Waste to Energy (WTE) market is expected to flourish at a CAGR of 5.7% and is likely to garner USD 42,520.4 Million by the end of 2024. Factors such as increasing demand for conversion of energy by solid and municipal waste by safe and environmental friendly waste disposal methods is likely to impel the growth of the market. Demand for constant technological advancements in waste to energy conversion methods is driving the industrialists to collaborate with each other. The huge demand for ecological waste management to generate energy is estimated to boom growth of global waste to energy market in forecast period.
Additionally, increasing awareness towards environmental pollution and rising demand of energy worldwide due to speedy depletion of conservative energy sources, the global waste to energy market is witnessing a boom in global energy advancements for waste management. Financial schemes and proposals to preserve agricultural wastes for energy production are devised by the governments across the globe to support the cause of garbage management to produce and provide clean energy alongside generating income from usage of waste.
Further, the market of waste to energy (WTE) is anticipated to achieve a Y-o-Y growth rate of 6.04% in 2024 as compared to the previous year. Further, growing technological advancements is expected to spur the growth of waste to energy (WTE) market over the forecast period.
Europe is expected to observe notable modest growth over the forecast period i.e. 2016-2024 by registering a CAGR of 5.9% over the period. Further, Europe market is expected to account USD 15,524.3 Million by 2024 from USD 9,835.3 Million in 2016. Germany is the major contributor to the growth of Europe waste to energy (WTE) market. Germany waste to energy (WTE) accounted for a market share of 21.27% in 2016 and further, is expected to increase to a market share of 22.91% by the end of 2025.
Geographically, Europe was the largest region to account for highest share in global waste to energy market. Due to overall increase in economic growth, the countries in Europe are estimated to showcase robust growth in global waste to energy market with steady growth. With continued growth of waste management regulations in waste to energy plants in Europe, followed by Asia Pacific and North America, the annual worldwide market for waste to energy machineries is estimated to generate moderate CAGR during forecast period.
In Asia-Pacific region, China and Japan are the two major countries which are creating a huge demand for the waste to energy technology. Factors such as rising adoption of advanced technological products and presence of large number of WTE manufacturers are boosting the demand for waste to energy in the region.
Moreover, riding on the back of factors such as rapid urbanization in Asia-Pacific, rising popularity of advanced technological product and growing trend towards adoption of renewable energy sources product, Asia-Pacific is projected to contribute a market share of 31.71% by 2024.
Waste To Energy (WTE) market is segmented by technology into thermal technology, biological technology and other technology . Thermal segment accounted for USD 20,323.3 Million in 2016. Further, the segment is expected to grow at a CAGR of 5.7% over the forecast period. Moreover, the market of Thermal technology waste to energy (WTE) is expected to achieve Y-o-Y growth rate of 6.04% in 2024 as compared to previous year. Additionally, waste to energy (WTE) market is further sub-segmented by thermal technology into incineration pyrolysis, and gasification. The market of incineration in waste to energy (WTE) is projected to garner USD 12,496 Million by the end of 2024 from USD 8,239.3 Million in 2017. Gasification waste to energy (WTE) segment is anticipated to grow at a CAGR of 5.7% over the forecast period. Moreover, the pyrolysis segment is expected to achieve Y-o-Y growth rate of 5.5% in 2024 as compared to previous year.
Amec Foster Wheeler, Veolia Environment, Suez Environment S.A., Waste Management Inc., Babcock & Wilcox Co. are some of the prominent players of waste to energy (WTE) market.
Additionally, increasing awareness towards environmental pollution and rising demand of energy worldwide due to speedy depletion of conservative energy sources, the global waste to energy market is witnessing a boom in global energy advancements for waste management. Financial schemes and proposals to preserve agricultural wastes for energy production are devised by the governments across the globe to support the cause of garbage management to produce and provide clean energy alongside generating income from usage of waste.
Further, the market of waste to energy (WTE) is anticipated to achieve a Y-o-Y growth rate of 6.04% in 2024 as compared to the previous year. Further, growing technological advancements is expected to spur the growth of waste to energy (WTE) market over the forecast period.
Europe is expected to observe notable modest growth over the forecast period i.e. 2016-2024 by registering a CAGR of 5.9% over the period. Further, Europe market is expected to account USD 15,524.3 Million by 2024 from USD 9,835.3 Million in 2016. Germany is the major contributor to the growth of Europe waste to energy (WTE) market. Germany waste to energy (WTE) accounted for a market share of 21.27% in 2016 and further, is expected to increase to a market share of 22.91% by the end of 2025.
Geographically, Europe was the largest region to account for highest share in global waste to energy market. Due to overall increase in economic growth, the countries in Europe are estimated to showcase robust growth in global waste to energy market with steady growth. With continued growth of waste management regulations in waste to energy plants in Europe, followed by Asia Pacific and North America, the annual worldwide market for waste to energy machineries is estimated to generate moderate CAGR during forecast period.
In Asia-Pacific region, China and Japan are the two major countries which are creating a huge demand for the waste to energy technology. Factors such as rising adoption of advanced technological products and presence of large number of WTE manufacturers are boosting the demand for waste to energy in the region.
Moreover, riding on the back of factors such as rapid urbanization in Asia-Pacific, rising popularity of advanced technological product and growing trend towards adoption of renewable energy sources product, Asia-Pacific is projected to contribute a market share of 31.71% by 2024.
Waste To Energy (WTE) market is segmented by technology into thermal technology, biological technology and other technology . Thermal segment accounted for USD 20,323.3 Million in 2016. Further, the segment is expected to grow at a CAGR of 5.7% over the forecast period. Moreover, the market of Thermal technology waste to energy (WTE) is expected to achieve Y-o-Y growth rate of 6.04% in 2024 as compared to previous year. Additionally, waste to energy (WTE) market is further sub-segmented by thermal technology into incineration pyrolysis, and gasification. The market of incineration in waste to energy (WTE) is projected to garner USD 12,496 Million by the end of 2024 from USD 8,239.3 Million in 2017. Gasification waste to energy (WTE) segment is anticipated to grow at a CAGR of 5.7% over the forecast period. Moreover, the pyrolysis segment is expected to achieve Y-o-Y growth rate of 5.5% in 2024 as compared to previous year.
Amec Foster Wheeler, Veolia Environment, Suez Environment S.A., Waste Management Inc., Babcock & Wilcox Co. are some of the prominent players of waste to energy (WTE) market.
Table of Contents
1. Research Methodology2. Market Definitions, Assumptions, Abbreviations & Market Taxonomy
3. Global Waste To Energy (WTE) Market - Executive Summary
4. Waste To Energy (WTE) Market - Risk Analysis
5. Recent Changes and Development in Waste To Energy (WTE) Market by Geography
11. Market Dynamics & Its Impact Analysis
12. Global Waste To Energy (WTE) Market Segmentation Analysis By Technology
13. Global Waste To Energy (WTE) Market Segmentation Analysis By Geography
14. Competitive Landscape
Companies Mentioned
- C & G Ltd.
- Amec Foster Wheeler
- Veolia Environment
- Suez Environment
- Waste Management Inc.
- Keppel Seghers
- Babcock and Wilcox
- Covanta Energy Corp.
- Hitachi Zosen Inova AG
- ADI Systems Inc.
