waste to energy market size was valued at USD 34.50 billion in 2023, and the market is now projected to grow from USD 35.84 billion in 2024 to USD 50.92 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period of 2024-2032.
The COVID-19 pandemic disrupted the financial system by uncertaining the operations of major industries, such as recycling waste and energy-generating industries. The solid waste management system met both opportunities and threats because of the spread of coronavirus. In response to the rising pressure of resource consumption and environmental impact, more attention was paid to uplifting the sustainability of the waste management system. Thus, the COVID-19 pandemic created hindrance for the waste to energy market growth.
The waste to energy market share globally has increased due to the increase in production of clean energy from waste. The increasing industrialization and urbanization are resulting in waste generation, environmental pressure, and carbon dioxide (CO2) emissions. The commercial and residential waste has also increased drastically, with global changes in life patterns of people. Waste to energy support in achieving the transformation to a sustainable energy ecosystem acting as an energy source to a design consideration of eco-industrial parks, a clean demand response option, and occasionally the helps for end-of-life waste treatment.
The trend is digitalization in waste management techniques to spur market opportunities. Strict government policies related to rising greenhouse gas emissions bring about the innovation of green technology to develop clean energy. Governments across the world are spending on renewable energy sources to trim down dependence on fossil fuels and harmonize the adoption of WtE technologies. In addition, favorable incentives and programs have been initiated to promote effective waste collection and processing, creating significant growth potential for the waste to energy industry.
Comprehensive Analysis of Waste to Energy Market
The waste to energy market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated into waste type, technology, and application. The technology includes thermochemical and biochemical. The waste types contain municipal solid waste, process waste, agricultural waste, and others. However, the applications are electricity and heat.
The Asia Pacific region is conducive to the global waste to energy market, leading to a recall of USD 16.30 billion owing to increasing economic activities, resulting in increased waste production.
The top players in the market play a vital role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include Wheelabrator Technologies Inc. (New Hampshire), Huawei Enterprise (China), Veolia (France), China Everbright Limited (China), SUEZ (Paris), Covanta (U.S.), EDF (France), Ramboll Group (Denmark), AVR (Rotterdam-Botlek), Allseas (Switzerland), Attero (India), and Viridor (U.K.), these market players present a level-playing competitive landscape.
In June 2022, AVR decided to explore the possibility of locally managing its hazardous flue gas cleaning residues by partnering with Swedish company HaloSep AB. The HaloSep operation is a distinct solution that converts hazardous waste into harmless and useful snatches. Choosing HaloSep's solution would make AVR in Rotterdam more circular by improving material resources and dropping the plant's environmental footprint.
Segmentation Table
Global Waste to Energy Market Scope
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 4.5% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Technology
Thermochemical
Biochemical
By Waste Type
Municipal Solid Waste
Process Waste
Agriculture Waste
Others
By Application
Electricity
Heat
By Region
North America (By Technology, By Waste Type, By Application, and by Country)
U.S. (By Application)
Canada (By Application)
Europe (By Technology, By Waste Type, By Application, and by Country)
U.K. (By Application)
Germany (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Russia (By Application)
Rest of Europe (By Application)
Asia Pacific (By Technology, By Waste Type, By Application, and by Country)
China (By Application)
India (By Application)
Japan (By Application)
Australia (By Application)
South Korea (By Application)
Southeast Asia (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Technology, By Waste Type, By Application, and by Country)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Technology, By Waste Type, By Application, and by Country)
GCC (By Application)
South Africa (By Application)
Rest of Middle East & Africa (By Application)
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