The global waste to energy market was surpassed at USD 33.3 billion in 2021 and is expected to hit around USD 59.8 billion by 2030, growing at a CAGR of 6.72% from 2022 to 2030.
Growing power demand from end-use industries along with favorable regulatory policies regarding waste disposal and utilization for clean energy are likely to strengthen the market over the forecast period.
Governments are emphasizing on the development of alternate energy production sources such as Waste to Energy (WTE) plants owing to surging power demand along with the rapid depletion of conventional energy sources. In addition, increasing landfilling prices and limited space are among the primary factors responsible for driving the market over the forecast period.
Asia Pacific economies such as China have become high potential markets for waste-to-energy technologies owing to the generation of industrial waste at a huge level. Moreover, Japan is expected to follow a more aggressive approach than China regarding the implementation of WTE technology across the country. It aims to provide combination packages including additional services such as waste reduction, waste sorting, and recycling. These trends are anticipated to positively influence the market over the forecast period.
Industry players are emphasizing on technological advancements and innovations in order to reduce the technology cost associated with waste-to-energy plants, boosting the commercialization of WTE technology. In addition, market participants practice vertical integration in order to strengthen the services. Companies do a tie-up with municipal solid waste providers for the distribution of waste sources.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 33.3 billion |
| Revenue Forecast by 2030 | USD 59.8 billion |
| Growth rate from 2022 to 2030 | CAGR of 6.72% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Technology, region |
| Companies Covered |
Hitachi Zosen Inova AG; Suez; Covanta Holding Corporation; Veolia; China Everbright International Limited; Abu Dhabi National Energy Company PJSC; Ramboll Group A/S; Babcock & Wilcox Enterprises, Inc.; Wheelabrator Technologies Inc; Xcel Energy Inc. |
Technology Insights
The thermal segment occupied the largest revenue share of 82.4% in 2021, with incineration thermal technology being a major contributor to revenue growth. A relatively simple process along with ease of operations is the growth factor for thermal conversion techniques. Thermal treatment of waste serves as an environmentally sound solution for modern cities by allowing complete combustion of gases released from the waste.
Incineration thermal technology provides several benefits such as limiting greenhouse gas emissions, preserving energy, and waste volume reduction. Waste is reduced to 10.0% of its original volume through incineration, serving as a viable alternative to conventional energy by creating renewable energy for applications such as district heating. In addition, recycling of bottom ash and metal further add to the lucrative benefits provided by this technology.
The biological segment is anticipated to attain the highest growth rate in the waste to energy market over the forecast period. This growth is owing to the gradual advancement of anaerobic decomposition technology. Governments across several developed nations are indulging in several R&D activities to enhance the economic viability of anaerobic digestion facilities. Genetic engineering of organisms and advancements in reactor design are among the key factors critical to the enhancement of biological conversion of gases to fuels and co-products.
The future growth of the biological segment can be attributed to environmental concerns and the growing demand for cleaner vehicle fuels such as biogas in the transport sector. In addition, anaerobic decomposition technique is projected to surpass the market share of biochemical composting techniques for biodegradable trash generated from municipal solid waste.
Regional Insights
In Europe, the market accounted for the largest revenue share of 43.0% in 2021 owing to the presence of major market players such as Suez, Veolia, Ramboll Group A/S, and EQT AB. Favorable regulatory policies including landfill taxes, carbon tax, and direct subsidies to waste to energy plants are expected to further drive the regional market over the forecast period.
The rising population coupled with increasing demand for energy-efficient and clean energy is expected to propel the market for waste to the region's energy market. The European Union region has been very active in the R&D efforts related to clean and energy-efficient power generation sources. Availability of funding in the European Union for energy conservation and energy efficiency projects has been one of the major factors driving the regional market growth.
The UK commercial and industrial segments generated over 40 million tons of waste in 2016; the amount of waste treated in waste to energy plants is rather small compared to waste generated. With the ever-increasing threat of energy security, volatility in oil prices, and growing social pressure to reduce greenhouse gas emissions, the country has been focusing on developing a supportable and financially viable substitute to traditional fossil fuels.
