Global Waste to Energy Market Research Report: Forecast (2024-2030)

Market Definition

Waste-to-Energy (WTE), also known as energy from waste is the process of generating energy in the form of electricity or heat using thermochemical and biochemical technologies through urban wastes. It provides two major benefits— sustainable waste management & disposal and clean power generation. Several countries worldwide are immensely 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 & Analysis: Global Waste to Energy Market (2024-30):

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. The market growth is primarily driven by the massive amount of residential and commercial waste generated every year due to rapid urbanization and industrialization, coupled with rising power consumption levels owing to population explosion. This resulted in market players and manufacturers emphasis on more clean power generation from renewable sources. This further accelerates the requirements for waste-to-energy plants to treat the substantial waste produced worldwide.

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Additionally, the depletion of conventional energy sources alarms the governments of various countries to regulate and commercialize alternative energy sources, especially waste-to-energy technology. Along with this, government policies and initiatives emphasize fuel market expansion by urging manufacturers of green technology to keep upgraded with innovative technologies, which further facilitates in creation of cleaner energy. Moreover, to diminish their dependency on fossil fuels, governments around the world are investing in renewable energy sources, which can support bringing more innovation and advancement in waste-to-energy technology. For instance, The Indian Government has recognized waste to energy as a renewable technology and supports it through various subsidies and initiatives. The Ministry of New and Renewable Energy is actively promoting all the technology options available for energy recovery from urban and industrial waste.

In addition, the organic waste from urban and rural areas is the source of generating energy. The issues associated with solid and liquid waste can be considerably reduced through the adoption of environment-friendly waste-to-energy technologies.  This technology generates clean, reliable energy from a renewable fuel source, thus reducing the dependence on fossil fuels. Furthermore, the waste-to-energy plant facilities in reduction of harmful emissions owing to certain factors, such as recovery of metals for recycling, avoidance of methane landfills, and offset of carbon emission from fossil fuel power generation. These rising technological advancements improve the efficiency of the waste-to-energy plants augmenting the growth of the global waste-to-energy market.

Global Waste to Energy Market Driver:

Production of Biofuel Maximize Market Revenue – Biofuels are liquid fuels produced from renewable biological sources, using agriculture residues & food waste, feedstock, etc., this transformation of biomass and waste produces biogas or bioethanol.  These biofuels can serve as an alternative, reducing dependency on fossil fuels and becoming the most preferable fuel. Here Waste-to-energy plays an important role in supplying the energy needed for biofuel production, improving energy security. The combination of waste-to-energy with biofuel production contributes to a circular economy by utilizing organic wastes. This facilitates reducing waste and greenhouse gas emissions, therefore achieving sustainable goals. Hence, the inclination towards the production of biofuel is estimated to accelerate the growth of the waste-to-energy market.

Global Waste to Energy Market Challenge:

Expensiveness of WTE for Energy Generation Hampering the Market Dynamics – Waste-to-energy is considered a costly option associated with regulation, maintenance, and installation in comparison with other fossil fuel-powered alternatives and is likely to restrict market growth.  This discourages fulfilling the requirements of Waste-to-energy technology in comparison with established renewable alternatives such as wind and solar energy. This is the reason behind the hampering of power generation capacity.

Global Waste to Energy Market Trend:

Emerging Digitalization is Gaining Incredible Demand – The government's strict regulations and policies result in the integration of innovation in the upgradation of green technology. These favorable incentives and programs facilitate initiating appropriate digitalization in waste-to-energy technology for producing energy. This incorporation of technological advancement in waste collection allows the rising community participation. Therefore, the adoption of digital advancement in waste management and disposal operations will not only provide information but all enhance data quality and better insights into the waste stream during processes. This supports the lucrative growth of the waste-to-energy market across the global level.

Global Waste to Energy Market (2024-30): Segmentation Analysis

The Global Waste to Energy Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Type of Waste:

• Municipal Waste
• Agriculture Waste
• Industrial Waste

Municipal Solid waste holds the majority share of the Global waste-to-energy market. The supremacy of MSW is established due to its high availability and the rising need for sustainable waste management solutions. As it primarily owes the higher waste generation from households, offices, shops, schools, hospitals, hotels, and other institutions, which covers the dominant section of waste generation. Additionally, the exponential increase in industrialization surged the waste generation, which gradually boosted the market growth. Moreover, Waste-to-energy plants effectively transform municipal solid waste into renewable energy, facilitating in reduction of landfill use and greenhouse gas releases.

Furthermore, interference of government regulations and initiatives for promoting clean energy further boosts the implementation of waste-to-energy solutions for MSW, acquiring its prominent position in the market.

Based on Technology:

• Thermal
  • Incineration
  • Pyrolysis
  • Gasification
• Biological
• Physical

Thermal technology is estimated to hold a significant share of the Global Waste-to-energy market during 2024-30. This is attributed to the rising adoption and popularity of thermochemical waste-to-energy generation processes such as combustion or incineration, gasification, and pyrolysis. The concerned technology comprises ease of operations and a simple process of energy generation, which has led to the noteworthy growth of the segment. Moreover, thermal technology is mostly adopted in urban areas, owing to the eco-friendly treatment of waste generation i.e. incineration thermal technology offers limited greenhouse gas emissions, reduction in volume of waste, and energy preservation. These are the primary reasons behind the initiatives taken by several government bodies to increase the adoption of thermochemical waste-to-energy technology, therefore fueling global market growth.

Global Waste to Energy Market (2024-30): Regional Projection

Geographically, the Global Waste to Energy Market expands across:

• South America
• North America
• Asia-Pacific
• Europe
• The Middle East & Africa

Asia Pacific region is expected to be the most opportunistic market during the forthcoming years. The increasing air pollution level owing to greenhouse gases and carbon emissions has propelled the government to adopt environmental protection measures for disposing of the large volume of waste. This resulted in policy formulation for emphasizing the deployment of waste to energy plants by the government Moreover, the rapid industrialization and urbanization influx the generation of higher amounts of domestic and industrial wastes. Also, the rising implementation of households and industries in the region is fueling the requirements for energy. This rising waste generation and need for energy consumption, clearly demonstrate the demand for waste-to-energy technology, therefore facilitating global market development.

Global Waste to Energy Industry Recent Development:

• March 2024: Hitachi Zosen Inova announced the collaboration with Enfinium to construct and operate the UK’s first carbon capture pilot plant at a Waste-to-Energy facility. The carbon capture plant will utilize HZI’s Amine-scrubbing technology, specifically designed to seamlessly integrate with Efinium’s onsite waste-to-energy operations.
• March 2024: A2A SpA and Enel declare the signing agreement for the reorganization of electricity networks in Lombardy.
• April 2024: Babcock & Wilcox Enterprises, Inc., announced that its B&W Environmental Segment had been awarded a contract for approximately $15 million to supply environment equipment for an industrial facility in the Middle East.

Gain a Competitive Edge with Our Global Waste to Energy Market Report

• Global Waste to Energy Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Global Waste to Energy Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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