Waste to Energy Market (WTE) size is expected to reach US$ 52.90 Bn by 2029, at a CAGR of 8.13% during the forecast period.
Waste to Energy Market Overview:
The Waste to Energy market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Waste to Energy Market, as well as the reasons for variations in the industry's growth between regions.
Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
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Segmentation:
The governments from developed and developing countries are focusing on commercializing alternative energy sources such as Waste to Energy technologies as the fast depletion of conventional energy sources is taking place across the globe. Furthermore, the introduction of environmental rules targeted at decreasing carbon emissions from the use of fossil fuels is predicted to enhance industry growth. According to the US Environmental Protection Agency, every tonne of solid waste processed in waste to energy facilities reduces greenhouse gas emissions by one tonne. For instance, Covanta Holding Corporation in the United States recycles 500 kilotons of metal and converts around 21.0 million tonnes of waste into useful energy through its waste to energy facilities.
Based on the Technology, the Waste to Energy Market is segmented into Physical, Thermal, and Biological. The Thermal Technology segment held the largest market share accounting for 81% in 2021. The growth factor for thermal conversion techniques is a comparatively simple procedure combined with ease of operation. Thermal waste treatment is an environmentally friendly solution for modern cities since it allows for the complete burning of waste gases. The thermal technology has various advantages, including reduced greenhouse gas emissions, energy conservation, and waste volume reduction. Incineration reduces waste to 10% of its original volume, making it a viable alternative to conventional energy by generating renewable energy for uses such as district heating. These are factors are fueling the waste to energy market growth for this segment.
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Key Players:
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
. The biggest players in the Waste to Energy market are as follows:
• Construction Industrielles de la Mediterranee (CNIM)
• Waste Management Inc.
• Babcock & Wilcox Enterprises Inv.
• Veolia Environnement SA
• Hitachi Zosen Corp
• China Everbright International Limited
• China Jinjiang Environment Holding Company Limited
• Covanta Holding Corporation
• Abu Dhabi National Energy Company PJSC
• Ramboll Group A/S
• Babcock & Wilcox Enterprises, Inc.
• Wheelabrator Technologies Inc
• Xcel Energy Inc.
Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Waste to Energy market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Waste to Energy Market:
Due to a break in operations, end-user sectors where Waste to Energy are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Waste to Energy manufacturers, impacting the growth of the Waste to Energy market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Waste to Energy.
Key Questions Answered in the Waste to Energy Market Report are:
- In 2021, which segment owned the greatest share of the Waste to Energy market?
- What is the competitive landscape of the Waste to Energy market?
- What are the key factors influencing Waste to Energy market growth?
- In the Waste to Energy market, which region has the most market share?
- What will be the CAGR of the Waste to Energy market over the forecast period (2022-2027)?