Waste to Energy Market is Projected to Reach USD 24.71 Billion By 2025, With 5.41% CAGR From 2019 to 2025

Global Waste to Energy Market Scenario

The global waste to energy market is projected to register an impressive CAGR percentage over the forecast period between 2016 and 2023 as stated by Market Research Future (MRFR). A waste to energy plant is used to convert industrial or municipal solid waste into a form of energy i.e. into electricity or heat. This is an ecologically sound and a highly cost-effective approach for energy recovery. The energy is generated for industrial processing and district heating systems. The plant works by burning the solid waste at an extremely high temperature. The heat of the same produces steam which is subsequently used to drive a turbine that generates electricity.

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Industry Highlights

Recycling of waste products is one of the major waste management solutions that are aiding in generating consumable energy that can be effectively utilized for various industrial as well as domestic purposes. Rapid exhaustion of non-renewable energy sources is generating demand for advanced technology that can harness energy from alternative sources such as waste. High demand for energy as a result of current energy crisis caused due to unprecedented consumption of energy and emergence of management of large amount of waste are majorly propelling the expansion of the global waste to energy market. Incorporation of advanced technology in recycling plants and increased research for development of techniques that can convert waste into energy in cost-effective manner is also contributing to the expansion of the global waste to energy market. However, lack of skilled professionals to operate and maintain waste to energy plants is restraining the expansion of the global market for waste to energy during the review period.

One of the major waste management solutions supporting the generation of consumable energy is the recycling activities of waste products to be then utilized for several domestic as well as industrial purposes. The fast-paced exhaustion of non-renewable energy sources is pushing the demand for various advanced technologies that can leverage energy from alternative sources like waste. The growing demand for energy due to the ongoing energy crises around the world caused due to the extraordinary consumption of energy and the management of large waste materials is pushing the growth of the global market. Also, the integration of advanced form of technology in recycling machineries and the growing R&D activities for the development of new and cost-effective waste to energy conversion techniques is also a key driver of the global market in the coming years.

Global Waste To Energy Market: Key Players

The prime players profiled by Market Research Future (MRFR) that are operating in the global waste to energy market are Waste Management, Inc, C&G Environmental Protection Holdings, Covanta Energy Corporation, Veolia Environment, China Everbright International Limited, and Suez Environment S.A.

Segmental Analysis

The segmental analysis of the waste to energy market has been carried out on the basis of technology, method, and region.

Based on technology, the waste to energy market has been segmented into thermal and biological.

Based on the method the waste to energy market has been segmented into gasification and pyrolysis, incineration, fermentation, and anaerobic digestion.

The regions included in the waste to energy market are Asia Pacific, North America, Europe, South America, Middle East, and Africa.

Regional Analysis

The global waste to energy market is geographically distributed among the following key regions: North America, Europe, South America, the Middle East & Africa, and Asia Pacific.

The Asia Pacific regional market holds the commanding position in the global landscape with a dominant share percentage to its name. The region is further expected to showcase considerable growth in the waste to energy market due to the fast-paced generation of waste in Asia Pacific. The increasing generation of waste materials and subsequently its conversion into energy is due to the expanding population base, increasing consumption of energy, and the prevalent awareness concerning the environment in emerging nations like China, India, and Japan.

The Americas, comprising both North and South America, is another key region in the waste to energy global market. The region holds a key spot in the global standings and is expected to continue its hold due to the expansion of the market herein. The strict rules and regulations imposed by the government in regard to waste management and the deployment of various technologically advanced solutions are factors driving the regional market of North America.

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This release was published on openPR.