Allied Market Research published a research report on the U.S. & Canada waste-to-energy market. The findings of the report states that the global market for U.S. & Canada waste-to-energy generated $1.81 billion in 2018, and is projected to reach $2.8 billion by 2026, growing at a CAGR of 6.0% from 2019 to 2026. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Significant surge in the demand for renewable sources of energy, rapid urbanization coupled with rapid industrialization and increase in electricity consumption by people are expected to drive the growth of the U.S. & Canada waste-to-energy market. On the other hand, high initial cost associated with waste-to-energy plant installation is expected to hinder the growth of the market. However, increase in waste generation and government initiatives to promote relevant utilization of waste in the U.S. and Canada is expected to create ample opportunities for the industry.
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“The U.S. & Canada waste-to-energy market is expected to witness considerable growth owing to the rise in demand for renewable sources of energy. In coming years, there is significant rise in the U.S. & Canada market growth owing to rise in electricity consumption,” says Eswara Prasad Manager, Chemical and Materials.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the U.S. & Canada waste-to-energy market globally. The outbreak of COVID-19 has had a negative impact on the growth of the U.S. & Canada waste-to-energy, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various industries such as automotive, construction, processing and others, plummeting the demand for waste-to energy in US and Canada. This was majorly due to the stringent social distancing restrictions imposed by the government so as to curb the spread of the virus during the pandemic. Furthermore, slowing down of transport, trade and economic activity during the pandemic further aggravated the impact on the market. However, the market is expected to recoup soon.
The report offers a detailed segmentation on the U.S. & Canada waste-to-energy market based on type of technology and country.
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Based on technology, the thermal segment held the largest market share in 2018, garnering more than four-fifths of the global market. The biochemical segment, on the other hand, is expected to cite the fastest CAGR of 6.7% during the forecast period.
Based on country, US held the lion’s share in 2018, holding about 98% of the global market. Canada, on the other hand, is expected to cite the fastest CAGR of 6.3% during the forecast period.
The key players analyzed in the U.S. & Canada waste-to-energy market report include Babcock & Wilcox Enterprises, Inc., John Wood Group PLC, Waste Management, Inc., Covanta Holding Corporation, Plasco Energy Group, Inc., Mitsubishi Heavy Industries, Wheelabrator Technologies Inc., Xcel Energy, Inc., Ener-Core, Inc., and BlueFire Renewables.
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