Waste to Energy Market – Industry Insights by Growth, Emerging Trends and Forecast By 2027

According to the report published, the global waste to energy industry was estimated at $35.1 billion in 2019, and is anticipated to hit $50.1 billion by 2027, registering a CAGR of 4.6% from 2020 to 2027. The report offers an extensive analysis of the changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Rise in demand for incineration process and growth in public WtE expenditure drive the growth of the global waste to energy market. Conversely, growth in concerns related to several environmental hazards regarding the incineration process is expected to affect the overall market growth in developed and developing countries. Nevertheless, increase in investments in R&D activities to ensure reliability in terms of environmental effects is expected to provide multiple opportunities in the future.

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Impact Of Covid-19 On Global Waste To Energy Market

Continuing the delivery of basic waste management service like waste collection and management has become a major challenge for cities having maximum fallout from COVID-19. Every year around 2 billion metric tons of municipal solid waste are generated. It is estimated that by 2050 annual waste generation will increase by 70-75% to reach 3.4 billion metric tons. As now the world is unlocking halted operations implemented during pandemic, it is expected government will partner with the private sector through public-private partnerships to discover sustainable solutions.

The global Waste to energy market is segmented on the basis of technology and region. Based on technology, the thermal segment contributed to more than four-fifths of the total market share in 2019, and is anticipated to lead throughout 2027. On the other hand, the biochemical segment, on the other hand, would grow at the fastest CAGR of 5.0% till 2027.

Based on thermal technology, the incineration segment accounted for more than half of the global waste to energy market revenue in 2019. Furthermore, the segment is projected to lead the trail by the end of 2027. In addition, the same segment would also register the fastest CAGR of 4.6% during the study period. The report also analyzes segments including gasification and pyrolysis.

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Based on region, Europe held the major share in 2019, generating more than two-fifths of the global waste to energy market. Conversely, the region across Asia-Pacific is anticipated manifest the fastest CAGR of 4.8% by 2027, owing to high demand for renewable energy in the province. In addition, the report also studies regions across LAMEA and North America.

The key players have adopted various market penetration and growth strategies, such as mergers & acquisitions, to strengthen their foothold in the market. The key players operating in waste to energy industry include Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Méditerranée (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC, Babcock & Wilcox Enterprises, Inc., and Veolia Environment.

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