Waste-to-Energy Technologies Market Forecasts to 2028 – Global Analysis By Technology (Co-Processing, Pyrolysis and Gasification), Type (Biological, Thermal), Waste Type, and By Geography

Waste-to-Energy Technologies Market Forecasts to 2028 – Global Analysis By Technology (Co-Processing, Pyrolysis and Gasification), Type (Biological, Thermal), Waste Type, and By Geography

According to Stratistics MRC, the Global Waste-to-Energy Technologies Market is accounted for $37.24 billion in 2022 and is expected to reach $54.65 billion by 2028 growing at a CAGR of 6.6% during the forecast period. Waste to energy (WTE) is an energy recovery process and technology for generating energy in the form of heat or electricity from waste that has undergone basic treatment. Waste to energy conversion technologies helps to convert non-recyclable and recyclable waste products into a useful form of energy.

Governments across the globe are investing in renewable energy sources to reduce reliance on fossil fuels, which will also complement the technology demand. According to the International Energy Association report, In Q1 2020, the global use of renewable energy was 1.5% higher than in Q1 2019. The increase was driven by a rise of about 3% in renewable electricity generation after more than 100 GW of solar PV and about 60 GW of wind power projects were completed in 2019.

Market Dynamics:

Driver:

Increasing global population

Waste generation is overgrowing with an increase in population. The direct relation between population and income level is likely to increase the waste volume. In addition, daily per capita, waste generation in the developed and emerging economies are likely to increase further. Inadequate waste disposal not only causes serious environmental concerns but also impacts the public health index. Stabilization for future waste may increase waste-to-energy technology in the upcoming years.

Restraint:

Absence of a necessary framework for the collection and segregation of waste

Waste segregation refers to the partition of dry and wet garbage, which paves the way for other processes in waste management. Proper waste collection and segregation are basic for recycling waste and plastic products or any other items. Inappropriate disposal of waste poses a big threat to municipalities and other concerned bodies engaged in waste management. Improper disposal of waste can enormously affect the health of the population living nearby the polluted area or landfills. Many countries are yet to normalize and organize the waste management framework, which is causing improper handling of waste materials to a large extent.

Opportunity:

Stringent disposal and open dumping mandates

The implementation of various administrative measures to implement ecological trash treatment practices has supported the industry outlook and extended the market size. Most of the developed economies are making extensive efforts to upgrade their investments in regional recycling and composting industry growth. Respective regulating bodies have created various norms & regulations pertaining to efficient municipal solid waste management. However, the implementation of stringent norms toward enhancing sustainability has diverted the business trends toward sustainable practices including anaerobic digestion and recycling. This will have a substantial impact by providing ample opportunities for the growth of the market.

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

The thermal segment is estimated to have a lucrative growth owing to the ongoing innovations in waste treatment technologies. In thermal treatment, waste is converted into useful heat or steam, which is further used to drive a turbine to generate electricity. Furthermore, industry participants around the world are utilizing various thermal procedures for generating energy.

The municipal solid waste (MSW) incineration segment is expected to have the highest CAGR during the forecast period

The municipal solid waste (MSW) incineration segment is anticipated to witness the fastest CAGR growth during the forecast period as it is one of the major waste-to-energy technologies. During this process, waste materials are burned inside a specific chamber by raising the temperature to around 850-1450 degrees Celsius.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing efforts taken by the government in adopting better MSW management practices, providing incentives for waste-to-energy projects in the form of capital subsidies and feed-in tariffs, and providing financial support for R&D projects on a cost-sharing basis.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period owing to favorable regulatory policies including landfill taxes, carbon tax, and direct subsidies to waste to energy plants. The rising population coupled with increasing demand for energy-efficient and clean energy is likely to propel the market for waste-to-energy technologies in the region.

Key players in the market

Some of the key players profiled in the Waste-to-Energy Technologies Market include Amec Foster Wheeler PLC, Veolia Group, Suez Environnement, Ramboll Group AS, Covanta Holding Corporation, Babcock & Wilcox Enterprises Inc., Hitachi Zosen Inova AG, Abu Dhabi National Energy Company PJSC, China Everbright International Limited and Yokogawa Electric Corporation.

Key Developments:

In May 2022, Yokogawa Electric Corporation acquired Danish company Dublix Technology ApS, a provider of solutions that improve the efficiency of waste-to-energy (WTE) and biomass power plants. The addition of Dublix's combustion control and boiler performance enhancement solutions to Yokogawa's lineup of control, monitoring, and maintenance systems will enable the provision of solutions that make both WTE and biomass power plants more efficient and profitable.

In May 2021, Suez Environnement signed an agreement with Eramet to expand joint efforts in the area of recycling end-of-life electric vehicle batteries. This partnership is intended to offer a high-performance, competitive and sustainable battery recycling solution for the European market.

Technologies Covered:
• Co-Processing
• Municipal Solid Waste (MSW) Incineration
• Pyrolysis and Gasification

Types Covered:
• Biological
• Thermal

Waste Types Covered:
• Agricultural Waste
• Process Waste
• Municipal Solid Waste

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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances