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Waste to Energy Market size exceeded USD 44.3 billion in 2023 and is projected to expand at over 6.3% CAGR from 2024 to 2032. The waste to energy technology utilizes various waste treatment methods including incineration, pyrolysis & gasification, anaerobic digestion, and others to convert the waste into useful by-products, which are then used to generate power through turbines or other equipment. In addition, this technology is gaining wide recognition across the globe owing to the substantial growth in waste production along with the rising demand for clean energy.
Stringent governmental policies pertaining to soaring GHG emissions will compel green technology manufacturers to devise innovations to develop cleaner energy, which in turn, will drive the market growth. Governments across the globe are investing in renewable energy sources to reduce reliance on fossil fuels, which will also complement the technology demand. Moreover, favorable incentives and schemes have been introduced across all regions to promote effective waste collection and processing, generating a significant growth potential for waste to energy industry.
Over the last few years, countries across the globe witnessed the COVID-19 outbreak, which compelled respective governments to impose lockdown protocols to curb the outspread of the virus owing to which various commercial & industrial businesses were shut down, which led to waste generation statistics witnessing a decline. However, the residential sector observed a rise in waste generation, thereby creating a growth potential for the market. Moreover, ongoing vaccination drives across the globe have reinitiated various commercial & industrial offices, thereby enhancing the need for waste management technologies.
Report Attribute | Details |
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Base Year: | 2023 |
Waste to Energy Market Size in 2023: | USD 44.3 Billion |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 6.3% |
2032 Value Projection: | USD 78.2 Billion |
Historical Data for: | 2019 to 2023 |
No. of Pages: | 190 |
Tables, Charts & Figures: | 182 |
Segments covered: | Technology |
Growth Drivers: |
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Pitfalls & Challenges: |
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Thermal technologies will register gains at nearly 6.1% up to 2032, due to the ongoing innovations in waste treatment technologies. In thermal treatment, waste is converted into useful heat or steam, which is further used to drive a turbine to generate electricity. Furthermore, industry participants around the world are utilizing various thermal procedures for generating energy and include incineration where the waste is completely burnt to produce heat, pyrolysis where the waste is combusted under ideal conditions, pyrolysis & gasification where the waste is partially combusted to form an intermediate that is utilized for energy recovery or recycling, and plasma arc treatment, amongst various others.
Rising amount of residential and commercial waste volumes on account of the ongoing urbanization across the globe will proliferate the business outlook. Ongoing efforts to deploy green technologies including WTE systems will complement the industry dynamics. Strict governmental policies applied to municipal solid waste management from commercial & residential establishments will spur the market expansion.
Europe waste to energy market was valued over USD 19 billion in 2023. Favorable regulatory framework for sustainable urban infrastructure development will augment the industry size. Governments across the region have introduced landfill fees & taxes, direct subsidies, and various other taxes including carbon tax amongst others, which will propel the business trends. Furthermore, the burgeoning adoption of various advanced technologies including RFID technologies, IT solutions, remote monitoring & controlling equipment, and solid waste processing hardware will positively influence the technology growth.
Major participants operating in the waste to energy market are
These leaders are extensively investing in R&D activities to develop innovative technologies with numerous features to capture a larger revenue share in the waste to energy sector. Companies are engaging in forward & backward integration with waste management and waste collection companies to stimulate their WTE portfolios. Additionally, major firms operating in the industry are further engaged in the acquisition of new or small industry players to augment their waste processing capabilities and thus generate a larger revenue stream.
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Market, By Technology
The above information has been provided for the following regions and countries: