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Saudi Arabia Waste To Energy Market

Saudi Arabia Waste To Energy Market

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Saudi Arabia Waste to Energy (WtE) Market, By Technology (Thermochemical, Biochemical, Others); By Waste Type (Municipal Solid Waste, Process Waste, Agriculture Waste, Others); By Application (Electricity, Heat), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: June 2024
  • Report ID: BWC24482
  • Available Format: PDF
  • Page: 200

Report Overview

Rapid urbanization and industrialization, growing population, and rising consumption levels generating voluminous municipal solid waste (MSW) are expected to boost the growth of Saudi Arabia Waste to Energy (WtE) Market during the forecast period between 2024 and 2030.

Saudi Arabia Waste to Energy (WtE) Market - Industry Trends & Forecast Report, 2030

Saudi Arabia Waste to Energy (WtE) Market size was estimated to be worth USD 286.38 million in 2023. During the forecast period between 2024 and 2030, Saudi Arabia Waste to Energy (WtE) Market size is projected to grow at a CAGR of 6.03%, reaching a value of USD 371.83 million by 2030. Major growth factors for Saudi Arabia Waste to Energy (WtE) Market include stringent government regulations and policies to stimulate proper waste disposal and management in the Kingdom and meet the growing energy demands from the major end-user industries. In addition, increasing levels of municipal solid waste owing to the rising population are also driving the growth of the Saudi Arabia Waste to Energy (WtE) Market.

Saudi Arabia Waste to Energy Market

Waste to Energy (WtE) – Overview

Waste to Energy (WtE) refers to the industry within a country's energy and waste management sector that involves converting various forms of waste into usable energy, typically in the form of electricity and heat. Waste to Energy (WtE) technologies offer a sustainable and environmentally friendly solution to two critical challenges: waste disposal and energy generation. Various types of waste materials, such as municipal solid waste (MSW), industrial waste, agricultural residue, and biomass, are utilized as feedstock in this sector. These waste materials are processed using different conversion methods, including incineration, anaerobic digestion, gasification, and pyrolysis, among others. The primary objective of the Waste to Energy (WtE) sector is twofold: first, to reduce the volume of waste going into landfills and thus alleviate the strain on existing landfill capacity, and second, to produce clean and renewable energy from the waste stream.

Saudi Arabia Waste to Energy (WtE) Market

Growth Drivers

Rising Industrialization and Urbanization

The rising population coupled with rapid urbanization and industrialization results in rising energy demand and significant waste generation in Saudi Arabia. According to reports, Saudi Arabia generates more than 110 million tons of waste annually, which demands efficient waste management in the Kingdom. As a result, both the government as well as private industry players are investing in the Waste to Energy (WtE) to efficiently handle waste and reach their sustainable goals by reducing the burden on landfills. Saudi Arabia plans to convert 16% of its Waste to Energy (WtE) by 2040, which is anticipated to drive the market over the forecast period.

Challenges

High Capital Requirement to Establish Waste to Energy (WtE) Plants

Waste to energy (WtE) processes are being used by the Saudi government and associated agencies to improve the Kingdom's waste management. However, the Saudi Arabian WtE sector is severely constrained by the high cost of building WtE plants. As Saudi Arabia is a global major in the producing of oil & gas, using waste as a fuel is less cost effective than fossil fuels for waste management and energy production. Moreover, building a WtE factory with an annual capacity of 40,000 tons would cost about USD 41 million. Consequently, the WtE industry's ability to grow is constrained by its reliance on funding from the government or large corporations.

Saudi Arabia Waste to Energy (WtE) Market

Segmental Coverage

Saudi Arabia Waste to Energy (WtE) Market – By Technology

On the basis of technology, Saudi Arabia Waste to Energy (WtE) Market is segmented into thermochemical, biochemical, and others. The thermochemical segment holds the largest share in the Saudi Arabia Waste to Energy (WtE) market. The segment is further classified into incineration, pyrolysis, and gasification. Municipal solid waste incineration, or MSWI, is a controlled burning process that is carried out in facilities specifically built to reduce waste volume and bulk while chemically converting it to inert gas through combustion (autothermic combustion) without the need for additional fuel. In addition to treating municipal and industrial solid waste and producing power, MSWI is a proven and effective technology in commercial applications as it enables the recovery of energy, minerals, and metals from the waste stream.

