In upcoming years, more than 10 billion metric ton of solid waste will be generated annually, from urban households, commercial activities, industrial and construction activities. The increasing waste generation, rising urbanized population and increasing consumption levels are expected to support the growth of waste to energy market. All of these factors are further increasing the usage of renewable sources of energy that is expected to propel the demand for recycling and combustion for energy recovery via waste management.
The global waste to energy market accounted for USD 27,290.0 Million in 2016. The ecological concerns to preserve natural resources and initiatives to support garbage and agricultural waste management are expected to benefit the expansion of the global waste to energy market by reaching a significant market size of around USD 42,520.4 Million by the end of 2024. Further, the global waste to energy market is estimated to witness a CAGR of 5.7% over the period 2016-2024.
Geographically, the global waste to energy market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, Europe is believed to expand with dominant growth over the forecast period followed by Asia Pacific and North America. Riding on the back of the factors such as rapid urbanization, rising technological advancement and growing trend towards adoption of renewable energy sources, the Asia-Pacific WTE market is projected to contribute a significant market share of around 30% in 2024.
The global waste to energy market is segmented by technology into thermal, biological and others. Among these segments, the thermal technology segment is predicted to dominate the market by holding more than 70% of the total market share in 2024 and is expected to achieve Y-o-Y growth rate of 6% in 2024, whereas, the biological method of energy management is anticipated to show robust growth over the forecast period owing to the high penetration of various techniques such as anaerobic digestion and gas capture through landfilling.
The Report titled “Global Waste to Energy Market Outlook: Industry Insights & Opportunity Assessment 2016–2024” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
This report also studies existing competitive scenario of some of the key players of the global waste to energy market which includes profiling of C&G Ltd., Amec Foster Wheeler, Veolia Environment, Suez Environment S.A., Waste Management Inc., Keppel Seghers, Babcock & Wilcox Co., Covanta Energy Corporation, Hitachi Zosen Inova AG and ADI Systems Inc.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Waste to Energy Market Outlook 2024”, analyses the overall waste to energy industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global waste to energy market in the near future.