IMARC Group, a leading market research company, has recently releases report titled Global Waste to Energy Market Report 2023: Industry Insights By Growth, Size, Share and Analysis Forecast till 2028. The study provides a detailed analysis of the industry, including the global waste to energy market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the waste to energy market?
The global waste to energy market size reached US$ 41.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 59.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.99% during 2023-2028.
What is Waste to Energy?
Waste-to-energy (WTE) is the transformative process of converting diverse waste materials into practical forms of energy, including electricity, heat, or fuel. This conversion occurs through methods like combustion, gasification, devolatilization, anaerobic digestion, and landfill gas recovery. WTE serves as a waste management technique, seeking to diminish waste volume, mitigate the environmental consequences of waste disposal, and produce renewable energy. Crucially, it captures methane from organic waste, reducing greenhouse gas emissions and offering a sustainable energy source, thus countering the reliance on fossil fuels.
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What are the growth prospects and trends in the waste to energy industry?
The global demand for waste-to-energy (WTE) is propelled by rapid industrialization and the increasing need for energy-efficient industrial processes across various sectors. Additionally, numerous non-governmental organizations (NGOs) are actively collaborating with governing agencies, raising awareness about the detrimental effects of escalating waste volume. Concurrently, governmental initiatives in many countries to curb illegal disposal and reuse of waste materials are contributing to market expansion.
Furthermore, the introduction of hydrothermal carbonization (HTC) has accelerated the slow geothermal conversion of wet waste. This process, which involves an acid catalyst under high pressure, is enhancing market growth by providing an efficient solution for waste management.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Thermal
- Incineration
- Pyrolysis
- Gasification
- Biochemical
- Others
Breakup by Waste Type:
- Municipal Waste
- Process Waste
- Agriculture Waste
- Medical Waste
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
A2A SpA, Babcock Wilcox Enterprises, Inc., China Everbright International Limited, CNIM, Covanta Holding Corporation, Hitachi Zosen Inova AG, John Wood Group plc, Mitsubishi Heavy Industries Ltd, Ramboll Group A/S, Veolia Environnement S.A. and WIN Waste Innovations.
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