Waste To Energy Market to grow by USD 23.13 billion from 2022 to 2027 | Increasing awareness about climate change to boost the market growth- Technavio

NEW YORK, Aug. 23, 2023 /PRNewswire/ -- The waste-to-energy market size is expected to grow by USD 23,.13 billion from 2022 to 2027, progressing at a CAGR of over 6.55% as per the latest Technavio market research report. Europe is going to have lucrative growth during the forecast period. About 43% of the market's overall growth is expected to originate from Europe. One of the main factors which are significantly contributing to the global waste-to-energy market growth in Europe is due to the several countries seeking to minimize their dependence on fossil fuels and using their renewable energy sources. Some of the various processes by which waste energy technology converts solid waste into energy include incineration, gasification, and pyrolysis. There is an increasing development of a mature waste-to-energy industry in several countries such as Germany, France, the UK, Sweden, Denmark, and the Netherlands which is expected to drive market growth in Europe during the forecast period. For more insights on the market share of various regions- Download sample report in MINUTES

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Waste To Energy Market: Market Dynamics

Key Drivers

The growing awareness regarding climate change drives the market growth during the forecast period. 

Major Trends

Rising waste generation for waste to energy conversion is an emerging trend in the market during the forecast period. 

Significant Challenges

The high operating and maintenance costs of waste to energy plants are a major challenge hindering the market growth during the forecast period. Factors such as high investment for the construction of waste-to-energy plants, high electricity prices, and increased cost of waste processing when compared to conventional waste disposal methods are negatively impacting the market growth. Some of the main processes involved in processing include sorting, shredding, and incineration, and these plants must handle different types of waste. Furthermore, the cost of maintenance of the equipment by complying with the environmental regulations adds to the total cost. Hence, such factors are hindering the market growth during the forecast period.

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Some of the key Waste To Energy Market Players:

The waste-to-energy market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

A2A Spa, Abu Dhabi National Energy Company PJSC, Babcock and Wilcox Enterprises Inc., BlueFire Renewables Inc., China Everbright Environment Group Ltd., China Jinjiang Environment Holding Co. Ltd, CNIM SA, Covanta Holding Corp., Ener Core Inc., Future Biogas Ltd., Hitachi Zosen Corp., John Wood Group PLC, Keppel Corp. Ltd., MARTIN GmbH,  Meridiam SAS, Mitsubishi Heavy Industries Ltd., MVV Energie AG, Veolia Environnement SA, Waste Management Inc., and Wheelabrator Technologies Holdings Inc.

Waste To Energy Market: Segmentation Analysis

The market is segmented by technology (thermal and biological), application (electricity and heat), and geography (Europe, APAC, North America, Middle East and Africa, and South America).

The growth of the thermal segment in the global waste-to-energy market is significant during the forecast period. One of the main technology used in the waste-to-energy market is the thermal segment. This technology mainly comprises the utilization of heat to convert waste into energy. Some of the main classifications in this segment include incineration, gasification, pyrolysis, and plasma arc gasification. In the incineration segment, the burning of waste at high temperatures generates steam which is used to generate electricity. Hence, such benefits are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

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Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Table of Contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Technology

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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