Market Definition
Waste-to-Energy (WTE) is the process of generating energy in the form of electricity or heat through the combustion of MSW (Municipal Solid Waste). It provides two major benefits— sustainable waste management & disposal and clean power generation. Several countries worldwide are massively investing in renewable energy sources to minimize their dependence on fossil fuels and curb the growing carbon emissions. The high volume of waste generated and the increasing number of WTE plants worldwide are boding well for both the environment and the leading companies operating in the industry.
Market Insights
The Global Waste to Energy Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28. The growth of the market would be driven primarily by the massive amount of residential & commercial waste generated every year due to urbanization & industrialization, coupled with increasing population & power consumption levels. As a result, there's a mounting focus of various countries on clean power generation from renewable sources, i.e., augmenting the demand for waste-to-energy plants to treat the substantial waste produced worldwide.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 6% |
| Regions Covered | North America: U.S., Canada, Mexico, Cuba, Puerto |
| South America: Brazil, Argentina, Colombia, Chile, Peru, Ecuador, Uruguay, Paraguay | |
| Europe: U.K, France, Germany, Spain, Italy, Belgium, Netherlands, Poland, Russia, Romania | |
| Asia-Pacific: China, India, Japan, Australia, South-Korea, Thailand, Indonesia, Philippines, Malaysia, Vietnam | |
| Middle East & Africa: Saudi Arabia, Kuwait, Qatar, Oman, Turkey, South Africa, Egypt, Morocco, Algeria | |
| Key Companies Profiled | 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. |
| Unit Denominations | USD Million/Billion |
Moreover, various initiatives by governments of different countries toward reducing the alarming levels of GHG emissions and promoting the use of sustainable energy resources are also contributing to the overall market expansion. Additionally, benefits of WTE, like clean energy generation & efficient metal recycling, technological advancements in WTE plants, such as combustion & boiler design enhancements and more effective metal recovery systems, coupled with the lack of sufficient landfill sites across most places, are other prominent aspects projected to boost the Global Waste to Energy Market through 2028.