Saudi Arabia Waste to Energy (WtE) Market – By Waste Type

Based on waste type, Saudi Arabia Waste to Energy (WtE) Market is segmented into municipal solid waste, process waste, agriculture waste, and others. The municipal solid waste segment accounts for the highest market share owing to the high volume of waste generated in this sector. According to EcoMENA, Saudi Arabia generates around 15 million tons of municipal solid waste each year, with a per capita average of 1.4 kg per day. The growing population, rapid urbanization, and economic growth are associated with the increasing volume of municipal waste in the country, which is eventually degrading the environment. As a result, the need for efficient waste management is rising, which is driving the demand for WtE services.

Saudi Arabia Waste to Energy (WtE) Market – By Application

By application, Saudi Arabia Waste to Energy (WtE) Market is segmented into electricity and heat. The electricity segment dominates Saudi Arabia Waste to Energy (WtE) Market. The rising focus on sustainability and reducing CO2 emissions and the rising demand for clean energy directly influence the growth of the segment. Furthermore, an increasingly high demand for electricity from major end users in the Kingdom due to rapid economic growth is also driving the demand for WtE market which is driving the market. However, the heat segment also covers a major market owing to its high demand from the residential and industrial sectors.

Saudi Arabia Waste to Energy Market Size

Competitive Landscape

Major players operating in Saudi Arabia Waste to Energy (WtE) Market include Sembcorp Industries, Abu Dhabi National Energy Company PJSC (TAQA), Veolia Environnement S.A., Hitachi Zosen Corporation, Babcock & Wilcox, Masdar, Abengoa, BEE'AH BEE'AH Group, Suez Environnement Company, and Ramboll. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In November 2023 – Riyadh Cement Company, a cement manufacturer based in Riyadh, Saudi Arabia, announced its partnership of SAR 130 million (approximately USD 34.8 million) with Sinoma Energy Conservation Limited, an engineering services company based in China, to establish a waste heat recovery plant in the Kingdom.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Million

Product/ Service Segmentation

Technology, Waste Type, Application

Key Players

Sembcorp Industries, Abu Dhabi National Energy Company PJSC (TAQA), Veolia Environment S.A., Hitachi Zosen Corporation, Babcock & Wilcox, Masdar, Abengoa, BEEAH Group, Suez Environnement Company, Ramboll

 

By Technology

  • Thermochemical

  • Incineration

  • Pyrolysis

  • Gasification

  • Biochemical

  • Others

By Waste Type

  • Municipal Solid Waste

  • Process Waste

  • Agriculture Waste

  • Others

By Application

  • Electricity

  • Heat

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Saudi Arabia Waste to Energy (WtE) Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Saudi Arabia's Population Growth and Rising Consumption Levels Increase in Municipal Solid Waste (MSW).
        2. WtE Plants can Contribute to Diversification by Generating Clean Energy from Waste.
        3. Existing Landfills are Nearing Capacity, Prompting the Need for Alternative Waste Management Strategies
        4. Government Vision 2030 Prioritizes Waste Reduction and Sustainable Energy Development
      2. Restraints
        1. Establishing WtE Plants Requires Substantial Investments in Advanced Technology and Infrastructure.
        2. Concerns Around Air Pollution Emissions and Ash Management
        3. Lack of Waste Segregation
      3. Opportunities
        1. Technological Advancements
        2. WtE Plants Contribute to Reducing Greenhouse Gas Emissions, making them Attractive in the Carbon Credit Market.
        3. Collaboration between the Government and Private Sector
      4. Challenges
        1. Competition from Existing Landfills
        2. Grid Connection Challenges
        3. Skilled Labor Shortage
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Saudi Arabia Waste to Energy (WtE) Market: Marketing Strategies
  5. Saudi Arabia Waste to Energy (WtE) Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Technology
        1. Thermochemical
          1. Incineration
          2. Pyrolysis
          3. Gasification
        2. Biochemical
        3. Others
      2. By Waste Type
        1. Municipal Solid Waste
        2. Process Waste
        3. Agriculture Waste
        4. Others
      3. By Application
        1. Electricity
        2. Heat
  6.  Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Saudi Arabia Waste to Energy (WtE) Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  7. Impact of Escalating Geopolitical Tensions on Saudi Arabia Waste to Energy (WtE) Market
  8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Sembcorp Industries
    2. Abu Dhabi National Energy Company PJSC (TAQA)
    3. Veolia Environment S.A.
    4. Hitachi Zosen Corporation
    5. Babcock & Wilcox
    6. Masdar
    7. Abengoa
    8. BEEAH Group
    9. Suez Environnement Company
    10. Ramboll
    11. Other Prominent Players
  9. Key Strategic Recommendations
  10. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

