The Global Waste-to-Energy Market to Garner $53.745 Billion by 2027

According to a Triton Market Research report, the global waste-to-energy market, which accounted for $31.673 billion in 2018, is anticipated to register a CAGR of 6.09% by the year 2027.

A recent study by Triton Market Research titled 'Global Waste-to-Energy Market' covers the Global Analysis and Forecast for 2019-2027 by Technology (Biological, Thermal, Physical), by Type of Waste (Agriculture Waste, Municipal Waste [Commercial & Institutional, Residential, Construction & Demolition, Other Municipal Wastes], Medical Waste, Process Waste, Other Wastes), by Application (Heat, Transport Fuels, Electricity, Combined Heat & Power Units, Other Applications) and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

The ever increasing demand for energy can be fulfilled by generating energy from unwanted waste. This can solve both problems at once - the treatment of non-reusable & non-recyclable waste and the generation of a considerable amount of energy. The waste-to-energy (WtE) technology development and implementation can lead to proper waste treatment strategy and eco-friendly energy production.

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According to the report, the Global Waste-to-Energy Market is anticipated to generate $53.745 billion by 2027 at a CAGR of 6.09% over the estimated period from 2019 to 2027. The major factors driving this market include the growing demand for energy, increasing need for energy security, considerable investment in the new WtE projects, the increasing municipal waste due to rapid urbanization & industrialization and the declining number of landfill sites. However, stringent environmental guidelines, the huge set-up cost and the availability of alternate technologies are restraining its growth over the forecast period.

Based on technology, the waste-to-energy market is categorized into biological, thermal and physical. According to the type of waste, the market is segmented according to agriculture waste, municipal waste, medical waste, process waste and other wastes. Municipal waste is further segmented into commercial & institutional, residential, construction & demolition and other municipal wastes. Whereas, considering application-wise, the market is categorized into heat, transport fuels, electricity, combined heat & power units and other applications.

Considering the regional landscape, the North America waste-to-energy market is expected to witness the fastest growth over the forthcoming years. The major factors driving this growth are the rising pollution & decline of fossil fuels in the region, the increasing energy prices and the rising emphasis on efficient energy generation. Moreover, as North America is home to several industries and firms across different sectors, a considerable amount of agricultural, industrial and hazardous waste is generated.

On the other hand, Europe is expected to be the largest Waste-to-Energy market, contributing approximately half of the total global revenue. Strict government regulations towards reduction of carbon footprints and the increasing need to secure energy is propelling the market growth in the region. Besides, the presence of some of the top companies operating globally in the WtE market will contribute to the market growth. The increasing investments made by the private firms and international institutions are also aiding the growth of Waste-to-Energy market in Europe.

The notable companies in the waste-to-energy market include John Wood Group PLC, Babcock & Wilcox Enterprises Inc, China Everbright International Limited, Covanta Holding Corporation, Hitachi Zosen Corporation, Keppel Seghers, Mitsubishi Heavy Industries Ltd, Plasco Conversion Technologies Inc, Veolia and Wheelabrator Technologies Inc.

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Question & Answer: Waste-to-Energy Market

Question 1: What is driving the growth of the waste-to-energy (WtE) market?
Answer: The major factors driving this market include the growing demand for energy, increasing need for energy security, considerable investment in the new WtE projects, the increasing municipal waste due to rapid urbanization & industrialization and the declining number of landfill sites.

Question 2: Which key factors are expected to impede the waste-to-energy market growth?
Answer: Stringent environmental guidelines, the huge set-up cost and the availability of alternate technologies are restraining its growth over the forecast period.

Question 3: How are North America and Europe influencing the Waste-to-Energy market outlook?
Answer: Considering the regional landscape, the North America Waste-to-Energy market is expected to witness the fastest growth over the forthcoming years. The major factors driving this growth are the rising pollution & decline of fossil fuels in the region, the increasing energy prices and the rising emphasis on efficient energy generation. Moreover, as North America is home to several industries and firms across different sectors, a considerable amount of agricultural, industrial and hazardous waste is generated.

On the other hand, Europe is expected to be the largest Waste-to-Energy market, contributing approximately half of the total global revenue. Strict government regulations towards reduction of carbon footprints and the increasing need to secure energy is propelling the market growth in the region. Besides, the presence of some of the top companies operating globally in the WtE market will contribute to the market growth. The increasing investments made by the private firms and international institutions are also aiding the growth of Waste-to-Energy market in Europe.

Question 4: Which firms constitute the competitive outlook of the waste-to-energy market?
Answer: The notable companies in the waste-to-energy market include John Wood Group PLC, Babcock & Wilcox Enterprises Inc, China Everbright International Limited, Covanta Holding Corporation, Hitachi Zosen Corporation, Keppel Seghers, Mitsubishi Heavy Industries Ltd, Plasco Conversion Technologies Inc, Veolia and Wheelabrator Technologies Inc.

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Global Energy Harvesting Market

The global energy harvesting market is set to witness revenue growth at $945.55 million by 2028, exhibiting a CAGR of 10.15% during the forecasting years 2020-2028.

The rising demand for sensors by the smart cities and the advancements in the manufacturing industry are driving the market growth. Besides, the increasing implementation of IoT in automation is expected to complement the business outlook.

The commendable growth in the wearable industry will push the demand for sensors further, thereby creating more business opportunities for the energy harvesting market. Growing awareness about the benefits of wave energy harvesters compared to other methods like ocean thermal energy conversion, saline mechanisms and tidal power will aid the market growth.

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