PUNE, India, May 27, 2021 /PRNewswire/ -- Global demand for (WTE) Waste to Energy Market Size, in terms of revenue, was worth of USD 32.15 Billion in 2017 and is expected to reach USD 49.44 Billion in 2027, growing at a CAGR of 4.4% from 2021 to 2027. The global Waste to Energy is expected to grow at a significant rate due to the number of driving factors.
Waste to energy is the process of generating power in the form of electricity or heat from the treatment conducted on waste. Mostly direct combustion is used to generate power; in some instances, combustible fluid such as methanol and ethanol are produced. Waste to energy services accounts for substantial production of electricity, recoveries and steam of metals annually recycled by combusting tons of solid municipal waste. Furthermore, conversion of waste to energy is becoming a key component of integrated waste management strategies across the globe. Maximum processes of WASTE TO ENERGY generate heat and/or electricity directly through combustion, or produce a combustible fuel commodity, which are methane, methanol, ethanol or synthetic fuels.
Some major key players for global Waste to Energy market report cover prominent players Mitsubishi Heavy Industries Ltd, Hitachi Zosen Inova AG, Waste Management, Inc., Suez, A2A S.p.A., Covanta Holding Corporation, Veolia, China Everbright International Limited, Keppel Seghers, Abu Dhabi National Energy Company PJSC, Covanta Holding Corporation, Ramboll Group A/S.
Increase in demand for incineration process and rise in public Waste to Energy expenditure drives the growth of Waste to Energy Market.
The major factors driving the growth of waste to energy market includes increase in the demand for incineration process and growth in public Waste to Energy expenditure. Moreover, upsurge in learning of consumers to efficient and easy Waste to Energy conversion techniques, such as gasification, pyrolysis, incineration and various Biochemical treatments, including anaerobic digestion and aerobic, is expected to significantly boost the market growth. Additionally, the never-ending waste source of raw materials as well as prohibition of landfills are also expected to support the growth of waste to energy market. However expensive nature of incinerators, mainly as energy prices decline, and a number of plants are unable to cover operating costs are the restrain factors of this market. On the other hand, rising investments as well as R&D activities to ensure the reliability in terms of environmental effects are expected to create ample opportunities in the waste to energy market over the forecast period.
Asia Pacific is expected to Dominate Waste to Energy Market
Asia-Pacific is expected to develop at as substantial rate in the waste-to-energy industry in the past few years. It has dominated the market across the world with increasing efforts taken by the government in providing incentives for waste-to-energy projects, adopting better MSW management practices in the form of financial support for R&D projects on a cost-sharing basis and capital subsidies and feed-in tariffs. Additionally, due to the rapid urbanization and economic development in China, the generation of municipal solid waste (MSW) has been growing rapidly which in turn promote the growth of waste to energy market. North America is also expected to hold the major market share owing to the surge in consumer awareness as well as changing environmental polices followed by rising inclination towards green energy. Thus, all the above-mentioned factors are expected to augment the market growth over the forecast period.
The regions covered in this Waste to Energy Market report are North America, Europe, Asia-Pacific and Rest of the World. On the base of nation level, the marketplace is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, India, China, Japan, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
News: With Capacity of 230 tonnes per day, MHIEC Obtains Order to Construct Waste-to-Energy Plant
December 2nd, 2020 – On this day Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd. (MHIEC), is a part of Mitsubishi Heavy Industries (MHI) Group, has formally settled a contract with the Kashima Regional Administration Association in Ibaraki Prefecture to build and design a combustible waste management facility and has planned for construction in Kamisu city. The project is mainly to combine and replace two present superannuated facilities which was tendered as an open call for proposals, and after review MHIEC was selected to execute engineering, construction and procurement (EPC) as a single main contractor. Completion of this project is scheduled at the end of the 2024 and valued at 13,588 million Japanese yen.
The outbreak of COVID-19 has interrupted the global economy by halting the operations of key industries such as energy generating industries and recycling waste industries. The industries are being kept closed or functioned under restricted environments such as less employees and working times. Lockdown was imposed in many countries such as the U.S., Spain, China, Austria, Korea, Poland, India, Germany, UK, Italy, and France and others. The pandemic resulted in shortage of labour and raw materials in the recycling and energy generating industry. The sternness of the impact may result in closure of some waste to energy manufacturers. Manufacturers had their production stopped due to non- availability of labour. This led to a decrease in production output and thus experiencing economic losses.
This market is segmented on the base of technology and region. Furthermore, on the basis of technology, the market is divided into thermal, biochemical, and others.
Global Waste to Energy Market Segmentation: -
Key Benefits for Waste to Energy Market Report:
Waste to Energy Market report covers in-depth historical and forecast analysis.
Waste to Energy Marketplace research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
Waste to Energy Market report helps to identify opportunities in marketplace.
Waste to Energy Market report covers extensive analysis of emerging trends and competitive landscape.
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