July 17, 2020
According to the research report titled ‘Global Waste to Energy Market Analysis, 2020’, available with Market Study Report LLC, global waste to energy market is expected to record considerable growth through 2025.
Based on the findings of the research report, global waste to energy market is likely to expand with a CAGR of 6% during 2020-2025. Increasing need to lower the volume of waste produced from agriculture, industrial, and municipal sectors is likely to contribute to the market expansion. Additionally, rapid urbanization and industrialization, in consort with growing population worldwide which is amplifying energy demand also positively impacts the market growth.
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Besides this, increasing number of wastes to energy plants and the employment of moving grate incinerator technology in evolving economies are factors which are likely to influence the global waste to energy market size.
The report provides an in-depth analysis of statistics of global waste to energy market and offers information based on industry shares, size and growth factors. In addition, the study also includes the key trends as well as challenges & opportunities, and growth drivers impacting the overall market outlook.
Based on technology, global waste to energy market is divided into physical, biological, gasification, pyrolysis, incineration, and thermal technology. The thermal technology segment held a significant market share in 2019 and is slated to depict a similar trend in the upcoming years owing to the growing volume of waste due to increasing industrialization and urbanization.
Moreover, the demand for incineration technology in emerging countries is likely to increase in the forthcoming years. Also, the demand for biological technology in developed economies is projected to exceed the demand for pyrolysis and gasification technology.
Speaking of waste type, global waste to energy market is segmented into industrial, agricultural, municipal waste, and others. The municipal waste sector held a major share of global waste to energy market in 2019, due to the huge volume of waste generated.
Citing the regional landscape, Europe held a significant share in waste to energy market in 2019 owing to the 500 waste to energy plants. Technological upgradations in waste to energy solutions contribute to the increasing industry share of Europe.
Asia Pacific is anticipated to witness a rapid growth during 2020-2025 pertaining to rising investments in research & development in countries like Japan and China regarding municipal solid waste treatment. In addition, the burgeoning preference for decreasing carbon footprint in Asia Pacific belt is driving market size in the region.
Major players in global waste to energy market are Emery Energy Company, Ecocorp, China Everbright International, Hitachi Zosen Corp, Veolia Environment, A2A, Waste Management, and Mitsubishi Heavy Industries among others.