 

List of Figures

 

Figure 1       Saudi Arabia Waste to Energy (WtE) Segmentation

Figure 2       Saudi Arabia Waste to Energy (WtE) Market Value Chain Analysis        

Figure 3       Company Market Share Analysis, 2023

Figure 4       Saudi Arabia Waste to Energy (WtE) Market Share, By Technology, By Value (USD Million), 2019–2030       

Figure 5       Saudi Arabia Waste to Energy (WtE) Market Share, By Waste Type, By Value, 2019–2030 

Figure 6       Saudi Arabia Waste to Energy (WtE) Market Share, By Application, By Value, 2019–2030          

 

List of Tables

 

Table 1        Saudi Arabia Waste to Energy (WtE) Market Share, By Technology, By Value (USD Million), 2019–2030       

Table 2        Saudi Arabia Waste to Energy (WtE) Market Share, By Waste Type, By Value, 2019–2030 

Table 3        Saudi Arabia Waste to Energy (WtE) Market Share, By Application, By Value, 2019–2030          

Table 4        Sembcorp Industries Company Overview

Table 5        Sembcorp Industries Financial Overview

Table 6        Abu Dhabi National Energy Company PJSC (TAQA) Company Overview

Table 7        Abu Dhabi National Energy Company PJSC (TAQA) Financial Overview

Table 8        Veolia Environment S.A. Company Overview

Table 9        Veolia Environment S.A. Financial Overview

Table 10      Hitachi Zosen Corporation Company Overview

Table 11      Hitachi Zosen Corporation Financial Overview

Table 12      Babcock & Wilcox Company Overview

Table 13      Babcock & Wilcox Financial Overview

Table 14      Masdar Company Overview

Table 15      Masdar Financial Overview

Table 16      Abengoa Company Overview

Table 17      Abengoa Financial Overview

Table 18      BEEAH Group Company Overview

Table 19      BEEAH Group Financial Overview

Table 20      Suez Environnement Company: Company Overview

Table 21      Suez Environnement Company Financial Overview

Table 22      Ramboll Company Overview

Table 23      Ramboll Financial Overview

Table 24      Other Prominent Players Company Overview

Table 25      Other Prominent Players Financial Overview

Market Segmentation

No data available
No data available

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Frequently Asked Questions (FAQs):

Ans: Saudi Arabia Waste to Energy (WtE) Market size was estimated at USD 286.38 million in 2023.
Ans: Saudi Arabia Waste to Energy (WtE) Market size is expected to grow at a CAGR of 6.03% during the forecast period between 2024 and 2030.
Ans: Saudi Arabia Waste to Energy (WtE) Market size is forecast to reach a value of USD 371.83 million by 2030.
Ans: Major factors driving the growth of Saudi Arabia Waste to Energy (WtE) Market include population growth and rising consumption levels increase in municipal solid waste (MSW) and increasing the need for alternative waste management strategies.
Ans: The municipal solid waste segment holds the highest market share in Saudi Arabia Waste to Energy (WtE) Market by waste type.
Ans: The electricity segment is expected to grow at a faster CAGR in Saudi Arabia Waste to Energy (WtE) Market by application during the forecast period between 2024 and 2030.