Waste to Energy Market to Grow at 8.51% CAGR by 2030

Increasing demand of energy, limited landfill availability and rising volume of municipality wastes are the factors driving the growth of waste to energy market.

The Waste to Energy Market is expected to grow at a CAGR of 8.51% from 2021-2030, according to a new research report by Next Move Strategy Consulting.

Waste to energy process enables production of various combustible fuels such as ethanol, methane and synthetic fuel through the combustion of municipal wastes. It is considered to be a potential energy diversification strategy as it causes less air pollution compared to coal based and natural gas based plants. According to the International Energy Association report, globally, the use of renewable energy from waste would increase by 1.5% in 2020. This in turn drives the growth of waste to energy market. Also, various countries across the world are adopting waste to energy process to produce energy and to save their environment from the harmful green house gases. Moreover, the waste to energy market is expected to thrive due to rising need of electricity among industries, depletion of conventional energy resources and increasing government initiatives to reduce carbon emission. However, the lack of flexibility in handling waste and lack of skilled workforce are the factors hindering the growth of the market to some extent.

The waste to energy market has been segmented on the basis of technology and geography.  On the basis of technology, the market is categorized into thermal, biochemical and others. The thermal technology segment is further sub divided into incineration, pyrolysis, gasification and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific and RoW.

According to the report, Europe possesses the lion share of the waste to energy market owing to favorable regulatory policies such as carbon taxes, landfill taxes and rising awareness to reduce global warming. On the other hand, North America holds a significant market share and is expected to maintain this trend during the forecast period owing to government initiatives to generate clean electricity. However, Asia Pacific is expected to show maximum growth throughout the forecast period due to rising funding by governments for proper management of municipal waste.

According to the report, some of the major key players of the waste to energy market are Abu Dhabi National Energy Company PJSC (TAQA), John Wood Group Plc, Babcock & Wilcox Enterprises, Inc., C&G Ltd., China Everbright International Limited, Covanta Holding Corporation, Suez, Veolia, Waste Management, Inc., and CNIM.

Key Insights from the Waste to Energy Market Report:

• Current emerging trends and opportunities are extensively analyzed in waste to energy market report.

• The forecast of the waste to energy market comes along with additional information associated with opportunities, restrains and key drivers in the market.

The report waste to energy market- segmented by technology and geography

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