Waste To Energy Market Size, Share & Trends Analysis Report By Technology (Thermal (Incineration, Gasification, Pyrolysis), Biological), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2020 - 2027

Report Overview

The global waste to energy market size was valued at USD 31.0 billion in 2019 and is projected to register a compound annual growth rate (CAGR) of 7.4% from 2020 to 2027. Favorable regulatory policies encouraging proper waste disposal combined with energy production along with growing energy demands from the end-use sector are projected to play a vital role in the market growth over the forecast period. Governments are focusing on commercializing alternate sources of energy such as Waste to Energy (WTE) technology owing to the rapid depletion of conventional energy sources. In addition, the implementation of environmental policies regarding the reduction of carbon emissions from fossil-fuel usage is expected to further provide a boost to industry growth.

The U.S. WTE market is projected to witness substantial growth owing to rising industrial and domestic waste prompting the regional government to promote energy generation from waste. In addition, the presence of major market players such as Covanta Holding Corporation and Babcock and Wilcox Enterprises, Inc. across the region strengthens the deployment of WTE plants in the country.

According to the U.S. Environmental Protection Agency, greenhouse gas emissions witness a one-ton reduction for every ton of solid waste processed in waste to energy facilities. For instance, the U.S. based Covanta Holding Corporation utilizes its waste to energy facilities to recycle 500 kilotons of metal and convert approximately 21.0 million tons of waste into usable energy.

Waste to energy plants reduces a significant amount of harmful emissions owing to several factors including the recovery of metals for recycling, offset of carbon dioxide from fossil fuel power generation, and avoidance of methane from landfills. Moreover, limited space and rising landfilling prices are expected to further augment the waste to energy technology growth as a reliable waste management solution.

Technological advancements in energy recovery to improve the output efficiency of waste to energy plants are expected to bolster market growth over the forecast period. For instance, France based company Suez developed the CHP+® process in order to enable the residual heat recovery generated through waste combustion and simultaneously generate captive energy for use in local activities.

Technology Insights

The thermal segment occupied the largest revenue share of 82.4% in 2019, 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 2019 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.

North America occupied a prominent market share in 2019 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.

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.

Key Companies & Market Share Insights

Industry players are focusing on research and development activities in order to reduce the technology cost associated with waste to energy power plants. Few companies are into vertical integration in order to strengthen the services. The companies are involved in the expansion of their facilities to increase their waste solution capabilities. Some of the prominent players in the waste to energy market include:

• Hitachi Zosen Inova AG

• Suez

• Covanta Holding Corporation

• China Everbright International Limited

• Veolia

• Abu Dhabi National Energy Company PJSC

• Ramboll Group A/S

• Babcock & Wilcox Enterprises, Inc.

• Wheelabrator Technologies Inc

• Xcel Energy Inc.

Waste To Energy Market Report Scope 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global waste to energy market on the basis of technology and region:

• Technology Outlook (Revenue, USD Million, 2016 - 2027)

  • Thermal

    • Incineration

    • Gasification

    • Pyrolysis

  • Biological

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

    • India

  • Central & South America

  • Middle East & Africa