The global waste to energy (WTE) market is projected to attain a valuation of US$ 43.75 billion in 2023 and is expected to reach US$ 88.96 billion by 2033, trailing a CAGR of 7.3% during the forecast period.
Favourable regulatory policies promoting efficient waste disposal and energy production, along with increasing energy demands from end-use sectors, are key drivers for market growth in the forecast period.
Governments are actively commercializing alternative energy sources, particularly Waste to Energy (WTE) technology, due to the depletion of conventional energy sources. Additionally, the implementation of environmental policies targeting carbon emissions reduction from fossil fuels is expected to further accelerate industry growth.
Thermal technologies are expected to capture a substantial waste to energy market share in the coming years due to the ongoing innovations in waste treatment technologies. In thermal treatment, waste is converted into useful heat or steam, which is further used to drive a turbine to generate electricity.
Industry participants around the world are utilizing various thermal procedures for generating energy. These procedures include incineration where the waste is completely burnt to produce heat, whereas, pyrolysis where the waste is combusted under ideal conditions. Further, in pyrolysis & gasification where the waste is partially combusted to form an intermediate utilized for energy recovery or recycling, and plasma arc treatment among others.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | US$ 43.75 billion |
| Anticipated Forecast Value (2033) | US$ 88.96 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 7.3% |
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Development of Government Waste to Energy Initiatives and Policies to Boost Market
Government regulations that are strict in response to escalating GHG emissions will urge manufacturers of green technology to keep up with innovative technologies that will assist create cleaner energy, which will ultimately fuel market expansion. To lessen their dependency on fossil fuels, governments around the world are investing in renewable energy sources, which will also help achieve the need for technology.
The volatility of the industry will be complemented by ongoing initiatives to deploy green technologies, particularly WTE systems. The market will flourish as a result of severe government regulations applied to the management of municipal solid trash from commercial and residential enterprises. Several new waste-to-energy projects are springing up around the world.
Waste to energy policies such as feed-in tariffs, tax credits, and capital subsidies have been implemented in countries such as China, India, the United States, and the European Union. The Indian government recognizes waste-to-energy as a renewable technology and supports it with a variety of subsidies and incentives.
The Ministry of New and Renewable Energy (MNRE) is actively promoting technology options for energy extraction from municipal and industrial wastes. MNRE also encourages waste-to-energy research by providing financial support for R&D projects on a cost-sharing basis following its R&D Policy. Further, The landfill directive aims to curtail land filling within the EU to prevent and mitigate the negative effects of waste landfills on the environment and human health. Government policy and regulations that are supportive of the market are catapulting it forward.
Increased Demand for Thermochemical Waste-to-Energy Technology to Accelerate Market Growth
Because of continual developments in waste treatment technologies, thermal technologies is likely to command a sizeable market share for the conversion of waste to energy (WTE) in the upcoming years. Waste is converted into usable heat or steam during thermal treatment, and this heat or steam is then used to turn a turbine and produce power.
Businesses all over the world are using different thermal procedures to generate energy. These mechanisms include incineration, in which waste is completely burnt to generate heat, pyrolysis, in which waste is combusted under optimal circumstances, pyrolysis & gasification, in which waste is partially burned to construct an intermediate used for energy recovery or recycling, and plasma arc treatment, among other processes.
Biological Waste to energy (WTE) Technology is to Acquire Significant Traction.
Over the forecast period, biological waste to energy (WTE) technology is predicted to expand at a noteworthy rate, reflecting a 7.9% CAGR from 2023 to 2033. This emergence is the result of the subtle progression of anaerobic decomposition technology.
Several governments in developed countries are undertaking research and development to enhance the commercial viability of anaerobic digestion facilities. Among the significant aspects crucial to enhancing the biological conversion of gases to fuels and co-products are advanced reactor design and genetic engineering of organisms. The biological segment's future growth can be attributed to environmental protection and the continued growth of cleaner vehicle fuels such as biogas in the transportation sector.
Simplicity of Process is a Key Growth Factor Stimulating Adoption
The thermal waste to energy (WTE) segment is expected to account for a 83.5% of total revenue, with incineration thermal technology playing a significant role in 2023. The growth in this segment is expected to soar at a CAGR of 7.5% during the forecast period.
