Waste-to-Energy Market Set to Soar Past USD 68.68 Billion by 2030
The global waste-to-energy market size is expected to reach USD 68.68 billion by 2030 and exhibit a CAGR of 7.5% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing waste generation, rising energy demand, environmental regulations promoting waste management and energy recovery, reducing landfill usage, the need for sustainable and renewable energy sources, advancements in waste-to-energy technologies, and the potential for reducing greenhouse gas emissions through waste conversion processes fuel the market’s growth.
Westford,USA, Jan. 10, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Waste to Energy market, adoption of advanced conversion technologies like anaerobic digestion and gasification, increased focus on resource recovery and recycling before energy conversion, growing interest in distributed energy generation through small-scale waste-to-energy systems, development of integrated waste management solutions, expansion of waste-to-energy projects in emerging economies, and efforts to improve environmental sustainability and reduce greenhouse gas emissions through cleaner waste-to-energy processes are the trends that aid in the market’s growth.
Browse in-depth TOC on “Waste to Energy Market”
- Pages – 157
- Tables – 63
- Figures – 75
Waste to energy (WtE) is a process of converting waste into usable forms of energy, such as electricity, heat, or biofuels. WtE technologies can be used to process a wide range of waste materials, including municipal solid waste, agricultural waste, and industrial waste.
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Prominent Players in Waste to Energy Market
- Hitachi Zosen
- Babcock & Wilcox Vølund
- Keppel Seghers
- Covanta
- Wheelabrator Technologies
- China Everbright Environment
- Suez Environment
- Veolia
- Thermo Fisher Scientific
- Mitsubishi Heavy Industries
- Kawasaki Heavy Industries
- Andritz
- Martin GmbH
- Thyssenkrupp
- CNIM Group
- Ramboll
- WSP
- Tetra Tech
- Jacobs
- Fluor Corporation
- Arup
- Bechtel
Municipal Solid Waste (MSW) Demand to Grow Substantially in the Forecast Period
Municipal solid waste (MSW) dominates the global online market, including everyday household waste, which is generated consistently in large quantities in urban and suburban areas. The sheer volume of MSW makes it a readily available feedstock for waste-to-energy facilities. Managing MSW in landfills can lead to environmental issues such as leachate and methane emissions. Governments and communities are increasingly seeking alternative methods like waste-to-energy to reduce the environmental impact of MSW disposal.
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Power Plants is the Leading Application Segment
In terms of application, power plants are the leading segment due to the increasing demand for waste management. The use of waste to energy in dedicated power plants is a significant application segment. These facilities generate electricity by combusting waste, particularly municipal solid waste (MSW), to produce power. The sales in this segment are driven by the need for sustainable and renewable energy sources, waste reduction goals, and energy demand.
Europe is the leading Market Due to the Regulatory Framework
Region-wise, Europe is one of the largest growing markets with a substantial regulatory framework. European nations have firm commitments to waste reduction and environmental sustainability. Energy waste is a solution to divert waste from landfills while generating renewable energy. European countries have invested in advanced waste-to-energy technologies to improve energy efficiency and reduce greenhouse gas emissions.
A recent report thoroughly analyzes the major waste-to-energy market players. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Waste to Energy.
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Key Developments in Waste to Energy Market
- Veolia Environnement S.A. signed a contract with a local government in Australia to develop a waste to energy facility, aiming to convert municipal solid waste into renewable energy.
Key Questions Answered in Waste to Energy Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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