North America occupied a prominent market share in 2021 owing to growing consumer awareness regarding environmental protection and climate change. Moreover, increasing government emphasis on integration and enhanced utilization of clean electricity generation sources is anticipated to increase the deployment rate of waste to energy plants across the region. According to Energy Information Administration, in 2018, 29.5 million tons of municipal solid waste was burnt in 68 U.S. waste to energy plants to generate around 14.0 billion kWh of electricity.
Increasing domestic and industrial waste in North America has encouraged the government to form stringent regulations against the landfilling of MSW in the countries of North America. Increased MSW and strict legislation by the governments in the region have prompted energy generation from waste in the region.
The U.S. has become an early adopter of clean energy solutions in the world in sectors such as power generation and manufacturing industries including chemicals, and others. This can be attributed to increased importance given to clean energy solutions as per the energy act introduced by the U.S. government. Moreover, based on such acts, relevant policies and regulations have been established to cater to different aspects of distinct sectors.
In Asia Pacific, the market for waste to energy is projected to experience the fastest CAGR over the forecast period with China and Japan offering the maximum potential for market growth. Increasing government funding for municipal solid waste management along with growing awareness regarding waste to energy plants across various economies such as India, Singapore, Indonesia, and Thailand are bound to drive the regional market growth.
India is experiencing rapid urbanization and development, thereby increasing MSW, which requires better waste management techniques. The government has undertaken various initiatives for managing urban and industrial waste as it has faced a large number of public health incidents associated with soil and water pollution. The country has installed 186 WTE projects to generate bioCNG and biogas power. Among 186 projects, five projects are MSW-based producing 66.5 MW of energy, and the rest 181 are industrial, urban, and agricultural-based waste to energy projects.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1.Research Objective
1.2.Scope of the Study
1.3.Definition
Chapter 2. Research Methodology
2.1.Research Approach
2.2.Data Sources
2.3.Assumptions & Limitations
Chapter 3. Executive Summary
3.1.Market Snapshot
Chapter 4. Market Variables and Scope
4.1.Introduction
4.2.Market Classification and Scope
4.3.Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5.COVID 19 Impact on Waste To Energy Market
5.1. COVID-19 Landscape: Waste To Energy Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4.Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1.Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2.Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1.List of Suppliers
7.1.3.2.List of Buyers
Chapter 8. Global Waste To Energy Market, By Technology
8.1.Waste To Energy Market, by Technology Type, 2020-2030
8.1.1. Thermal
8.1.1.1.Market Revenue and Forecast (2017-2030)
8.1.2. Biological
8.1.2.1.Market Revenue and Forecast (2017-2030)
Chapter 9. Global Waste To Energy Market, Regional Estimates and Trend Forecast
9.1.North America
9.1.1. Market Revenue and Forecast, by Technology (2017-2030)
9.1.2. U.S.
9.1.3. Rest of North America
9.1.3.1.Market Revenue and Forecast, by Technology (2017-2030)
9.2.Europe
9.2.1. Market Revenue and Forecast, by Technology (2017-2030)
9.2.2. UK
9.2.2.1.Market Revenue and Forecast, by Technology (2017-2030)
9.2.3. France
9.2.3.1.Market Revenue and Forecast, by Technology (2017-2030)
9.2.4. Rest of Europe
9.2.4.1.Market Revenue and Forecast, by Technology (2017-2030)
Chapter 10.Company Profiles
10.1.Hitachi Zosen Inova AG
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2.Suez
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3.Covanta Holding Corporation
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4.China Everbright International Limited
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5.Veolia
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
10.6.Abu Dhabi National Energy Company PJSC
10.6.1.Company Overview
10.6.2.Product Offerings
10.6.3.Financial Performance
10.6.4.Recent Initiatives
10.7.Ramboll Group A/S
10.7.1.Company Overview
10.7.2.Product Offerings
10.7.3.Financial Performance
10.7.4.Recent Initiatives
10.8.Babcock & Wilcox Enterprises, Inc.
10.8.1.Company Overview
10.8.2.Product Offerings
10.8.3.Financial Performance
10.8.4.Recent Initiatives
10.9.Wheelabrator Technologies Inc
10.9.1.Company Overview
10.9.2.Product Offerings
10.9.3.Financial Performance
10.9.4.Recent Initiatives
10.10.Xcel Energy Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1.About Us
12.2.Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers