09th Nov 2020 – The ****** Waste to Energy (WtE) Market size was USD 25.0 billion in 2015 and is expected to reach USD 43.96 billion by 2024. Market is expected to witness a steady growth on account of increasing waste generation activities. Waste to energy (WtE) technologies consists of waste management to produce electricity or transport fuel. This technology finds the application on various types of unwanted materials including semi-solid, liquid and gaseous waste.
The most popular application is municipal solid waste (MSW) processing followed by industrial remains. The main drivers expected to impact overall market growth includes increasing waste generation activities by industries coupled with high energy costs. Restricted land filling and growing environmental issues are also expected to further enhance ****** industry demand over the forecast period. WtE is expected to solve the environmental problems related to waste by reducing the volume and decreasing the greenhouse gas emissions.
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Moreover, government initiatives especially by European governments have significantly contributed to the regional WtE industry growth in the recent years. Economic development, industrialisation, and public habits have given rise to the generation of tremendous left overs and, therefore, driving the overall market.
As of 2015, more than 50% of the ****** population live in urban areas and, therefore, accelerating municipal solid waste accumulation. Garbage has been a worrying cause for local governing bodies mainly in developing areas. Favourable government policies coupled with financial aid are expected to positively influence the industry in near future. Government institutions have been supporting the growth by giving relaxation on taxes as well as providing incentives.
Further, growing recycling industry in developed markets including the U.S., Japan, and Germany is expected to significantly contribute the overall growth. Some companies have in-house established WtE as a part of their corporate social responsibility. General Motors and Detroit Renewable energy collaborated to establish an energy project which converts approximately one million tons annually. The project provides around 15.8 megawatts of renewable energy to General Motors.
****** WTE Market Technology Outlook (Revenue, USD Million, 2014 – 2024)
Key players in the ****** market include C&G Environmental Protection Holdings Ltd, Foster Wheeler A.G., Waste Management Inc., Veolia Environment, Suez Environment S.A., The Babcock & Wilcox Co and KEPPEL SEGHERS. It is observed that players operating in this industry are conglomerates with diverse business operations. The advantage of big players in raising the necessary finances are their capability to show patience in case of earning early profits.
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****** WTE Market Regional Outlook (Revenue, USD Million, 2014 – 2024)
- North America
- Asia Pacific
- Central& South America (CSA)
- Middle East & Africa (MEA)
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