Thermal conversion techniques are becoming prevalent due to their relatively simple process and simplicity of usage. Thermal waste treatment is an environment-friendly alternative for modern cities because it facilitates the combustion reaction of waste gases.
The incineration segment is predicted to expand at a significant pace, during the forecast period. Enhanced waste generation around the world significantly steers global demand for incineration processes. Because incinerators can treat all types of waste, this method is far superior to other thermal waste treatment technologies.
Incineration thermal technology has several advantages, including reduced greenhouse gas emissions, energy conservation, and waste volume reduction. Incineration reduces waste to 10.2% of its original volume, making it a feasible proposition to conventional energy by generating renewable energy for applications such as district heating.
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Initiatives to Effectively Manage Waste Generation to Propel Growth
In 2023, Europe’s waste to energy (WTE) market is likely to be valued at US$ 16.9 billion. The market in this region is expected to thrive at a CAGR of 7.5% during the forecast period. A favorable regulatory framework for the creation of environmentally conscious urban infrastructure might enhance the size of the industry.
Governments throughout the region have implemented landfill fees and taxes, direct subsidies, and a variety of other taxes, including a carbon tax, among others, which might augment the business trends. Furthermore, the widening adoption of cutting-edge technologies such as RFID, IT solutions, remote monitoring, controlling equipment, and solid waste processing hardware are the factors going to have a proactive impact on technology growth.
Suez, Veolia, Ramboll Group A/S, and EQT AB are among the leading market players. Favorable regulatory policies, such as landfill taxes, carbon taxes, and direct subsidies to waste-to-energy plants, are predicted to propel the regional market even further over the forecast period.
In 2016, the United Kingdom commercial and industrial sectors obtained more than 41 million tons of waste. The amount of waste regarded in waste to energy (WTE) plants is relatively small in comparison to waste generated. The country has been attempting to develop a credible and financially viable alternative to traditional fossil fuels, with the potential threat of energy security, volatile oil prices, and growing social pressure to reduce greenhouse gas emissions.
Extensive Government Programs to curb Municipal Solid Waste Generation widening prospects
Rising emphasis by governments on integration and optimized utilization of clean energy generation sources is likely to accelerate the deployment rate of waste to energy (WTE) plants across North America. According to the Energy Information Administration, 29.5 million tons of municipal solid waste was burned in 68 waste-to-energy plants in the United States in 2018, generating approximately 14.0 billion kWh of electricity.
Elevated domestic and industrial waste in North America has compelled governments to enact stringent regulations prohibiting the landfilling of MSW in North American countries. Increased MSW and stringent legislation by regional governments have prompted energy generation from waste in the region.
The United States has been an early adopter of clean energy solutions in industries such as power generation and manufacturing industries such as chemicals, among others. This can be attributed to the increased importance placed on clean energy solutions by the United States government's energy act.
Relevant policies and regulations have been constructed based on such acts to cater to numerous perspectives of distinct sectors. According to Future Market Insights, North America is slated to surge at a CAGR of 7.8% from 2023 to 2033.
Government Funding for Waste Conversion Projects is to Notably Impel Market Growth
The waste-to-energy market in Asia Pacific is presumed to expand at a significant pace during the forecast period at a CAGR of 6.2%, with China and Japan offering the most potential for market growth.
Rising government funding for municipal solid waste management, as well as awareness regarding waste-to-energy plants in various economies such as India, Singapore, Indonesia, and Thailand, will undoubtedly compel regional market expansion.
India is significantly urbanizing and developing, which is increasing MSW and necessitating better waste management techniques. As a consequence of a significant number of public health incidents related to soil and water pollution, the government has launched a slew of initiatives to supervise urban and industrial waste.
Start-ups play a vital role in recognizing growth opportunities and driving industry expansion. Their efficiency in converting inputs into outputs and adapting to volatile market conditions is valuable. In the waste to energy (WTE) market, several start-ups are engaged in manufacturing and providing related services.
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The market for waste to energy (WTE) is characterized by intense competition, as notable industry players are making significant investments to enhance their manufacturing capabilities.
The key industry players operating in the market are Veolia, Velocys, Biffa, Sims Limited, Stericycle, Keppel Seghers, Recology, Waste Connections, Xcel Energy, Hitachi Zosen Inova AG, China Everbright Environment Group Limited, JANSEN Combustion and Boiler Technologies, Wheelabrator Technologies, SUEZ, OMNI Conversion Technologies, WM Intellectual Property Holdings, and Covanta Holding Corporation.
