The report “Waste to Energy Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth. The report describes Waste to Energy Market size, historical trends, industry advancements, segmentation analysis, new opportunities, factors controlling the market, and developments. The report analysts have provided a detailed Waste to Energy Market segmentation assessment of the market based on type, application, and geography. Client needs with an understanding of market capacities are ensured in this analytical study.
According to the research report, the global waste to energy market was valued at USD 24.84 billion in 2022 and is expected to reach USD 48.13 billion by 2032, to grow at a CAGR of 6.9% during the forecast period.
Waste-to-energy (WTE) is a process that turns waste into energy, reducing the dependence on fossil fuels like coal for energy production. To lessen their dependency on fossil fuels, nations all around the world are making investments in renewable energy sources. For instance, in January 2023, SAEL, an Indian solar and agricultural waste-to-energy startup, will get a USD 60.5 million investment from Norfund. By incorporating 100 MW of new biomass and 400 MW of additional solar power into its current 600 MW portfolio, the investment will assist SAEL in achieving its goal of increasing its renewable portfolio to 3 GW by 2028. The investment’s main goal is to aid New Delhi and the surrounding states in reducing air pollution, which gets worse as particulate matter in the air gets higher.
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Top Key Players:
- Abu Dhabi National Energy Company PJSC
- Babcock & Wilcox Enterprises Inc.
- Covanta Holding Corporation
- Constructions industrielles de la Méditerranée (CNIM)
- China Everbright International Limited
- Future Biogas Limited
- Hitachi Zosen Inova AG
- Keppel Corporation Limited
- Ramboll Group A/S
- STEAG GmbH
- Gazasia Ltd
- SUEZ
- Veolia
- Wheelabrator Technologies Inc.
- Xcel Energy Inc
Moreover, favorable incentives and programs have been implemented in every region to encourage efficient garbage collection and processing, which has significantly increased the potential for the waste-to-energy sector. Countries like China, India, the U.S., and countries in the EU have implemented policies including feed-in tariffs, tax credits, and capital subsidies for waste-to-energy. In October 2022, according to the Dubai Municipality, the largest waste-to-energy project in the world had 85% of its building work finished.
The world’s most efficient energy project’s first phase is expected to be completed by 2023, and construction of the waste management center is progressing according to plan. By 2024, the full project is expected to be completed. The Indian government is supporting waste-to-energy through a variety of subsidies and incentives since it sees it as a renewable technology. Therefore, government targets, programs, and investment in WTE are driving the growth of the market rapidly.
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Additionally, technology alternatives for energy recovery from municipal and industrial waste are aggressively promoted by the Ministry of New and Renewable Energy (MNRE). More community involvement in waste collecting is made possible by the digitization of waste collection and trading of these sorted products. Waste management facilities equipped with a Programmable Logic Controller (PLC) and Supervisory Control and Data Acquisition (SCADA) monitoring system could be automatically monitored and controlled from a centralized control station to assure effectiveness and less manual work. As a result, the use of digital technologies in garbage collection and disposal processes will not only supply information but also enhance data quality and give process operators better insights into a waste stream.
Waste to Energy Market Report Highlights
- The biological segment is anticipated to grow at a high CAGR over the forecast period. Environmental concerns and the rising need for cleaner vehicle fuels, like biogas, in the transportation sector can be linked to the biological segment’s future growth.
- The heat segment accounted for highest global revenue share. In both domestic and commercial settings, the creation of heat from waste is frequently used for various heating purposes.
- North America is expected to grow rapidly over the projected period due to the governments having been compelled to create strict restrictions prohibiting the landfilling of MSW as a result of rising home and industrial garbage.
Polaris Market Research has segmented the waste to energy market report based on technology, waste type, application, and region:
Waste to Energy, Technology Outlook (Revenue – USD Billion, 2019 – 2032)
- Thermal
- Incineration
- Pyrolysis
- Gasification
- Biological
- Others
Waste to Energy, Waste Type Outlook (Revenue – USD Billion, 2019 – 2032)
- Municipal Solid Waste
- Process Waste
- Agriculture Waste
- Others
Waste to Energy, Application Outlook (Revenue – USD Billion, 2019 – 2032)
- Electricity
- Heat
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