Waste to Energy Market Size Analysis:
Waste to Energy Market Size is projected to be worth USD 52.37 billion, registering a CAGR of 5.20% during the forecast period (2020 - 2030).
Rising government penalties on poorly managed waste in landfills and development of alternative energy production can drive the waste to energy processes. In addition, government and private enterprises’ initiatives for preserving their natural resources can bolster the market growth. However, lack of flexibility in handling wastes and regulatory bottlenecks are expected to hinder the market growth.
The COVID-19 pandemic can have a negative impact on the global market owing to the increasing use of disposable equipment and accessories to be used by medical professionals for containing the spread. The challenge in handling solid and medical waste owing to the virus in large and medium cities can affect the waste-to-energy market owing to the dip in raw materials.
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Report Attribute/Metric | Details |
CAGR | 5.20% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Technology, Biological Technology |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
COVID-19 Impacts
The Waste to Energy Market Size revenues remained reassuringly robust even during the COVID-19 crises. Resultantly, the market has become more dynamic and constantly changing than in the pre-pandemic era. Simultaneously, the ability to respond to market changes became more important than ever in post-pandemic periods.
Lockdowns implemented to control the virus spread fostered many trends, including industrial automation robotics, networked machines, and analytics. Therefore, the waste-to-energy market kept growing, witnessing the rising adoption of biopower solutions and equipment during the pandemic era.
Segmentation:
The market is segmented into technologies, verticals, and regions. The technology segment is sub-segmented into thermal technology and biological technology. The sub-segment thermal technology is bifurcated into incineration, pyrolysis, plasma-arc gasification, and others.
The sub-segment biological technology is bifurcated into methane capture, anaerobic digestion, fermentation, and others. The vertical segment is sub-segmented into public and private sectors. The region segment is sub-segmented into Europe, North America, Asia-Pacific, and the rest-of-the-world.
Regional Segmentation
The Asia Pacific region accounts for the largest market in terms of the global Waste to Energy Market Size value. Rising consumer preference for the organic energy source or renewable source to manage changing environment boosts the region's Waste to Energy Market Size shares. Besides, increasing government initiatives to promote waste decomposition and convert it to usable energy offer significant market opportunities.
Increasing demand for power generation through waste material and renewable energy sources boosts the Waste to Energy Market Size. Additionally, favorable government regulations to increase integration of biopower and the boosting manufacturing sector across the region provide significant Waste to Energy Market Size growth opportunities.
Moreover, the increasing use of waste-to-energy solutions in various power generation and industrial applications and vast technological upgrades increase market size.
Several APAC countries are assessing alternate sources of energy to respond to rising environmental concerns, crude prices volatility, and restricted landfills. Waste to energy solves long-term environment challenges by reducing the amount of greenhouse gas emissions.
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Key Players:
Key players active in the market are Hitachi (Japan), A2A (Italy), Ramboll (Denmark), BlueFire Renewables (US), and Axpo Holding AG (Switzerland), among others.
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