Some Recent Developments in the Waste to Energy (WTE) Market
| Attribute | Details |
|---|---|
| Market Value in 2023 | US$ 43.75 billion |
| Market Value in 2033 | US$ 88.96 billion |
| Growth Rate | CAGR of 7.3% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
By 2033, the market is anticipated to reach a value of US$ 88.96 billion.
In 2023, the global market anticipates to be around US$ 43.75 billion.
Through 2033, the waste to energy market is going to experience a 7.3% CAGR.
Europe waste to energy market records a CAGR of 7.5%.
The biological waste to energy (WTE) technology tends to evolve with a 7.9% CAGR.
The waste-to-energy market in Asia Pacific anticipates to advance at a CAGR of 6.2%.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Investment Feasibility Matrix
3.6. PESTLE and Porter’s Analysis
3.7. Regulatory Landscape
3.7.1. By Key Regions
3.7.2. By Key Countries
3.8. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Technology, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Technology, 2023 to 2033
5.3.1. Thermal Technology
5.3.1.1. Incineration
5.3.1.2. Pyrolysis & Gasification
5.3.2. Biological Technology
5.4. Y-o-Y Growth Trend Analysis By Technology, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Technology, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
6.1. Introduction
6.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
6.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa
6.4. Market Attractiveness Analysis By Region
7. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
7.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
7.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
7.2.1. By Country
7.2.1.1. The USA
7.2.1.2. Canada
7.2.2. By Technology
7.3. Market Attractiveness Analysis
7.3.1. By Country
7.3.2. By Technology
7.4. Key Takeaways
8. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. Brazil
8.2.1.2. Mexico
8.2.1.3. Rest of Latin America
8.2.2. By Technology
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Technology
8.4. Key Takeaways
9. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Germany
9.2.1.2. United Kingdom
9.2.1.3. France
9.2.1.4. Spain
9.2.1.5. Italy
9.2.1.6. Russia
9.2.1.7. Rest of Europe
9.2.2. By Technology
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Technology
9.4. Key Takeaways
10. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. China
10.2.1.2. Japan
10.2.1.3. India
10.2.1.4. South Korea
10.2.1.5. Australia
10.2.1.6. Rest of APAC
10.2.2. By Technology
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Technology
10.4. Key Takeaways
11. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. South Africa
11.2.1.2. Saudi Arabia
11.2.1.3. UAE
11.2.1.4. Israel
11.2.1.5. Rest of MEA
11.2.2. By Technology
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Technology
11.4. Key Takeaways
12. Key Countries Market Analysis
12.1. USA
12.1.1. Pricing Analysis
12.1.2. Market Share Analysis, 2022
12.1.2.1. By Technology
12.2. Canada
12.2.1. Pricing Analysis
12.2.2. Market Share Analysis, 2022
12.2.2.1. By Technology
12.3. Brazil
12.3.1. Pricing Analysis
12.3.2. Market Share Analysis, 2022
12.3.2.1. By Technology
12.4. Mexico
12.4.1. Pricing Analysis
12.4.2. Market Share Analysis, 2022
12.4.2.1. By Technology
12.5. Germany
12.5.1. Pricing Analysis
12.5.2. Market Share Analysis, 2022
12.5.2.1. By Technology
12.6. United Kingdom
12.6.1. Pricing Analysis
12.6.2. Market Share Analysis, 2022
12.6.2.1. By Technology
12.7. France
12.7.1. Pricing Analysis
12.7.2. Market Share Analysis, 2022
