Europe Waste-To-Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The European waste-to-energy (WtE) market reached USD 17.28 billion, and it is anticipated to reach USD 24.12 billion by 2027, registering a CAGR of 4.2% during the forecast period. The COVID-19 outbreak had a moderate impact on the market due to reduced investments in new projects caused by a global economic slowdown. The market is expected to revive toward the latter part of the forecast period after the revival of the global economy. For instance, in August 2020, Doosan Heavy Industries & Construction was awarded an EPC contract valued at about KRW 220 billion (USD 185.5 million) for a waste-to-energy (WtE) plant in Poland. The power plant is expected to have a capacity to treat about 300 ton of municipal waste per day to generate a heat and electricity supply of about 12 MW. The construction of the project is likely to be complete by 2023. Factors such as the increasing amount of waste generation, growing concern for waste management to meet the need for sustainable urban living, and rising focus on non-fossil fuel sources of energy are driving the demand for waste-to-energy in the region. The market growth is expected to be restrained by the expensive nature of incinerators, as energy prices decline and several plants cannot cover operating costs. Furthermore, several European countries plan to focus more on recycling, which saves three to five times more energy, thus restraining the waste-to-energy market.
Key HighlightsThe European waste-to-energy (WtE) market is moderately fragmented. Some of the major players operating in the market include Mitsubishi Heavy Industries Ltd, Martin GmbH, A2A SpA, Veolia Environnement SA, and Hitachi Zosen Corp.
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