Waste To Energy Market: Global Industry to Reach USD 29187.5 Million by 2026

According to the Facts and Factors, Research Report, the global waste to energy market in 2019 was approximately USD 17940.4 Million. The market is expected to grow above a CAGR of 7.2% and is anticipated to reach over USD 29187.5 Million by 2026.

Energy production technologies dedicated to renewable platforms are contributing at a significant level as a replacement for conventional resources. The waste to energy production technologies involved the production of energy from waste material. This energy is considered as pure as well as renewable. The waste to energy production technologies is intended to serve the municipal corporation in reducing waste as well as the emission from the waste. The energy is recovered in form of electricity or steam. There is primarily two classifications of waste to energy production technologies namely thermal and biological. The thermal energy production technologies involve pyrolysis, gasification, and incineration.

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Waste occupies a significant landmass of usable land. In addition, it also emits toxic elements in the air as well as water bodies, thereby severely affecting environmental elements. Many solutions are been used for the reduction of the environmental impact of the waste. One of the important solutions is the production of energy from waste. The production technologies have been evolving with continuous research and development in the field.

With the rising concern for waste management, the utilization of waste for the production of energy is gaining increased traction among the municipalities. This inclination towards waste utilization is majorly owing to the rising waste been generated worldwide. The rising waste also poses potential hazards to the nearby environment bodies which are additionally catalyzing the demand from the municipalities across the globe.

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Moreover, governments of different countries are supporting and funding environment sustaining solutions. With major investment in smart city projects, waste recycling and energy production are expected to play a vital role in achieving eco-friendly and sustainable objectives.

The thermal technology for waste to energy production is expected to continue its dominance over the period under study. Market dominance is mainly owing to the increasing development and advancements in gasification and incineration technologies. The thermal technology-based WTE is also expected to exhibit the highest growth in the foreseeable future.

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Regionally, Europe is expected to lead the global waste to energy market with Germany, France, and Switzerland contributing highest in the region. The Asia Pacific region is expected to exhibit the highest growth during the forecast period. The demand from major economies in the region such as China, Japan, and India is expected to be the primary growth factor for the Asia Pacific region.

Major players operating in the global waste to energy market covered in this report include Waste Management Inc., Mitsubishi Heavy Industries Ltd, Suez Environment S.A., Construction Industrielles de la Mediterranee (CNIM), C&G Environmental Protection Holdings, A2A SpA, Babcock & Wilcox Enterprises Inv., Hitachi Zosen Corp, China Everbright International Limited, Veolia Environnement SA, and China Jinjiang Environment Holding Company Limited.

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