12.7.2.1. By Technology
12.8. Spain
12.8.1. Pricing Analysis
12.8.2. Market Share Analysis, 2022
12.8.2.1. By Technology
12.9. Italy
12.9.1. Pricing Analysis
12.9.2. Market Share Analysis, 2022
12.9.2.1. By Technology
12.10. Russia
12.10.1. Pricing Analysis
12.10.2. Market Share Analysis, 2022
12.10.2.1. By Technology
12.11. China
12.11.1. Pricing Analysis
12.11.2. Market Share Analysis, 2022
12.11.2.1. By Technology
12.12. Japan
12.12.1. Pricing Analysis
12.12.2. Market Share Analysis, 2022
12.12.2.1. By Technology
12.13. India
12.13.1. Pricing Analysis
12.13.2. Market Share Analysis, 2022
12.13.2.1. By Technology
12.14. South Korea
12.14.1. Pricing Analysis
12.14.2. Market Share Analysis, 2022
12.14.2.1. By Technology
12.15. Australia
12.15.1. Pricing Analysis
12.15.2. Market Share Analysis, 2022
12.15.2.1. By Technology
12.16. South Africa
12.16.1. Pricing Analysis
12.16.2. Market Share Analysis, 2022
12.16.2.1. By Technology
12.17. Saudi Arabia
12.17.1. Pricing Analysis
12.17.2. Market Share Analysis, 2022
12.17.2.1. By Technology
12.18. UAE
12.18.1. Pricing Analysis
12.18.2. Market Share Analysis, 2022
12.18.2.1. By Technology
12.19. Israel
12.19.1. Pricing Analysis
12.19.2. Market Share Analysis, 2022
12.19.2.1. By Technology
13. Market Structure Analysis
13.1. Competition Dashboard
13.2. Competition Benchmarking
13.3. Market Share Analysis of Top Players
13.3.1. By Regional
13.3.2. By Technology
14. Competition Analysis
14.1. Veolia
14.1.1. CHAS health
14.1.1.1. Overview
14.1.1.2. Product Portfolio
14.1.1.3. Profitability by Market Segments
14.1.1.4. Sales Footprint
14.1.1.5. Strategy Overview
14.1.1.5.1. Marketing Strategy
14.1.2. Velocys
14.1.2.1. Overview
14.1.2.2. Product Portfolio
14.1.2.3. Profitability by Market Segments
14.1.2.4. Sales Footprint
14.1.2.5. Strategy Overview
14.1.2.5.1. Marketing Strategy
14.1.3. Biffa
14.1.3.1. Overview
14.1.3.2. Product Portfolio
14.1.3.3. Profitability by Market Segments
14.1.3.4. Sales Footprint
14.1.3.5. Strategy Overview
14.1.3.5.1. Marketing Strategy
14.1.4. Sims Limited
14.1.4.1. Overview
14.1.4.2. Product Portfolio
14.1.4.3. Profitability by Market Segments
14.1.4.4. Sales Footprint
14.1.4.5. Strategy Overview
14.1.4.5.1. Marketing Strategy
14.1.5. Stericycle
14.1.5.1. Overview
14.1.5.2. Product Portfolio
14.1.5.3. Profitability by Market Segments
14.1.5.4. Sales Footprint
14.1.5.5. Strategy Overview
14.1.5.5.1. Marketing Strategy
14.1.6. Keppel Seghers
14.1.6.1. Overview
14.1.6.2. Product Portfolio
14.1.6.3. Profitability by Market Segments
14.1.6.4. Sales Footprint
14.1.6.5. Strategy Overview
14.1.6.5.1. Marketing Strategy
14.1.7. Recology
14.1.7.1. Overview
14.1.7.2. Product Portfolio
14.1.7.3. Profitability by Market Segments
14.1.7.4. Sales Footprint
14.1.7.5. Strategy Overview
14.1.7.5.1. Marketing Strategy
14.1.8. Waste Connections
14.1.8.1. Overview
14.1.8.2. Product Portfolio
14.1.8.3. Profitability by Market Segments
14.1.8.4. Sales Footprint
14.1.8.5. Strategy Overview
14.1.8.5.1. Marketing Strategy
14.1.9. Xcel Energy
14.1.9.1. Overview
14.1.9.2. Product Portfolio
14.1.9.3. Profitability by Market Segments
14.1.9.4. Sales Footprint
14.1.9.5. Strategy Overview
14.1.9.5.1. Marketing Strategy
14.1.10. Hitachi Zosen Inova AG
14.1.10.1. Overview
14.1.10.2. Product Portfolio
14.1.10.3. Profitability by Market Segments
14.1.10.4. Sales Footprint
14.1.10.5. Strategy Overview
14.1.10.5.1. Marketing Strategy
15. Assumptions & Acronyms Used
16. Research Methodology
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Waste to energy (WTE) Market
