According to MarkNtel Advisors study the Global Waste to Energy Market size was valued at USD 41 billion in 2023 and is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Waste to Energy market
Global Waste to Energy Market Driver:
Production of Biofuel Maximize Market Revenue – Biofuels are liquid fuels produced from renewable biological sources, using agriculture residues & food waste, feedstock, etc., this transformation of biomass and waste produces biogas or bioethanol. These biofuels can serve as an alternative, reducing dependency on fossil fuels and becoming the most preferable fuel. Here Waste-to-energy plays an important role in supplying the energy needed for biofuel production, improving energy security. The combination of waste-to-energy with biofuel production contributes to a circular economy by utilizing organic wastes. This facilitates reducing waste and greenhouse gas emissions, therefore achieving sustainable goals. Hence, the inclination towards the production of biofuel is estimated to accelerate the growth of the waste-to-energy market.
Global Waste to Energy Market Challenge:
Expensiveness of WTE for Energy Generation Hampering the Market Dynamics – Waste-to-energy is considered a costly option associated with regulation, maintenance, and installation in comparison with other fossil fuel-powered alternatives and is likely to restrict market growth. This discourages fulfilling the requirements of Waste-to-energy technology in comparison with established renewable alternatives such as wind and solar energy. This is the reason behind the hampering of power generation capacity.
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Scope of the Report and Waste to Energy Market Segmentation:
By Technology
- Thermal
- Incineration
- Pyrolysis
- Gasification
- Biological
- Physical
Thermal technology is estimated to hold a significant share of the Global Waste-to-energy market during 2024-30.
By Type of Waste
- Municipal Waste
- Agricultural Waste
- Industrial Waste
- Others
Waste to Energy Market Competitive Landscape
- 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.
Waste to Energy Market Development:
- March 2024: Hitachi Zosen Inova announced the collaboration with Enfinium to construct and operate the UK’s first carbon capture pilot plant at a Waste-to-Energy facility. The carbon capture plant will utilize HZI’s Amine-scrubbing technology, specifically designed to seamlessly integrate with Efinium’s onsite waste-to-energy operations.
- March 2024: A2A SpA and Enel declare the signing agreement for the reorganization of electricity networks in Lombardy.
- April 2024: Babcock & Wilcox Enterprises, Inc., announced that its B&W Environmental Segment had been awarded a contract for approximately $15 million to supply environment equipment for an industrial facility in the Middle East.
Geographical Analysis:
By Region
- Asia-Pacific
- Europe
- North America
- Middle East & Africa
- South America
Asia Pacific region is expected to be the most opportunistic market during the forthcoming years.
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