Waste-to-Energy Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028F
Global Waste-to-Energy Market is expected to thrive during the forecast period 2024-2028 due to a surge in Waste-to-Energy public spending and a demand for incineration processes. Additionally, a rise in customer preference for quick and simple Waste-to-Energy conversion methods including incineration, gasification, pyrolysis, and other biochemical processes like aerobic and anaerobic digestion.
Municipal solid waste (MSW) is a mix of items with high energy content, including paper, plastic, yard trash, and wood-based products. For example, in the US, 85 pounds of every 100 pounds of MSW can be burned as fuel to produce power. Waste-to-energy facilities transform 2,000 pounds of garbage to ash that weighs between 300 and 600 pounds, resulting in an 87% reduction in waste volume.
The process of recovering energy and the method of producing energy in the form of heat or electricity from the initial treatment of trash are known as waste to energy (WtE). The majority of WtE processes either generate a combustible fuel commodity, such as methanol, methane, synthetic fuels, or ethanol, or produce heat or electricity directly through thermal combustion.
Digitalization in Waste Management Techniques to Spur Market Opportunities
Government regulations that are strict in response to rising greenhouse gas emissions spur the development of green technology. Along with the introduction of Waste-to-Energy technology, governments all over the world are spending money on renewable energy sources to lessen their reliance on fossil fuels. Additionally, advantageous incentives and programmes have been implemented in every region to encourage efficient garbage collection and processing, generating a large growth potential for the waste to energy business as it might assist in launching the right technology for energy production.
The standard of best practise is the development of organised uniform streams of trash at the source, opportunities for dispersed recycling and upcycling activities. As a result, increased community involvement in waste collecting and trading of these sorted items is made possible through digitalization.
To ensure efficiency and minimal human operation, waste management facilities equipped with a Programmable Logic Controller (PLC) and Supervisory Control and Data Acquisition (SCADA) monitoring system can be automatically monitored and operated from a centralised control station. As a result, the use of digital technologies in garbage collection and disposal operations will supply information and enhance data quality and give process operators better insights into a waste stream.
Increasing Application of Waste Management Services to Fuel Market Growth
Waste management continues to be a big issue in many developed nations. Agriculture, governmental, and industrial operations produce more than a billion tonnes of garbage. By implementing WtE strategies, numerous industries all over the world are focusing on lowering energy usage to cut costs. Techniques for converting waste into energy, such as thermochemicals, can assist end users in changing waste management to create revenue-generating opportunities for a variety of applications, including food processing, dairy farming, and wastewater treatment industries. By using chemical reactions, the procedures turn solid and liquid waste into syngas. Throughsyngas items like electricity and gas fuel can be converted into useful process.
By using them as fuel for gasifiers and converting them into useful energy and heat, the solid waste produced through such a process is no longer unusable, which lowers the cost of disposal and landfilling space. Additionally, around 40% of the electricity used in various dairy farms is used for heating activities. As a result, the magnetism of effective technologies, including the creation of electricity from trash, is projected to fuel waste growth in the Waste-to-Energy industry during the projection period.
Increase in Production of Clean Energy from Waste Drives Market Growth
Economic growth, rising industry, and urbanisation lead to waste production, environmental hazards, and carbon dioxide (CO2) emissions. Due to widespread changes in people's dietary habits, commercial and residential trash generation has considerably increased. Waste to energy can help achieve the transition to a sustainable energy ecosystem by serving as a clean demand response option, an energy source to lower greenhouse gas (GHG) emissions, a factor in the design of eco-industrial parks, and occasionally the only method for treating end-of-life waste. One of the key factors influencing the global market is the consistently expanding demand for energy worldwide. For instance, the Asian Development Bank's Waste-to-Energy cycle estimates that by 2050, urbanisation, population expansion, and economic development will cause 3.4 billion tonnes of municipal garbage to be created. As a result, substantial investments are being made in development procedures to reduce environmental issues and waste, creating chances for the waste to energy sector to flourish. Hanoi, the capital of Vietnam, set a goal in July 2022 to recycle at least 80% of household solid waste into electricity by the year 2025. Six project ideas totaling roughly 10,500 tonnes of trash handling capacity have been submitted to the city.
Market Segmentation
Global waste-to-energy market is segmented based on technology, waste type, application, and region. Based on technology, the market is bifurcated into thermochemical and biochemical. Based on waste type, the market is segmented into municipal solid waste, process waste, agricultural waste, and others. Based on application, the market is bifurcated into electricity and heat. Based on region, the market is segmented into North America, Asia-Pacific, Europe, South America, Middle East & Africa.
Market player
Major players in the Global Waste-to-Energy Market are Veolia Environnement SA, Hitachi Zosen Corporation, Wheelabrator Technologies Holdings Inc., Babcock & Wilcox Enterprises, Inc., Mitsubishi Heavy Industries Ltd, Waste Management Inc., Covanta Holding Corp., and China Everbright Group.
Report Scope:
In this report, the Global Waste-to-Energy Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Waste-to-Energy Market, By Technology:
- Thermochemical
- Biochemical
- Waste-to-Energy Market, By Waste Type:
- Municipal Solid Waste
- Process Waste
- Agricultural waste
- Others
- Waste-to-Energy Market, By Application:
- Electricity
- Heat
- Waste-to-Energy Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East
- Saudi Arabia
- South Africa
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Waste-to-Energy Market.
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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