The global waste to energy market is expected to grow at a CAGR of 5.2% during the forecast period. Owing to the rising energy demand, fast depletion of fossil fuels, and concern of pollution from traditional energy sources, the global energy industry shifted its focus toward waste-to-energy solutions. Governments of different countries are promoting measures and schemes to boost energy production from agriculture and industrial waste. Such factors are likely to boost the demand for the global waste-to-energy market during the forecast period. The Ministry of New and Renewable Energy has provided financial assistance, for generating energy from urban, industrial, and agriculture wasters/residues for setting up waste to energy plants. Nearly $0.13 million per 12000cum/day is provided for generating electricity from biogas, and nearly $0.51 million per 4800 KG/day is provided for generating electricity from BioCNG. 

Moreover, several key players have deployed waste to energy plants to reduce a significant amount of harmful emissions due to various factors such as avoidance of methane from landfills, offset of carbon dioxide from fossil fuel, and recovery of metals for recycling influence of waste to energy market. The higher cost of installation for setup of waste to energy plants especially the incineration plant, as it includes the cost of building, operating cost, and segregation cost is restraining the growth of the market. In addition, the energy produced by the plants may affect the health of the people and cause respiratory problems such as asthma, cancer, and other breathing problems. 

Segmental Outlook 

The global waste to energy market is segmented based on technology. Based on technology, the market is segmented into incineration, pyrolysis, gasification, biological, and others. The biological segment is anticipated to attain the highest growth rate in the market during the forecast period. This growth is resulting owing to the rising advancements in anaerobic decomposition technology. The government of developed nations is indulging in various R&D activities to enhance the economic viability of anaerobic digestion facilities.

Incineration Finds Significance in the Global Waste to Energy Market 

The rising amount of waste and increasing pollution, along with growing concern related to hazardous effects are anticipated to catapult demand for incineration technology. An incinerator is machinery primarily used for the generation of energy from combustion waste. The growing need for an alternate source of electricity is expected to fuel the growth of the incinerator.  There are currently 100 waste incineration plants in Germany, and the largest incineration plant in Germany with a capacity of 780,000 tons is the residual waste incineration plant in cologne, as per the Clean Energy Wire. The rising concern for the environment along with well-established incineration plants is anticipated to boost the growth of the incineration segment in the global waste to the energy market. 

Regional Outlook

The global waste to energy market is further segmented based on geography including North America (The US and Canada), Europe (UK, Italy, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (Middle East & Africa and Latin America). North American waste to energy market is driven by the presence of key players, coupled with technological advancements in the energy field. For instance, in April 2021, Wheelbrator Technologies Inc. announced the integration of 10 leading waste industry businesses into a single comment operating under the WIN waste innovation brand name. The company focuses to delivered superior, sustainable, waste solutions tailored to the need of the customer. 

European waste-to-energy market is driven by the presence of major key players, along with higher production of energy from waste in the European region. For instance, according to the US Energy Information Administration, in 2018 overall energy production in the EU from industrial non-renewable municipal solid waste (MSW), amounted to nearly 2.4% of the total energy supply. Moreover, energy generation from waste is the highest in Germany at nearly 7.1 MWh, followed by the UK at 4.4 MWh, France, at 2.5 MWh, and Italy 2.4MWh. Nealery18 million European citizens received electricity and 15 million received healing from waste to energy plants in the European region. Hence, the rising production of electricity from waste enhances the market growth in the European region during the forecast period. 

Global Waste to Energy Market Growth, by Region 2021-2028

Market Players Outlook

The major companies operating in the global waste to energy market include Ramboll Group A/S, Waste Management, Inc, Veolia Environment SA, Suez Environment S.A., and China Everbright Environment Group Ltd. The market players are contributing significantly to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, new product launches, and partnerships, to stay competitive in the market. For instance, in July 2021, EQT Infrastructure acquired Covanta Holding Corp. With this acquisition, the company provides sustainable solutions to the growing waste challenge and supports the energy transition.  Moreover, Covanta continued to differentiate its service offerings, with a major focus on innovation and sustainable energy.  

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global waste to energy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future. 
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.