Global Waste to Energy Market is valued at USD 34.84 Billion in 2021 and expected to reach USD 51.05 Billion by 2028 with a CAGR of 5.61% over the forecast period.
Waste to energy or energy from waste is the process of generation of energy in the form of electricity or heat from the treatment of waste and processing of waste into a fuel source. Waste to energy is a form of energy recovery. It is an economically and ecologically sound way to create a renewable source of energy. Most waste-to-energy processes generate electricity or heat directly through combustion or produce a combustible fuel commodity such as methanol, methane, and synthetic fuels. In waste to energy process the energy is generated by using thermal processes like gasification, thermal depolymerization, pyrolysis, plasma arc gasification and by using non thermal processes like anaerobic fermentation, anaerobic digestion, and mechanical biological treatment (MBT).
Waste to energy plants burn all municipal waste. This energy is used for different purposes like for creating electricity, creating steam. The waste to energy in solid waste avoids methane emissions from landfills and offsets greenhouse gas emission from fossil fuel electrical production. Also, it recovers valuable resources such as metals and produces clean, reliable base-loaded energy and steam. It uses less land per megawatt than other renewable energy sources also it destroys chemical waste which results in low emission levels. The first incinerator was built in 1874 in Nottingham UK by Manlove, Alliott & Co. Ltd. to the design of Alfred Fryer.
However, concerns related to the environmental hazards associated with incineration process may hamper the market growth. In spite of that, growing awareness regarding environment protection can offer the more opportunities for the further growth of the global waste to energy market.
Waste to Energy Market Size, Share & Trends Analysis Report (2022-2028)
Waste to Energy Market has been assessed on the basis of various market-based aspects. In this report, 2020 has been taken as the base year. Further, the forecast period of 2021-2027 has been considered for the overall market analysis.
Some major key players for global waste to energy market report cover prominent players like
These companies are trying to enhance their position as global leaders in this business sphere. Hence, they are formulating a wide array of effective strategies incorporating mergers & acquisitions, product launches, R&D investments, collaborations, and partnerships, among others to stay ahead of their core competitors and fulfil their development goals.
The thermal segment is reckoned to garner significant returns over the estimated timeframe. This is attributable to the sustainable nature of this process which enables the complete combustion of toxic gases which are released by the waste materials. Moreover, it is also easy to operate and therefore is an ideal option for urban cities.
Europe: Europe is expected to show a significant growth in the global waste to energy market over the forecast period due to large production of electricity and heat by waste to energy, presence of major market players and large revenue shares and supportive government initiatives in this region. For instance; according to Multidisciplinary Digital Publishing Institute (MDPI) 2020, around 39TWh of electricity and 90 TWh heat produced annually in Europe and it prevent production CO2 about 50 million tons which can be generated through fossil fuels. Also presence of major market players in Europe is also fostering the market of waste to energy market. As per the news published in March 2020, Veolia waste to energy capability began low carbon heat delivery in UK. This plant supplies heat for 1983 council homes and electricity for 22000 homes.
North America: North America is expected to show a lucrative growth in the global waste to energy market due to the preference to clean electricity generation, increasing solid waste and growing awareness of environment protection & climate change. According to Energy Information Administration 2018, 29.5 million tons of municipal Solid waste was burnt in U.S, in about 68 wastes to energy plants to generate around 14.0 billion KWh of electricity. Also increasing solid waste is also responsible for growth of energy to waste market. For example, according to United states Environment Protection Agency (EPA), 2019, the total generation of municipal solid waste (MSW) in 2018 was 292.4 million tons in U.S.
Middle East & Africa- The MEA region is anticipated to witness profitable development opportunities in the ensuing years. Favourable government based infrastructural sustainability initiatives, growing environmental cognizance of the masses, along with rising R&D investments in the field are aiding the expansion of this regional market. Also, escalating demand for clean energy, increasing electricity consumption due to rapid industrialization and urbanization coupled with the growing prevalence of diseases triggered by soil and water pollution are adding traction to the expansion of the MEA waste to energy market. Besides, influx of advanced technologies in this sector, growing instances of people’s migration from rural to urban areas for better lifestyle, and the emergence of prominent players are further accelerating the growth of this industry.
The COVID -19 outbreaks has shown a negative impact on the growth of global waste to energy market. The COVID situation disrupted the global economy by halting the production and processing of major industries such as recycling waste industries and energy generation industries. These industries were closed during the lockdown or operated under the restricted environment. During Covid-19 pandemic, government imposed a restriction on transportation to reduce the risk of infection of the virus may hamper the global waste to energy market.
Increasing government regulations regarding the waste to energy in various countries is one of the major factors driving the growth of global waste to energy market. For instance, according to Federal Power Act 2019, this act gives federal authority over electric utilities in U.S. Also, the acts like Public Utility Regulatory Policy Act (PURPA) and Energy Policy Act are applied by the government to increase the waste to energy and decrease the CO2 emission by fossil fuels. In addition, escalating investments in R&D by different countries is also fostering the growth of global waste to energy market. According to a news published in July 2019, around 10,000 crore invested in waste to energy plants, around 92 plants with aggregate capacity of around 250 MW have been set up in India. Investors valued waste to energy in India at almost $1.5 billion (11,0000 crore) in 2017.
Furthermore, emerging waste to energy technologies like Dendro Liquid Energy (DLE) are also supplementing the market growth. For instance, according to New Tech for Old Industries 2018, there are few upcoming new waste to energy technologies like Dendro Liquid Energy (DLE) and Hydrothermal Carbonization (HTC). HTC fast tracks the slow process of geothermal conversion of waste with an acid catalyst at high pressure and heat to stimulate the production of hydro-char that has properties similar to fossil fuels.
In February 2017, Veolia announced the establishment of a synthetic e-production facility in Europe with an aim to revolutionize the dynamics of waste-to-energy industry by using innovative technologies. This unit is situated in LIPOR’s Energy Recovery Plant located near Porto.
Report Analysis | Details |
---|---|
Historical data | 2018 - 2021 |
Forecast Period | 2022 - 2028 |
Market Size in 2021: | USD 34.84 Billion |
Base year considered | 2021 |
Forecast Period CAGR %: |
5.61% |
Market Size Expected in 2028: | USD 51.05 Billion |
Tables, Charts & Figures: | 175 |
Pages | 200 |
Companies | Hitachi Zosen Inova AG, Ramboll Group A/S, Covanta Holding Corporation, China Everbright International Ltd., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises lnc., Wheellabrator Technologies lnc., Xcel Energy lnc., Suez, Veolia, Waste Management Inc., LanzaTech, Crusoe Energy, GPS Renewables, others. |
Segments Covered | By Technology |
Regional Analysis | North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa |
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