Global Waste to Energy Market is Set to Hit USD 24.71 Billion by 2025
Research Reports
Dec 29, 2020
According to Market Research Future (MRFR), the global waste to energy market is estimated to reach USD 24.71 billion, with a 5.41% CAGR from 2019 to 2025 (forecast period).
The research presents the strengths, opportunities, challenges, and future business risks and provides an extensive analysis of the global market environment with the effects of COVID-19.
Waste to Energy (WTE) is the generation of power in the kind of electricity or heat from waste treatment. Typically, direct combustion is used to generate power; in some cases, combustible fluids like methanol and ethanol are produced. Waste to energy facilities accounts for the significant production of electricity, steam, and metal recovery to be recycled annually by combusting tons of solid municipal waste. Conversion of waste to energy is becoming a crucial component of global integrated waste management strategies. Many WTE processes generate electricity and/or heat directly by combustion or produce a combustible fuel commodity like methane, methanol, ethanol, or synthetic fuels.
Market Dynamics
The propelling factors for the development of global waste to energy market include the rising accumulation of waste worldwide. As per the World Bank report published in 2018, the solid waste generation rate is increasing rapidly and is projected to reach 11 million tons per day by 2100. Global solid waste generation is projected to increase by 70% by 2025.
In addition, the global waste to energy market is expected to rise at a high rate during the assessment period due to the abundance of waste and strict government regulations on waste disposal. Growing government restrictions on poorly managed waste in landfills are changing demand towards waste to energy processes. In addition, government and private-sector initiatives to save the planet and protect its natural resources offer a significant boost to market growth. However, the dearth of flexibility in handling waste and regulatory barriers is expected to impede market development.
The global waste to energy market is anticipated to see significant growth during the forecast period due to the high calorific value of the waste. As per an article in Nature Environment and Pollution Technology published in September 2017, liquid fuel from HDPE, LDPE, and PP waste using 10% dolomite showed higher calorific values (43000-46000 kJ / kg) compared to non-catalyst (40000-42000 kJ / kg).
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Market Segmentation
The global market for waste to energy has been segmented based on technology.
Based on technology, the global waste to energy market has been segmented into thermal technology and biological technology. The thermal technology segment is further divided into incineration, pyrolysis, and plasma-arc gasification. The incineration sub-segment is leading the market, mainly because of the combustion of organic substances and the generation of ash, flue gas, and heat. The biological technology segment is further divided into methane capture, anaerobic digestion, and fermentation. The anaerobic digestion sub-segment is leading the market due to the growing application of biogas, which is used widely in generating electricity and heat energy, natural gas, and transportation fuel.
Regional Analysis
Based on region, the global waste to energy market has been segmented into the Asia Pacific (APAC), North America, Europe, South America, and the Middle East & Africa.
The Asia Pacific is the top market for waste to energy, accounting for almost half of the market share of this region. Rapid economic growth in the region is the main factor responsible for the growth and development of the waste to energy market in the Asia Pacific. India and China have an excellently-established waste management infrastructure that is expected to generate enormous growth opportunities for this market.
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Key Players
The industry giants identified by MRFR operating in the global waste to energy market are Waste Management, Inc. (US), Axpo Holding AG(Switzerland), A2A S.p.A. (Italy), Veolia (France), Hitachi Zosen Inova AG (Japan), Keppel Seghers (Qatar), Ramboll Group A/S (Denmark), BABCOCK & WILCOX VØLUND A/S (Denmark), Wheelabrator Technologies Inc. (US), BTA International GmbH (Germany), Covanta Holding Corporation (US), and BlueFire Renewables (US).
Significant players in the global waste to energy industry, such as Waste Management Inc., Hitachi Zosen Inova AG, A2A S.p . A., Veolia, and BABCOCK & WILCOX VØLUND A / S, are actively engaged in signing contracts and agreements with utilities and industries to deliver waste to energy products and services. For example, in 2019, BABCOCK & WILCOX VØLUND A / S signed a contract with Bodens Energi AB (BEAB) to deliver a waste-to-energy boiler capable of handling up to 13 tons of municipal solid waste per hour.
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