Waste To Energy Market 2020–2027

The global waste to energy market size is projected to reach USD 54.8 billion by the year 2027, according to an expansive report by Grand View Research, Inc. During this period, the industry is projected to advance at a CAGR of 7.4%, as per the report. Waste to energy, also known as energy from waste (EfW), involves the generation of energy in the form of heat and/or electricity from primary waste treatment. Plants specializing in the WtE process primarily make use of municipal solid waste (MSW), which involves various energy-rich components such as wooden products, paper, and plastic, among others. The energy can be obtained either through thermal or biological processes, with thermal technologies including incineration, gasification, and pyrolysis. There has been a sustained increase in power demand across the globe, which has coincided with an accelerated depletion of conventional energy sources. As a result, governments are emphasizing on the generation and utilization of alternative energy sources to meet the demand. Furthermore, the concept of circular economy has become highly popular in recent years, which is expected to positively impact the development of the waste to energy market in the future.

Waste to energy plants offer a number of benefits, with the primary one being reduction of harmful emissions due to recovery of metals for recycling, offset of carbon dioxide from fossil fuel power generation, and avoidance of methane from landfills. Additionally, there has been a continued rise in landfill prices in recent years, coupled with steadily reducing space and increasing generation of waste. These factors are expected to drive the demand for WtE plants as a reliable and long-term solution for waste management. With a number of economies in Asia Pacific still in the developing phase, there is a huge generation of industrial waste due to increased urbanization and relative lack of planning. As such, waste-to-energy plants are expected to receive many opportunities for growth and expansion in this region. Japan is expected to follow a highly aggressive approach regarding implementation of WtE technology across the country, by providing combination packages including additional services such as waste reduction, waste sorting, and recycling. Africa is another region where waste disposal and utilization has been a major area of interest for governments and global bodies, with a number of projects expected to launch or begin operations in the coming years.

Waste To Energy Market Report Highlights

• According to the latest data from ecoprog, there are around 2500 active WtE plants globally, with a disposal capacity of around 400 million tons of waste per year. Additionally, it is also stated that the year 2019 saw the installation of 83 new thermal treatment plants, with a total treatment capacity of more than 29.8 million tpy. It has been forecast that there would be 2,700 such plants with a capacity of more than 550 million tpy in operation by 2029
• Industry players are emphasizing on technological advancements and innovations in order to reduce the technology cost associated with waste-to-energy plants, boosting the commercialization of WtE technology. Additionally, companies undertake tie-ups with notable municipal solid waste providers for the distribution of waste sources
• Waste-to-energy plants are highly efficient and help in significantly reducing the volume of waste. An article by the EIA states that for every 100 pounds of municipal solid waste in the US, around 85 pounds can be burned as fuel for generating electricity. Furthermore, these plants can reduce 2000 pounds of garbage to 300–600 pounds of ash, and reduce waste volume by 87%
• With regards to the technology, the thermal segment occupied the largest share in the waste to energy market in 2019, on account of the relatively simple process along with ease of operations during thermal conversion. In this segment, the incineration technology is a major revenue contributor, offering benefits such as waste volume reduction, limiting GHG emissions, and preserving energy
• The biological technology segment is projected to attain the highest CAGR over the forecast period in the waste to energy market, owing to the consistent advancement of anaerobic decomposition, which enables the production of biogas. Biogas, in turn, has been heavily utilized in households and commercial sector in developing economies
• The advent of the COVID-19 pandemic led to shutdown of industries across various sectors. However, the renewable energy market still showed respectable growth during this period, with the early months of the outbreak witnessing an increase in green energy demand by 40% and 45% in the US and India respectively. This also had a positive impact on the WtE market, with China witnessing a 21% growth in this regard
• Europe dominates the waste to energy market owing to the presence of major market players across the region, coupled with the rapid strides made towards sustainability, recycling, and development of a circular economy. On the other hand, the Asia Pacific market is expected to progress at the fastest CAGR owing to the potential growth opportunities in countries such as China and Japan
• Major players in the waste to energy market primarily delve into partnerships with local and state-level bodies, as well as acquisitions, as a means to garner higher share in the industry. For instance, in January 2021, Covanta announced an agreement with the Town of North Hempstead, New York, for sustainable waste disposal. The agreement, which came into effect on 1st January, allows the Town to utilize the Covanta Hempstead WtE facility located in Westbury, NY

Waste To Energy Market Segmentation

Grand View Research has segmented the global waste to energy market on the basis of technology and region:

Waste to Energy Technology Outlook (Revenue, USD Million, 2016–2027)

• Thermal
• Incineration
• Gasification
• Pyrolysis
• Biological

Waste to Energy Regional Outlook (Revenue, USD Million, 2016–2027)

• North America
• The U.S.
• Canada
• Mexico
• Europe
• The U.K.
• Germany
• Asia Pacific
• China
• Japan
• India
• Central & South America
• Middle East & Africa

List of Key Players of Waste to Energy Market

• Hitachi Zosen Inova AG
• Suez
• Covanta Holding Corporation
• China Everbright International Limited
• Veolia
• Abu Dhabi National Energy Company PJSC
• Ramboll Group A/S
• Babcock & Wilcox Enterprises, Inc.
• Wheelabrator Technologies Inc
• Xcel Energy Inc.