Waste to Energy market to grow: Valuates Reports
Market size to reach 27,700.8 Million by 2025
Waste to Energy (WTE) or energy-from-waste is the process of generating energy in the form of electricity and/or heat from the incineration of waste. The energy produced from this process is close to that produced from coal, natural gas, oil, or other processes. The waste to energy cycle is projected to reduce landfill municipal solid waste (MSW) by 90 percent, which will further reduce the emissions of carbon dioxide (CO2) produced by the waste.
Global waste to energy market size was valued at USD 17,271.4 Million in 2017 and is projected to reach USD 27,700.8 Million by 2025, growing at a CAGR of 6.1% from 2018 to 2025.
This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities along with a strategic assessment of the global waste to the energy market.
Trends influencing the waste to energy market size
Substantial growth in energy consumption, coupled with increased emphasis on energy generation from renewable energy sources, is expected to push global waste to the energy market.
Increased domestic and industrial waste has prompted governments across regions to generate energy from waste. Furthermore, the increased investment by various governing bodies, particularly in developing countries in Asia-Pacific, such as China and India, coupled with rapid urbanization and significant growth in consumer spending capacity, is expected to drive global waste to the size of the energy market in the forecast period.
Biological treatments include the treatment of waste with microorganisms to generate energy. Such approaches are considered more environmentally friendly than thermal techniques, and their market penetration is expected to grow over the forecast period.
It is expected that high installation costs and toxic gas emissions during incineration would impede market growth over the forecast period.
Waste to energy market share analysis
Thermal technologies have emerged as the leading technology employed to produce energy from waste. In 2019, the segment generated 87 percent of total market revenue.
Asia-Pacific is projected to witness the highest growth rate from 2018 to 2025, mainly due to the rise in demand for energy. The rise in industrialization, coupled with rapid urbanization activities in emerging economies such as China and India, is expected to drive the market during the forecast period.
In 2017 Europe, in terms of sales, retained the leading waste to the energy market share. This dominance is attributed to the rise in the production of municipal solid waste (MSW), combined with the increase in energy demand. This region is investing heavily in developing renewable energy production.