The global waste-to-energy market is expected to attain a valuation of USD 43.75 billion in 2023 and is projected to reach USD 88.96 billion by 2033, trailing a CAGR of 7.3% during the forecast period.
The rising demand for the incineration process and increased public expenditure on waste-to-energy initiatives are expected to drive market growth. Furthermore, the market is predicted to experience a significant growth due to the factors such as:
- Consumer preference for efficient and convenient waste-to-energy conversion techniques like incineration, gasification, and pyrolysis.
- Consumer Preference for biochemical treatments such as aerobic and anaerobic digestion
- Supportive government policies have been instrumental in driving the waste-to-energy market. Moreover, several countries have implemented policy-level initiatives to foster the development of this market.
- In the United States, regulations under the Clean Air Act mandate the installation and operation of landfill gas collection and control systems in municipal solid waste landfills. As a result, around 256 billion cubic feet of landfill gas was collected at 327 landfills in the United States in 2020. This gas was utilized to generate around 10 billion kilowatt-hours (kWh) of electricity, accounting for around 0.3% of the total utility-scale electricity generation in the country.
- In March 2020, the MNRE updated the rules for its waste-to-energy program, introducing new guidelines that include municipal solid waste (MSW)-based projects. These additions are expected to drive market growth in India during the forecast period.
- Emerging waste-to-energy (WtE) technologies such as Hydrothermal Carbonisation (HTC) offer potential for market growth. Additionally, HTC accelerates the geothermal conversion of wet waste using an acid catalyst under high pressure and heat, generating hydrochar with fuel-like properties akin to fossil fuels.
Key Takeaways:
- The market in Asia Pacific is projected to expand with a promising CAGR of 6.2% during the forecast period.
- North America is expected to generate growth in the market with a CAGR of 7.8% during the forecast period.
- The market in Europe is projected to secure a CAGR of 7.5% during the forecast period.
- By technology, the biological waste-to-energy segment is expected to thrive at a CAGR of 7.9% during the forecast period.
- Increasing public expenditure on waste-to-energy initiatives and supportive government policies is expected to drive market growth during the forecast period. – Comments an FMI Analyst
Competitive Landscape:
The market for waste to energy (WTE) is characterized by intense competition, as notable industry players are making significant investments to enhance their manufacturing capabilities.
Some Recent Developments in the Waste to Energy (WTE) Market:
- In July 2022, Biffa was chosen as the official logistic provider for the Scottish government’s Deposit Return Scheme (DRS).
- In June 2022, AVR entered into a partnership with Swedish company HaloSep AB to explore local management options for its hazardous flue gas cleaning residues.
- Viridor sold its landfill and landfill gas business to Frank Solutions Limited in April 2022, encompassing 44 sites in the United Kingdom. This strategic move allows Viridor to focus on expanding its core business areas of energy recovery and polymer reprocessing while progressing toward its goal of achieving net-zero emissions by 2040.
- On February 17, 2022, Veolia made history by becoming the first European company to establish a synthetic e-fuel production unit. The unit was installed at LIPOR’s Energy Recovery Plant near Porto and is equipped with state-of-the-art technology and design. This ground-breaking development is set to transform the waste-to-energy industry while contributing to the decarbonization of the aviation sector.
Key Players Operating in the Industry:
- Veolia
- Velocys
- Biffa
- Sims Limited
- Stericycle
- Keppel Seghers
- Recology
- Waste Connections
- Xcel Energy
- Hitachi Zosen Inova AG
- China Everbright Environment Group Limited
- JANSEN Combustion and Boiler Technologies
- Wheelabrator Technologies
- SUEZ
- OMNI Conversion Technologies
- WM Intellectual Property Holdings
- Covanta Holding Corporation
Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global waste-to-energy (WTE) market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033. To understand opportunities in the waste-to-energy (WTE) market, the market is segmented on the basis of technology and region.
Key Segments Profiled in the Waste to Energy (WTE) Market Industry Survey:
By Technology:
- Thermal Waste to Energy (WTE) Technology
- Incineration
- Pyrolysis & Gasification
- Biological Waste to Energy (WTE) Technology
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
Access Report Details for More In-Depth Information:
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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