U.S. & Canada Waste-to-Energy Market - Current Insight with Future Aspect Analysis

Waste-to-energy is one of the most effective and robust alternative sources of energy, which helps in the reduction of CO2 emissions and thus replace the use of fossil fuels. Using waste as a combustion substance is expected to reduce landfill volumes by more than 90%. For every ton of waste burned, one ton of CO2 emission is reduced, which further helps in eliminating methane, which could be leaked with landfill disposal. This factor is anticipated to increase the demand for U.S. & Canadian waste-to-energy markets.

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The U.S. and Canada waste-to-energy market is growing due to a surge in demand for renewable sources of energy in these regions, as well as an increase in investment by governments to enhance energy production. Further, regulations implemented to reduce carbon content are further anticipated to boost the overall growth of the market. However, high costs associated with plant installation and infrastructure of expensive components are expected to hamper the overall market growth.

On the basis of type of technology, the thermal type of waste-to-energy market accounted for the highest U.S. & Canada waste-to-energy market share in the year 2018 and is projected to maintain the same during the forecast period. This is owing to an increase in demand for thermal gasification in energy generation from waste materials due to the rise in demand for clean energy across the countries.

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Furthermore, U.S. & Canada waste-to-energy market trends such as rapid urbanization and an upsurge in the production of various renewable energy sources including biomass and other are expected to boost the growth of the market. The incineration segment was valued at $859.4 million in 2018 and is projected to reach $1,380.6 million by 2026, growing at a CAGR of 6.1% from 2019 to 2026. The incineration segment accounted for around half of the thermal technology segment in 2018, owing to the perennial modifications in the market and efficient techniques & processes, which are in high demand across the globe. Thus, an increase in the requirement for high-tech waste-to-energy conversion methods fuels the U.S. and Canada's waste-to-energy market growth.

On the basis of the country, The U.S. waste-to-energy market accounted for the highest market share in terms of revenue, was valued at $1,787.4 million in 2018, and is projected to reach $2,855.4 million by 2026, growing at a CAGR of 6.0% from 2019 to 2026. This is owing to the rise in energy prices, coupled with an increase in consumer focus to use the generated energy efficiently. The Canadian waste-to-energy market is growing at the highest CAGR of 6.3% during the projected timeframe.

John Wood Group PLC, Babcock & Wilcox Enterprises, Inc., Covanta Holding Corporation, Waste Management, Inc., Mitsubishi Heavy Industries, Plasco Energy Group, Inc., Xcel Energy, Inc., Wheelabrator Technologies Inc., BlueFire Renewables, Ener-Core, Inc. are the key player profiles included in the U.S. & Canada waste-to-energy market report.

Other players operating in the value chain include Global Clean Energy, Inc., Natural Energy Systems, Inc., Greenlight Energy Solutions, International Composting Corporation, and WaterSmart Environmental, Inc.

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Key Findings Of The Study:

• By type of technology, the biochemical segment is anticipated to grow at the highest CAGR of 6.6% during the forecast period and is anticipated to maintain the same pace.
• By country, the U.S. was the largest revenue contributor to the waste-to-energy market in 2018
• Canada's waste-to-energy market is growing at the highest CAGR of 6.3% during 2019-2026 owing to a rise in energy demand and a reduction in dependence on fossil fuels.

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