Waste To Energy Market 2024-2033 - Growth, Trends & Industry Forecast

"The Business Research Company recently released a comprehensive report on the Global Waste To Energy Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The waste to energy market size has grown strongly in recent years. It will grow from $35.44 billion in 2023 to $37.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to waste management challenges, energy security, regulatory incentives, public awareness, urbanization trends.

The waste to energy market size is expected to see strong growth in the next few years. It will grow to $49.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to circular economy initiatives, stricter environmental regulations, global commitment to renewable energy, technological integration with waste sorting, growing urbanization and waste generation. Major trends in the forecast period include increased emphasis on decentralized systems, collaboration with public and private sectors, advancements in technology, utilization of non-incineration technologies, strategic investments in research and development.

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Market Drivers and Trends:

The increasing amount of generated waste is expected to propel the growth of waste-to-energy market going forward. The rising amount of waste directly boosts the waste-to-energy market by providing an increasing and consistent feedstock for energy production. As the volume of waste grows, there is a greater availability of raw materials for waste-to-energy technologies. This abundance of waste feedstock creates market opportunities for the waste-to-energy sector, as these technologies can efficiently convert the escalating waste levels into valuable energy resources. For instance, in February 2022, according to an article published by the World Bank, a US-based international organization that provides financing, advice, and research to developing nations, the waste generated in 2020 was estimated to be 2.24 billion tons of solid waste, which amounted to a footprint of 0.97 kilograms of waste per person per day. Furthermore, with the rapid growth of population and urbanization, annual waste generation is set to see an increase of 73%, amounting to 3.88 billion tons by 2050. Therefore, the increasing amount of waste is driving the growth of the hazardous waste handling automation market.

Technological advancements are emerged as a key trend gaining popularity in the waste-to-energy market. Major companies operating in the waste-to-energy market are focused on innovating new technologies to sustain their position in the market. For instance, in September 2022, Waste Fuel Solutions, a US-based developer of bio-refineries that are focused on converting municipal solid waste into low-carbon fuels, launched the WasteFuel Methanol technology. The WasteFuel Methanol technology is designed to produce up to 100 metric tons per day of fuel-grade methanol from a variety of waste sources, including landfill gas and biogas from anaerobic digestion. The process is designed in a modular fashion to improve the overall utilization of resources and allow for cost-effective, quick scaling. This technology will be built efficiently where waste is located and will scale production efficiently and rapidly to meet the shipping industry's growing demand for green methanol.

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Major Key Players of the Market:

PayPal Holdings Inc., Fiserv Inc., Global Payments Inc., Mastercard Incorporated, Square Inc., Visa Inc., Paysafe Ltd., FIS Inc., ACI Worldwide Inc., Wirecard CEE, Jack Henry and Associates Inc., Stripe Inc., PayU LLC, CCBill LLC, Authorize.Net, Nelnet Business Solutions Inc., Rapyd Financial Network Ltd., Dwolla Inc., U.S. Bank National Association Inc., GoCardless Ltd., Melio Inc., Amazon Payments Inc., Podium Corporation, BlueSnap Inc., JPMorgan Chase & Co., Stax Inc., Payline Data LLC, Dharma Merchant Services LLC, Helcim Inc., Shopify Inc., Payoneer Inc., Gusto Holdings Inc., Freedom Financial Network LLC, Adyen N.V., Worldpay LLC, CyberSource Corporation, PaySimple Inc., PayJunction Inc., Paycor Inc., Paycom Software Inc., Heartland Payment Systems LLC, BluePay Processing LLC, Global Payments Inc., Vantiv LLC, Braintree LLC

Waste To Energy Market 2024 Key Insights:

• The waste to energy market size is expected to see strong growth in the next few years. It will grow to $49.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Sustainable Waste Management Initiatives Propel Growth In The Waste-To-Energy Market
• Technological Advancements Driving Innovation In Waste-To-Energy Market
• Europe was the largest region in the waste to energy market share in 2023

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