PUBLISHER: IMARC | PRODUCT CODE: 1291473
PUBLISHER: IMARC | PRODUCT CODE: 1291473
The global waste to energy market size reached US$ 41.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 59.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.99% during 2023-2028.
Waste to energy (WSE) refers to the process of converting non-recyclable waste materials into usable heat, fuel, or electricity through processes, such as combustion, gasification, devolatilization, anaerobic digestion, and landfill gas recovery. It relies on different systems or technologies for producing electricity by burning unprocessed municipal solid waste in an incinerator with a boiler and a generator. At present, it is considered a critical component of the waste management system as WSE helps mitigate climate change, reduce greenhouse gases (GHG), and minimize environmental impact and health damages.
At present, landfill waste represents a global environmental concern as it causes fires or explosions, contaminates soil and water, and leads to climate change, toxins, leachate, and GHG emissions. This, in confluence with the increasing industrial waste generation every year, represents one of the key factors driving the need for WSE technologies as a sustainable alternative to landfills for waste disposal. These technologies also assist in avoiding methane from landfills, recovering metals for recycling, and offsetting emissions from fossil fuel electrical production. Apart from this, rapid industrialization, rising population, growing urbanization, and the economic expansion of developing countries are resulting in accelerating rates of municipal solid waste (MSW) production. As a result, governing agencies of numerous countries are undertaking several steps and incorporating WSE technologies to manage the accumulation of MSW and generate energy from its combustion for residential and commercial uses. Furthermore, the launch of new technologies like hydrothermal carbonization (HTC), which fast-tracks the slow process of geothermal conversion of wet waste with an acid catalyst at high pressure, is anticipated to create a favorable market outlook.
IMARC Group provides an analysis of the key trends in each sub-segment of the global waste to energy market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology and waste type.
The competitive landscape of the industry has also been examined along with the profiles of the key players being A2A SpA, Babcock & Wilcox Enterprises, Inc., China Everbright International Limited, CNIM, Covanta Holding Corporation, Hitachi Zosen Inova AG, John Wood Group plc, Mitsubishi Heavy Industries Ltd, Ramboll Group A/S, Veolia Environnement S.A. and WIN Waste Innovations.