Waste to Energy (WTE) Market is anticipated to worth USD 35,395 million by 2025, with a CAGR of 5.46% during 2019-2025
Published | 03 April 2019
According to BlueWeave
Consulting, the Global Waste to Energy (WTE) Market is anticipated to worth USD
35,395 million by 2025, with a CAGR of 5.46% during 2019-2025. Increasing
electricity demand, together with a growing dependency on renewable sources to
produce energy due to depleting petrochemical reserves, is probably going to
drive waste to energy market over the forecast timeframe. As of 2015, more than
50% of the global population lives in urban areas and, therefore, accelerating
municipal solid waste accumulation. Garbage has been a worrying cause for
native governing bodies, mostly in developing areas.
Government organizations
have been supporting the growth by giving relaxation on taxes as well as
providing incentives. Favorable government regulations in the form of tax
benefits and financial incentives have had a positive influence on the growth
of this market. Waste to Energy is expected to solve the environmental problems
related to waste by reducing the volume and decreasing greenhouse gas
emissions. The rise in economic development is anticipated to lead to the
rising municipal domestic waste, and henceforth will drive the demand for waste
to the energy market. A shift in focus towards substitutes like coal with
renewable resources to cut back carbon content is also expected to play a vital
role in shaping the industry.
Among
technology, thermal technology accounts for the largest market size in the
global Waste to Energy (WTE) market during the forecast period.
Thermal technology is the
dominating segment over the forecast period and estimated to lead the market
over the forecast period. Thermal-based incineration technology is the leading
segment in the overall waste to the energy market. Health concerns due to the
emission of flue gasses via thermal WTE technology have been a major challenge
for the industry over the recent past. The pyrolysis, gasification, and plasma
arc gasification thermal technologies are expected to lower carbon emissions.
Moreover, a shift in trend towards replacing conventional Energy generating
from fossil fuels with renewable energy to ensure energy security and reduce
carbon emissions are potential factors to drive industry growth. The biological
method of energy management is projected to show robust growth over the
forecast period.
Europe
accounts for the largest share of the Global Waste to Energy (WTE) market
during the forecast period.
Geographically, Europe
dominated the overall waste to the energy market and projected to lead the
market over the forecast period Increasing solid waste in the developing and
emerging countries has resulted in rising public concern relating to the
subsequent health and environmental impacts. Owing to the high generation of
industrial waste coupled with stringent EU-wide waste legislation has led to
accelerated market growth in the region. Rising energy demand, the growing
industrialization, is also a trend saw in recent years, which is expected to
enhance product demand over the coming years. Asia Pacific is projected to be
the fastest-growing market led by Japan and China.
Browse Detailed TOC,“Global Waste To Energy (WTE) Market By
Technology (Thermal [Incineration, Gasification, Pyrolysis], And Biological),
By Region (North America, Europe, Asia Pacific, Middle East & Africa And
Latin America), Trend Analysis, Competitive Market Share And Forecast,
2015-2025”
At
Global
Waste to Energy Market (WTE):
Competitive Landscape
Companies such as Mitsubishi
Heavy Industries Ltd, Waste Management Inc., A2A SpA, Veolia, Hitachi Zosen
Inova AG, MVV Energie AG, Keppel Seghers, Babcock & Wilcox Vølund A/S,
Ramboll Group A/S, ARX Arcillex SA, Xcel Energy Inc., Wheelabrator Technologies
Inc., Covanta Holding Corporation, C&G Environmental Protection Holdings
Ltd., China Everbright International Ltd., Green Conversion Systems LLC, Foster
Wheeler AG, Jansen Combustion & Boiler Technologies, Plasco Energy Group
Inc., and Veolia Environment SA are the leading players of Waste to Energy
market across the globe.
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