Press Release

Waste to Energy Market Achieves USD 41 Billion in 2023 and Forecasts 6% CAGR by 2030

The Global Waste to Energy Market size was valued at USD 41 billion in 2023 and is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2024-30. This flourishing requirement is attributed to significant factors such as rising population growth, energy consumption, rapid urbanization, and increasing industrialization. The population explosion causes considerable waste generation.

For instance, as per the United Nations, the global population is estimated to exceed approx. 9.8 billion by 2050 and over 11.2 billion by 2100. This demonstrates the further rising waste generation with the growing years. Moreover, the governments of various countries are actively working towards commercializing alternative energy sources, especially waste-to-energy technology, owing to the depletion of conventional energy sources. In addition, the establishment of environmental policies aiming at carbon release reduction from fossil fuels is anticipated to fuel the industry.

Along with this, the accumulation of various types of waste is also becoming a major concern for the government as it hinders the environmental condition. This compelled government bodies and other organizations to form policies associated with waste management and clean power generation.

However, the waste-to-energy technology comprises heavy costs for installation, maintenance, and regulation, in comparison with other fossil fuel-powered alternatives. This is expected to hamper the global waste-to-energy market growth. Nevertheless, the emerging technological advancement and digitalization in waste management and clean energy generation facilitate balancing the market growth graphs. The government’s strict regulations and formulations propelled green technology to upgrade and incorporate innovative functions, this is also expected to remunerative growth of the global waste-to-energy industry, further states the research report, “Global Waste to Energy Market Analysis, 2024.”

Waste to Energy Market Segmentation Analysis

Municipal Waste Maximizes the Global Market Revenue

Based on the type of waste segment, the market is further bifurcated into, municipal waste, agriculture waste, and industrial waste. Here, Municipal waste uplifts the potential market share, owing to the requirement for sustainable waste management solutions. Municipal waste comprises of largest section of waste generation, as it encompasses wastes from households, offices, shops, schools, hospitals, hotels, and other institutions. The cities consist of highly industrial wastes, and the amount of trash produced increases, creating obstacles to old ways of handling waste. This needs the flourishing requirements of waste management, therefore, municipal wastes positively influence the waste-to-energy market and promote lucrative growth perspectives.

Asia Pacific to Leads the Waste-to-energy Industry

Asia Pacific region’s growth is expected to rise due to increasing government initiatives such as investing in waste management and treatment plants, major players assisting with the treatment of waste and renewable energy programs. Moreover, the region’s development in terms of urbanization and industrialization resulted in mounting waste volume especially from domestic and industrial. Also, the exponential increase in the number of households and industrial units in the region is burgeoning the requirement for energy consumption. This further required clean energy generation which eventually influx the demand for the global market. Additionally, the governments of several countries such as India, Thailand, Singapore, and Indonesia are spending more on municipal waste management solutions which surging the implementation of waste-to-energy solution plants.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Suez Environment S.A, Veolia Environment, C&G Limited, Waste Management Inc., Keppel Seghers, Babcock & Wilcox Co., Covanta Energy Corporation, ADI Systems Inc., Hitachi Zosen Inova AG, Xcel Energy Inc., Abu Dhabi National Energy Company PJSC, MVV Energie AG, China Jinjiang Environment Holding Co Ltd, A2A SpA,, Martin GmbH, China Everbright International Limited, Mitsubishi Heavy Industries Ltd, Shandong Wheelabrator Technologies Inc., Constructions Industrielles de la Mediterranee, Foster Wheeler A.G. are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?