According to the latest analysis by MarkNtel Advisors, the Global Waste to Energy Market had a valuation of USD 39.21 billion in 2022 and is likely to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28. The report attributed this surge to numerous factors, such as substantial annual residential and commercial waste generated from urbanization and industrialization, combined with escalating population and power consumption rates. This trend has led many countries to emphasize clean power production from renewable sources, thereby increasing the demand for waste-to-energy plants to manage the significant global waste output.
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Furthermore, technological advancements in WTE plants, such as improvements in combustion and boiler designs, as well as more effective metal recovery systems, play a crucial role in driving market growth. The scarcity of adequate landfill sites in most regions is another notable factor projected to propel the market forward through 2028.
The report extensively cover government initiatives that could foster the adoption of Waste to Energy activities, benefiting key market participants such as Suez Environment S.A, Veolia Environment, C&G Limited, Waste Management Inc., Keppel Seghers, Babcock & Wilcox Co., Covanta Energy Corporation, ADI Systems Inc., Hitachi Zosen Inova AG, Xcel Energy Inc., Abu Dhabi National Energy Company PJSC, MVV Energie AG, China Jinjiang Environment Holding Co Ltd, A2A SpA, Martin GmbH, China Everbright International Limited, Mitsubishi Heavy Industries Ltd, Shandong Wheelabrator Technologies Inc., Constructions Industrielles de la Mediterranee, Foster Wheeler A.G. The inclusive coverage of lucrative prospects makes this research analysis valuable for investors and other stakeholders.
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By Technology Thermal (Incineration, Pyrolysis, Gasification), Biological, Physical)
Thermal technology, particularly incineration, is likely to garner maximum attention with the highest share of the Global Waste-to-Energy Market during 2023-28. It is owed principally to the extensive waste incineration facilities’ development worldwide, especially across Asia-Pacific. Thanks to its advantages like easy operation, diminished GHG emissions, energy preservation, minimized waste volumes, and effective recycling of metal & bottom ash. Also, incineration acts as a sustainable solution for both urban & rural areas, augmenting the overall growth of the waste-to-energy market, says the research report.
By Type of Waste (Municipal Waste, Agricultural Waste, Industrial Waste, Others)
The Global Waste to Energy Market is predominantly influenced by Municipal Solid Waste (MSW), holding the majority share. This dominance is attributed to the continuous rise in industrialization and the substantial waste output from various sources, including residences, offices, shops, schools, and hotels. Governments worldwide are responding to this surge in waste generation by implementing stringent regulations to ensure proper management of MSW.
The considerable volume of MSW being produced presents a significant opportunity for extensive energy generation on a global scale. Utilizing this abundant MSW for energy production not only aligns with regulatory requirements but also plays a pivotal role in fostering the overall growth of the Waste to Energy industry. This trend is expected to persist and contribute substantially to the industry’s expansion through the year 2028.
By Region (Asia-Pacific, Europe, North America, Middle East & Africa, South America)
Europe held the largest market share in the waste-to-energy market in the historical period. Predominantly, the widespread presence of leading companies actively engaged in the industry facilitates a robust market environment. Besides, the favorable regulatory policies about proper waste disposal have set a suitable stage for the market players to thrive in the coming years. Not only this, the rapid technological advancements in waste-to-energy plants are said to foster the region’s dominance significantly.
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