Waste to Energy (WTE) Market is anticipated to worth USD 35,395 million by 2025, with a CAGR of 5.46% during 2019-2025
Published | April 2019
According to BlueWeave Consulting, the Global Waste to Energy (WTE) Market is anticipated to worth USD 35,395 million by 2025, with a CAGR of 5.46% during 2019-2025. Increasing electricity demand, together with a growing dependency on renewable sources to produce energy due to depleting petrochemical reserves, is probably going to drive waste to energy market over the forecast timeframe. As of 2015, more than 50% of the global population lives in urban areas and, therefore, accelerating municipal solid waste accumulation. Garbage has been a worrying cause for native governing bodies, mostly in developing areas.
Government organizations have been supporting the growth by giving relaxation on taxes as well as providing incentives. Favorable government regulations in the form of tax benefits and financial incentives have had a positive influence on the growth of this market. Waste to Energy is expected to solve the environmental problems related to waste by reducing the volume and decreasing greenhouse gas emissions. The rise in economic development is anticipated to lead to the rising municipal domestic waste, and henceforth will drive the demand for waste to the energy market. A shift in focus towards substitutes like coal with renewable resources to cut back carbon content is also expected to play a vital role in shaping the industry.
Among technology, thermal technology accounts for the largest market size in the global Waste to Energy (WTE) market during the forecast period.
Thermal technology is the dominating segment over the forecast period and estimated to lead the market over the forecast period. Thermal-based incineration technology is the leading segment in the overall waste to the energy market. Health concerns due to the emission of flue gasses via thermal WTE technology have been a major challenge for the industry over the recent past. The pyrolysis, gasification, and plasma arc gasification thermal technologies are expected to lower carbon emissions. Moreover, a shift in trend towards replacing conventional Energy generating from fossil fuels with renewable energy to ensure energy security and reduce carbon emissions are potential factors to drive industry growth. The biological method of energy management is projected to show robust growth over the forecast period.
Europe accounts for the largest share of the Global Waste to Energy (WTE) market during the forecast period.
Geographically, Europe dominated the overall waste to the energy market and projected to lead the market over the forecast period Increasing solid waste in the developing and emerging countries has resulted in rising public concern relating to the subsequent health and environmental impacts. Owing to the high generation of industrial waste coupled with stringent EU-wide waste legislation has led to accelerated market growth in the region. Rising energy demand, the growing industrialization, is also a trend saw in recent years, which is expected to enhance product demand over the coming years. Asia Pacific is projected to be the fastest-growing market led by Japan and China.
Browse Detailed TOC,“Global Waste To Energy (WTE) Market By Technology (Thermal [Incineration, Gasification, Pyrolysis], And Biological), By Region (North America, Europe, Asia Pacific, Middle East & Africa And Latin America), Trend Analysis, Competitive Market Share And Forecast, 2015-2025”
Global Waste to Energy Market (WTE): Competitive Landscape
Companies such as Mitsubishi Heavy Industries Ltd, Waste Management Inc., A2A SpA, Veolia, Hitachi Zosen Inova AG, MVV Energie AG, Keppel Seghers, Babcock & Wilcox Vølund A/S, Ramboll Group A/S, ARX Arcillex SA, Xcel Energy Inc., Wheelabrator Technologies Inc., Covanta Holding Corporation, C&G Environmental Protection Holdings Ltd., China Everbright International Ltd., Green Conversion Systems LLC, Foster Wheeler AG, Jansen Combustion & Boiler Technologies, Plasco Energy Group Inc., and Veolia Environment SA are the leading players of Waste to Energy market across the globe.