Waste to Energy Market Forecasts to 2028 - Global Analysis By Waste Type (Process Waste, Municipal Solid Waste, Agriculture Waste, Medical Waste and Industrial Waste), Technology (Biochemical, Thermal, Biological, Physical and Anaerobic Digestion), Appli

Waste to Energy Market Forecasts to 2028 - Global Analysis By Waste Type (Process Waste, Municipal Solid Waste, Agriculture Waste, Medical Waste and Industrial Waste), Technology (Biochemical, Thermal, Biological, Physical and Anaerobic Digestion), Application (Heat, Electricity, Combined Heat & Power and Transport Fuels) and Geography

According to Stratistics MRC, the Global Waste to Energy Market is accounted for $58.59 billion in 2022 and is expected to reach $100.17 billion by 2028 growing at a CAGR of 9.35% during the forecast period. Waste to energy is a process that converts waste into energy, reducing dependency on oil and coal for energy production. Waste to energy is a sustainable method that keeps waste out of landfills and limits the release of methane gas from landfills. It also prevents waste from entering landfills and reduces carbon dioxide emissions. These facilities use a boiler to burn trash or waste to create steam, which is then used to generate electricity. By eliminating pollutants from gas combustion and preventing them from entering the smokestack, the waste to energy process contributes to a reduction in air pollution.

According to the U.S. Environmental Protection Agency, greenhouse gas emissions witness a one-ton reduction for every ton of solid waste processed in waste to energy facilities. For instance, the U.S. based Covanta Holding Corporation utilizes its waste to energy facilities to recycle 500 kilotons of metal and convert approximately 21.0 million tons of waste into usable energy.

Market Dynamics:

Driver:

Increase in Production of Clean Energy

Growing urbanization and industrialization are accompanied by economic expansion, which generates waste, environmental hazards, and carbon dioxide (CO2) emissions. With widespread changes in people's lifestyles, the proportion of business and residential garbage has also significantly increased. Waste to energy has a role to play in achieving the transition to a sustainable energy ecosystem, serving as a clean demand response option, an energy source to reduce greenhouse gas (GHG) emissions, a design consideration for eco-industrial parks, and occasionally the only option for end-of-life waste treatment. In addition, one of the major forces driving the global market is the expanding demand for energy worldwide as a result of population growth, rapid industrialization, and urbanization.

Restraint:

High Installation Cost

The building of the necessary infrastructure, operating costs, waste management and segregation costs, and other costs are all part of the cost of setting up a waste to energy plant, and specifically an incineration facility. The incinerator plants also need to be maintained regularly, which is expected to hinder the market's growth over the projected period. Therefore, trained personnel and devoted staff are required to handle them.

Opportunity:

Waste to Energy has Potential to Replace Coal

Municipal solid waste combustion in waste-to-energy plants is a reliable and affordable substitute for coal power plants. As coal is burned to produce power, toxic gases such sulphur dioxide, nitrogen oxides, and hydrogen chloride are released, along with trace amounts of lead, mercury, and cadmium. On average, waste-to-energy plants can produce 300 million tonnes of electricity per year by waste incineration. This reduces the demand placed on fossil fuels, coal and other non-renewable energy sources.

Threat:

Low awareness and lack of infrastructure

The main factors that could impede the market's expansion are a lack of awareness regarding waste-to-energy plants and a lack of financial resources to implement cutting-edge technologies to generate electricity from waste. Inadequate infrastructure makes it challenging for developing countries to increase the amount of electricity generated from garbage.

Covid-19 Impact

Due to the lockdown that has been imposed across many nations, the COVID-19 outbreak has caused severe uncertainty. The accumulation of a significant amount of toxic medical waste, including gloves, PPE kits, sanitizer bottles, and other items, has had a negative impact on the waste-to-energy market by increasing people's concern about acquiring the virus. Due to inappropriate waste collection and disposal, restrictions on economic activity, mobility, and the closure of industrial and production facilities, there was a severe impact on waste management.

The thermal segment is expected to be the largest during the forecast period

The thermal energy produced from burning waste is significantly responsible for the growth of thermal technology as it is used to generate steam turbines, which in turn generate power. For instance, Japan is a pioneer in the field and operates some of the most advanced thermal treatment centers, which can process 39 million tonnes of waste annually. As a result, this technology is extensively used and reliable.

The municipal solid waste segment is expected to have the highest CAGR during the forecast period

Owing to enhanced waste production from households, companies, retail stores, educational institutions, hotels, and other institutions, municipal solid waste has the highest CAGR. However, government organisations have established a framework that focuses on recycling garbage created as raw material, which is likely to promote the reuse of waste produced by commercial operations.

Region with largest share:

During the forecast period, Asia Pacific is expected to have the largest share owing to an increase in efforts by the government to adopt better MSW management techniques, offer incentives for waste-to-energy projects in the form of capital subsidies and feed-in tariffs, and provide financial support for R&D projects on a cost-sharing basis across the globe.

Region with highest CAGR:

An increase in government initiatives to support waste-to-energy projects and lower the emission of harmful gases is mainly responsible for this growth. Waste-to-energy plants occur in Europe. For instance, the 2013-built incinerator plant in Naples, Italy, has the capacity to burn 650,000 tonnes of garbage annually. Vartan, Aros, and Herning are only some of the waste-to-energy plants in Sweden and Denmark that produce more than 100 kW of electricity. In addition, the UK has a gasification-based waste to energy plant in Manchester that has a 78,000-ton annual capacity and can handle municipal solid waste, commercial garbage, and industrial waste.

Key players in the market

Some of the key players in Waste to Energy market include John Wood Group Plc, Plasco Energy Group. INC, China Everbright International Limited, Wheelabrator Technologies Holdings Inc., Suez, Covanta Holding Corporation, Waste Management Inc., Hitachi Zosen Inova AG, Babcock & Wilcox Enterprises, Inc., Veolia, Bluefire Renewables, C&G Environmental Protection Holdings Ltd., WM Intellectual Property Holdings, L.L.C., Abu Dhabi National Energy Company Pjsc (TAQA) and OMNI Conversion Technologies Inc.

Key Developments:

In October 2021, the waste-to-energy plant at Kapuluppada, Andhra Pradesh, India was inaugurated. The plant capacity is around 15 MW and is expected to receive 900 to 1000 tonnes of waste on a daily basis which will be supplied by Greater Visakhapatnam Municipal Corporation.

In January 2021, the Indian state-controlled oil firm (IOC) and North Delhi Municipal Corporation (NDMC) have joined forces in setting up a waste-to-energy plant (WtE) at NDMC’s Ranikhera, New Delhi, landfill site.

In December 2020, the Karnataka government laid the foundation for a waste-to-energy (WtE) plant at Bidadi, which is being developed by Karnataka Power Corporation Ltd (KPCL). The plant is expected to be operational by the end of 2022 and is set to be the first WtE plant in the state.

Waste Types Covered:
• Process Waste
• Municipal Solid Waste
• Agriculture Waste
• Medical Waste
• Industrial Waste

Technologies Covered:
• Biochemical
• Thermo-chemical
• Biological
• Physical
• Anaerobic Digestion

Applications Covered:
• Electricity
• Combined Heat & Power
• Transport Fuels

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements