Waste-to-Energy Technologies Market

Global Waste-to-Energy Technologies Market Size 2022-2027:

The Global Waste-to-Energy Technologies Market was worth US$ 35.1 billion in 2021 and is anticipated to reach the valuation of US$ 50.1 billion by 2027 and is predicted to register a CAGR of 4.6% during 2022-2027.

Waste to energy (WtE) or energy from waste (EfW) is an energy recovery process and technology for generating energy in the form of heat or electricity from waste that has undergone basic treatment. The majority of WtE processes either directly produce heat or electricity through thermal combustion or generate a combustible fuel commodity, such as methanol, methane, synthetic fuels, or ethanol.

Because of various variables, such as the recovery of metals for recycling, the offset of carbon dioxide from fossil fuel power generation, and the avoidance of methane from landfills, waste to energy plants reduces a considerable amount of harmful emissions. Furthermore, limited landfill space and growing landfilling costs are predicted to boost waste to energy technology's growth as a reliable waste management solution. Over the forecast period, technological improvements in energy recovery are expected to boost market growth by improving the output efficiency of waste to energy plants. Suez, for example, developed the CHP+® method to enable residual heat recovery from waste combustion while also generating captive energy for use in local activities.

Continuing to provide basic waste management services such as rubbish collection and management has become a serious concern for cities experiencing the most COVID-19 impact. Currently, the globe is resuming operations that were paused during the epidemic, and it is predicted that the government will work with the private sector to develop sustainable waste-to-energy solutions through public-private partnerships.

Market Growth:

The growth of the worldwide waste-to-energy industry is being fueled by an increase in demand for incineration and an increase in public WtE spending.

Market Drivers:

One of the primary elements driving the growth of the WTE market is the shrinking landfilling area. To combat the shrinking landfills, various sectors have moved their focus to the production of WTE. Over the last few years, the number of landfills in the United States has decreased, and it is predicted to overtake China as the world's greatest trash generator. A decrease in landfill capacity, on the other hand, may result in an increase in tipping fees. The shifting trend of investing this cash in monitoring industrial pollution and water quality control is another element contributing to the increase in landfill dumping fees.

More countries are turning to cleaner and more efficient sources of power generation and industrial activities as environmental worries about increased carbon emissions from the use of conventional fuels in industries, transportation, and power generation grow. Renewable energy production, waste-to-energy conversion, and energy storage have all emerged as viable alternatives to fossil fuels. As a result, countries have begun to see this as a feasible option for meeting their carbon reduction targets and transitioning to cleaner energy technology. Countries all across the world are developing rules and legislation to encourage the adoption of these technologies.

Market Restraints:

Waste to energy improves process efficiency in a variety of industries and can help power plants generate more electricity. Existing and newly constructed facilities, however, are unable to use these technologies due to their high costs, increasing the economic burden on end users with constrained budgets. Trash to energy systems is typically intended to handle a single or a few types of waste, such as plastic or biomass. Separating different forms of waste and determining the species composition of a waste source can be difficult for businesses. The efficient processing of garbage prior to incineration is one of the current concerns. The majority of waste-to-energy technologies are characterized by low efficiency or lengthy waste-sorting schedules. The collection and processing of accumulated garbage is a time-consuming procedure that will continue to be a barrier to industry expansion in the coming years.

WASTE-TO-ENERGY TECHNOLOGIES MARKET REPORT COVERAGE:

Market Segmentation: 

Global Waste-to-Energy Technologies Market - By Technology:

• Thermal
• Biological

In 2021, the thermal category had the highest revenue share of 82.4 percent, with incineration thermal technology contributing significantly to revenue growth. The growth factor for thermal conversion techniques is a reasonably simple procedure combined with ease of operation. Thermal waste treatment is an environmentally friendly choice for modern cities since it allows for the complete burning of waste gases.

The incineration thermal technique has various advantages, including reduced greenhouse gas emissions, energy conservation, and waste volume reduction. Incineration reduces waste to 10% of its original volume, making it a viable alternative to conventional energy by generating renewable energy for uses such as district heating. Furthermore, the recycling of bottom ash and metal adds to the technology's economic advantages.

Over the forecast period, the biological category is expected to develop at the fastest rate in the waste-to-energy market. The progressive advancement of anaerobic decomposition technologies is responsible for this rise. Governments in a number of developed countries are conducting research and development to improve the economic viability of anaerobic digestion plants. The development of biological conversion of gases to fuels and co-products depends on a number of essential aspects, including advances in reactor design and genetic engineering of organisms.

Environmental concerns and the increased need for cleaner vehicle fuels such as biogas in the transportation industry are driving the biological segment's future growth. Furthermore, anaerobic decomposition is expected to overtake biochemical composting processes in terms of market share for biodegradable trash generated from municipal solid waste.

Global Waste-to-Energy Technologies Market - By Waste Type:

• Municipal Solid Waste
• Process Waste
• Agricultural Waste

The waste to energy market can be divided into municipal solid waste, process waste, agricultural waste, and others based on the waste used for energy generation. Municipal solid waste generates the greatest waste; hence it accounts for the majority of the energy produced.

Market Regional Analysis: 

The Global Waste-to-Energy Technologies Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

In 2021, the European market had the highest revenue share of 43.0 percent. Over the projection period, favorable regulatory policies such as landfill charges, carbon taxes, and direct subsidies to waste-to-energy plants are likely to propel the regional market even further.

Because of rising consumer awareness about environmental preservation and climate change, North America held a significant market share in 2021. Furthermore, as the government places a greater emphasis on integration and increased use of sustainable electricity production sources, waste-to-energy plants are expected to be deployed at a faster rate across the region.

The waste-to-energy market in the Asia Pacific is expected to grow at the quickest rate throughout the forecast period, with China and Japan presenting the most growth potential. Increased government support for municipal solid waste management, as well as increased knowledge about waste to energy facilities in countries like India, Singapore, Indonesia, and Thailand, are expected to fuel regional market expansion.

Market Key Players:

1. Hitachi Zosen Inova AG
2. Suez
3. Covanta Holding Corporation
4. China Everbright International Limited
5. Veolia
6. Abu Dhabi National Energy Company PJSC
7. Ramboll Group A/S
8. Babcock & Wilcox Enterprises, Inc.
9. Wheelabrator Technologies Inc
10. Xcel Energy Inc.

Recent Developments in the Global Waste-to-Energy Technologies Market:

• Yokogawa Electric Corporation stated that it has purchased all of the shares of Dublix Technology ApS, a Danish provider of waste-to-energy (WTE) and biomass power plant efficiency solutions.
• Plans for a £20 million facility to convert waste plastic into hydrogen have been authorized in West Dunbartonshire. The facility, which is only the second of its sort in the UK, has received approval from West Dunbartonshire Council. Peel NRE, a division of Peel L&P, submitted the proposals for the site at Rothesay Dock on Clyde's north bank.